What are the differences between each difficulty?

So I looked it up a bit and according to what I found if you play on risky, the death of the MC = game over, like in traditional persona/smt but if you play on any other mode you will be able to continue if your MC dies.

If the game is like any other persona game, you will find that the difference between each difficulty is the amount of money and xp earned (it goes lower with harder modes).