Real Accounts - lifting the lid on volatile incomes
In spring 2023, Nest Insight, the Centre for Personal Financial Wellbeing at Aston University, and the Yunus Centre for Social Business and Health at Glasgow Caledonian University launched the Real Accounts project. Believed to be the first study of its kind in the UK, this new research programme builds an in-depth understanding of the lived experience of financial uncertainty among low to moderate income (LMI) households across the country.
In contrast with the snap-shot data achieved by annual surveys, this long-term study provides a fully joined-up view of household finances, capturing the day-to-day, week-to-week ups and downs, and working with households to understand the situations they face and the strategies they use to manage their money. The project used a research data collection app, custom designed by Moneyhub, to capture real-time income and expenditure transaction data over 3-10 months for a sample of 51 LMI households, combined with monthly qualitative interviewing.
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