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Centre for Policy on Ageing | |
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Behind the balance sheet
— the financial health of low earning households | | Corporate Author | Resolution Foundation |
| Publisher | The Resolution Foundation (electronic format only), London, March 2010 |
| Pages | 42 pp |
| Source | The Resolution Foundation, 2 Broomhouse Lane, London, SW6 3RD. Download at: http://www.resolutionfoundation.org |
| Keywords | Financial services [older people] ; Finance ; Consumer ; Poverty. |
| Annotation | This report offers a fresh set of findings about how low earning households think about their money and make financial decisions. It uses current statistics, to find for example, that for the 14 million low earning adults living in 7.2 million households in the UK, housing, fuel, power and food account for around 26% of disposable income compared to 15% for high earners. However, the figures do not elaborate on the factors that drove financial decisions in these households. The report presents a statistical overview of the current financial health of low earners. It uses qualitative research to offer individual case studies, which highlight themes that cut across all the households met, one such being that small changes in circumstances can be very destabilising. It goes "behind the balance sheet" to capture the sometimes invisible factors that affect how people think about their money and manage their finances, such as hidden assets and liabilities, and participation in the informal economy. Three foundations are suggested for improving financial health and bringing about financial inclusion: resilience, behavioural economics, and financial capability. A short briefing, 'Financial health' outlines the work of the Financial Health Forum. (RH). |
| Accession Number | CPA-100401205 E |
| Classmark | J: WN: WY: W6 |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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