Research
Research to inform our work is vital if we are able to give everyone the right money advice and help people understand and manage their money better.
Our research enables us to give people the best advice on understanding financial matters and making choices when managing money.
Reports
Debt Advice in the UK, February 2012
This study, by London Economics describes the current debt landscape in the UK and highlights information gaps for further exploration. It consists of a comprehensive review of existing debt advice literature and research materials, supplemented by consultation with a wide range of stakeholders.
User Needs from Debt Advice: Individual and Stakeholder Views, February 2012
This comprehensive report by IFF Research explores customer and stakeholder requirements from debt advice in the UK, as part of a research programme conducted by the Money Advice Service to shape and inform its future debt advice co-ordination role. This reports the findings from a qualitative and quantitative study conducted amongst the UK population and debt advice stakeholders.
Funding debt advice in the UK – A proposed model
January 2012
The Money Advice Service is funded by a levy on firms regulated by the Financial Services Authority. This research study, by London Economics, seeks to explore an allocation of the costs of our debt advice work across a wider spectrum of creditors, whilst also considering the allocation of the debt advice costs within the current FSA fee blocks.
The study concludes that Bank of England data on lending to households is the most appropriate data to use when assessing the level of borrowing accounted for by different creditor types. Where references to the demand for debt advice have been used, these have been based on existing studies available prior to new Money Advice Service research which will be published later in February 2012. The figures contained in this study do not represent the Service’s view on the scale of demand for debt advice.
Financial capability, income and psychological wellbeing
July 2011
This working paper by Dr Mark Taylor (Institute for Social and Economic Research) et al. investigates the relative impact of people’s ability to manage their money and income on psychological health. It also explores how having relatively poor, or good, money management skills interact with other life states known to affect psychological wellbeing, such as unemployment, divorce or retirement.
The long-term impacts of financial capability: Evidence from the British Household Panel Survey
CFEB CR03 - February 2011
This report establishes a connection between poor money-management skills and long-term consequences for income, living standards and savings behaviour. The report, by Dr Mark Taylor at the Institute for Social and Economic Research, is based on analysis of data from the British Household Panel Survey (BHPS).
Financial capability and saving: Evidence from the BHPS
CFEB CR02 - November 2010
This report by Dr Mark Taylor (Institute for Social & Economic Research) sheds important light on saving patterns in Britain, analysing the relationship between saving and financial capability, income and a range of household and individual characteristics, and finding that a financially capable person is more likely to start saving, and less likely to stop.
Transforming Financial Behaviour: Developing interventions that build financial capability
CFEB CR01 - July 2010
Written for CFEB by industry experts and academics, including Professor Paul Dolan and Anthony Elliott, the report describes how applying psychology and sociology alongside more traditional policy interventions can foster behavioural change.
Improving Financial Capability Among Offenders: An assessment of three programmes delivering financial capability training to offenders
CFEB ER02 - May 2010
A report by Ipsos MORI bringing together previous assessments and new research to assess the effectiveness of three projects and the lessons learned. The projects assessed were run in partnership with CAB, the crime reduction charity, NACRO and the National Offender Management Service.
Other relevant research
The impact of life events on financial capability: Evidence from the British Household Panel Survey
FSA CR79 - September 2009
How life events, such as unemployment, bereavement and household status, affect people’s ability to manage and take control of their finances. It finds that people are particularly in need of preventative intervention at these points to help them adjust to new, and perhaps unexpected, challenges. The Institute of Social and Economic Research were commissioned to carry out the research.
Financial capability and wellbeing: Evidence from the British Household Panel Survey
FSA OP34 - May 2009
Examining the relationship between people’s ability to manage and take control of their finances and their psychological wellbeing. This report is by Dr Mark Taylor at the Institute for Social and Economic Research, and is based on analysis of data from the British Household Panel Survey (BHPS).
Financial capability in the UK: Establishing a baseline
FSA CR47 - March 2006
The FSA’s ground-breaking 'Baseline' survey, the largest to have been conducted on the topic, showed for the first time the level of financial capability of people in the UK. Being 'financially capable' was defined as being able to manage money, keep track of finances, plan ahead, make informed decisions, and stay up to date about financial matters.
It identified the groups of people that could benefit most from better financial capability, enabling us to plan our programme ‘Delivering Change’ to help them.