Financial lives and wellbeing in low-income groups post Covid-19 (FinWell-Covid)
Lead Research Organisation:
Glasgow Caledonian University
Department Name: The YUNUS Centre
Abstract
Amongst those hit hardest by COVID-19, and the associated social and economic measures put in place to combat it, will be people in low-income settings, and, within that group, those in hard-to-reach groups continually threatened by financial exclusion. People in such situations already live in precarious financial situations which could be amongst the most vulnerable to measures such as social distancing and self-isolation. Having recently worked with groups in Glasgow and London to explore the relationship between their financial lives and their health and wellbeing, we have an opportunity to follow up with these same groups in order to assess the impact of COVID-19 and measures such as social distancing on their financial portfolios, their short-term health and wellbeing and wider social determinants of health. We propose to do this via a unique combination of financial diary keeping and regular interviews which we have developed for working with such groups, and which can be adapted for remote working. In addition, we will seek the views of such groups as to perceptions of causes and solutions to COVID-19 which can be reconciled with more evidence-based data from other research projects.
| Description | This project was aimed at better understanding the financial lives and wellbeing of financially vulnerable individuals during/post COVID-19. With a focus on those hit hardest by COVID-19, and the associated social and economic measures put in place to combat it (e.g. social distancing and isolating), this mixed-method study presented a unique opportunity to identify, in depth, changes in the wider social determinants of health induced by COVID-19 itself as well as its associated interventions in some of the most economically-vulnerable members of society. In addition, we explored societal views and perceptions of COVID-19 and responses to it. Day-to-day financial and health management and behaviour were explored using financial diaries. This is an intensive, longitudinal, data collection method consisting of daily financial diary completion, weekly catch-ups, and a monthly interview with participants. The sample for the financial diaries was re-recruited from a previous sample of financially deprived population groups who completed diaries in two prior FinWell projects in Glasgow and London. However, COVID-19 and associated measures have had detrimental impacts on conducting research with and reaching vulnerable participants. Recruitment in this project proved exceptionally difficult for two reasons: (1) COVID-related issues affecting potential participants such as increased workloads -especially for key workers-, more care responsibilities, unpredictable schedules due to job hunting (as lost jobs during the pandemic), and anxiety, stress and other mental health issues aggravated by the pandemic (frequently linked to experiencing domestic violence, comorbidity, loneliness, etc.). (2) Our partners (social businesses and third sector) were adapting their models to new circumstances and were not in a position to help with recruitment of the most vulnerable beneficiaries/users. In consultation with project partners and other research teams working with similar population groups, we successfully adapted the ethics and processes of our recruitment and data collection strategies, recruited 29 diarists and conducted 168 financial diary interviews over the phone. Due to attrition (n=6), 23 diarists completed all financial diaries: 20 in Glasgow (6 refugees) and 6 London participants. To improve our in-depth understanding of people's financial lives: (1) we extended the duration of financial diaries for one month (from proposed 6 to 7) to capture coping strategies at the end of the universal credit uplift period. (2) designed in-depth qualitative interviews (n=9) to provide additional depth on changes in financial management, access and use of particular financial products, and public and private safety networks used/provided during the pandemic. Understanding the lived experience of vulnerable individuals over time is challenging and a key achievement of this project. Evidence suggests that coping strategies and rationales for decision-making have evolved over the course of the pandemic to adapt to changing circumstances. Financial decisions adopted to cope with the short-term effects of the pandemic have had implications on medium-term financial situations and health status. This needs to be taken into account in policy-making. The distinct views of 50 Q methodology participants (professional stakeholders and general public and community) on the pandemic and responses to it inform the acceptability and effective delivery of evidence-based strategies for future prevention and containment. |
| Exploitation Route | The pandemic has worsened the situation of the most vulnerable individuals in society and, consequently, their capacity to participate in research. Reaching these groups, crucial to inform evidence-based policy making and community support, has become more time-consuming and costly. Adapting research methods, alternative to face-to-face data collection, for these vulnerable groups is needed. These groups face digital exclusion, based not only on access but also on IT skills, and there is a need for total flexibility in data collection modes to favour inclusion in research. This has implications for researchers, the third sector and policy makers alike. This study, which analyses the financial and health management of economically-vulnerable individuals over time, will inform effective modes of public and community support after a shock such as COVID-19. Evidence on the connection between financial and health-related individual decision-making and its implications highlights the need for more holistic policies that take into account different areas. |
| Sectors | Communities and Social Services/Policy,Creative Economy,Financial Services, and Management Consultancy,Healthcare |
| URL | https://covidrealities.org/researching-poverty/research-over-time |
| Title | Perspectives of the COVID-19 Pandemic and Societal Responses, 2021-2022 |
| Description | Datasets and interview transcripts from a Q-methodology study with 54 individuals with a range of different experiences of, and expertise in relation to, the COVID-19 pandemic. Participants included, for example, seldom-heard and low-income individuals, health practitioners, health and social policy academics and relevant policy makers, key workers, furloughed staff, and individuals directed to shield by the NHS. Participants from England and Scotland rank ordered 60 statements onto a quasi-normal shaped grid according to their point of view in 2021. The dataset includes data from the Q sorts (n=54), socio-demographic survey (n=54) and post-sort qualitative interviews (n=53). |
| Type Of Material | Database/Collection of data |
| Year Produced | 2022 |
| Provided To Others? | Yes |
| Impact | We are currently still working on academic publications resulting from this dataset. |
| URL | https://reshare.ukdataservice.ac.uk/855895/ |
| Description | Covid Realities research project |
| Organisation | University of York |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | To design and refine our recruitment and data collection methods during the pandemic, we established a collaboration with the 'Covid Realities' research project led by the Department of Social Policy & Social Work, University of York, which was also focused on exploring the lived experiences of vulnerable groups during COVID. Funded by the Health Foundation, the COVID Realities multidisciplinary research team had started conducting longitudinal research earlier than we had. The collaboration led to multiple discussions on ethical approaches and research practices and instruments and our research team publishing a blog in their website on the need to reach the most vulnerable groups and best ways of including them in research projects. |
| Collaborator Contribution | Our collaborators shared their expertise of recruiting and collecting data of the lived experiences of vulnerable groups during the pandemic and remotely with us. |
| Impact | Ibrahim, F., Fenocchi, L., Rendall, J., McHugh, N. and Biosca, O. (2021) "FinWell COVID: Conducting research over time during a global pandemic". Covid Realities blog, 21st June. Available at: https://covidrealities.org/researching-poverty/research-over-time |
| Start Year | 2021 |
| Description | "The Covid-19 pandemic in the United Kingdom: Social policy, politics and impact" colloque - September 2022, in Paris. |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Other audiences |
| Results and Impact | "The Covid-19 pandemic in the United Kingdom: Social policy, politics and impact" colloque aimed at bringing together French and British researchers working on the welfare state and social and health inequalities, and at fostering new collaborations. We found other research groups working in similar topics and promoted our work. |
| Year(s) Of Engagement Activity | 2022 |
| URL | http://www.univ-paris3.fr/the-covid-19-pandemic-in-the-united-kingdom-social-policy-politics-and-imp... |
| Description | Blog entry to Covid Realities blog |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Third sector organisations |
| Results and Impact | To improve the recruitment and data collection strategies with the more vulnerable and deprived sectors of the population during the pandemic, we consulted and collaborated with the Covid Realities project team who had started conducting similar longitudinal research early in the pandemic. This collaboration resulted in a blog discussing our experience in the field recruiting and engaging seldom-heard individuals in mixed-method longitudinal research during a Global Pandemic (published in June 2021). It was targeted to other researchers, third sector organisations and vulnerable research participants aiming to instigate discussion, create alliances and involving more stakeholders in discussions. Also, to recognise the need to adapt if we want to keep the same level of (research) inclusion. Ibrahim, F., Fenocchi, L., Rendall, J., McHugh, N. and Biosca, O. (2021) "FinWell COVID: Conducting research over time during a global pandemic". Covid Realities blog, 21st June. Available at: https://covidrealities.org/researching-poverty/research-over-time |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://covidrealities.org/researching-poverty/research-over-time |
| Description | CHASM seminar series, University of Birmingham |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Over 50 participants attended the online seminar titled "Managing money and health during COVID-19: Financial diaries with individuals living on low incomes", delivered by Prof. Olga Biosca and organised by the Centre on Household Assets and Savings Management (CHASM). The audience was mostly made up of governmental, including HMRC and DWP, policy and third sector organisations involved in financial management strategies. The seminar led to active involvement in the promotion of research related to income/expenditure volatility in low income groups with connections to Joseph Rowntree Foundation and Nest Insight. It was the seed for the new funded project with Nest Insight and Aston University titled Real Accounts. |
| Year(s) Of Engagement Activity | 2022 |
| URL | https://www.birmingham.ac.uk/research/chasm/events/2022/managing-money-and-health-during-covid-19.as... |
| Description | Lismore Heritage Centre Community Presentation, 27th November 2022 - 'Viewpoints on COVID-19 and what have we learned? Revealing nuance in a polarised debate' |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Public/other audiences |
| Results and Impact | 50 community members, including local policymakers and third group organisations attended the talk. This sparked debate afterwards on which of the viewpoints expressed through our work were more valid for Lismore's community. |
| Year(s) Of Engagement Activity | 2022 |
| Description | Presentation at the Social Business Academia Conference 2021 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Postgraduate students |
| Results and Impact | We submitted a working paper for presentation at the Social Business Academia Conference 2021 (from 5 to 6 November 2021). The conference is mainly attended by researchers and third sector stakeholders. Following the online presentation, discussion was invited around the methodological challenges in poverty research and action during the COVID-19 pandemic, the need to change practices in response to these challenges and how to continue to include and engage marginalised groups. We also discussed the longer-term implications for a post-Covid research landscape. We will incorporate these discussions into the working paper draft, finalise and submit to an academic journal. Fenocchi Linda; Ibrahim Fatma; Rendall Jack; McHugh Neil; Baker Rachel; Donaldson Cam; Biosca Olga (2021). Financial Lives and Wellbeing Post Covid-19 (Finwell-Covid). 5th November 2021. Presentation at the Social Business Academia Conference 2021. |
| Year(s) Of Engagement Activity | 2021 |
| Description | Round table JP Morgan Madrid |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | We participated in a round table discussion in Madrid (Spain), hosted by the JP Morgan Foundation and Nantik Lum Foundation, a third sector organisation focused on financial inclusion, on the links between financial management and health and how they can be addressed through practical action and policy making. Stakeholders involved were Spanish Central Bank, the Spanish Financial Conduct Authority (CNMV), and third sector organisations (La Rueca and EAPN). This led to another meeting scheduled to explore the possibility of replicating part of our research project in Spain to compare across contexts. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://nantiklum.org/wp-content/uploads/2021/11/Informe-mesa-expertos-Salud-Financiera.pdf |