Household financial decision making: Qualitative research with couples

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Decision-making typologies
3.2.4 
Continued
When this couple have to make significant decisions, it is Cara who tends to raise the issue, and 
then continually brings it up in conversation, developing the subject to find a solution they both 
agree on. Cara typically does all of the research, and presents what she feels are the best options 
to Tim for discussion. Unusually, when they made their most recent significant decision – to buy 
their first home – it was Tim who introduced the idea, after complaining about paying rent to 
Cara’s mother. 
‘He did when I showed him. He is really lazy. He doesn’t do anything. He will just wait for me to 
do it. Then I do it, show Tim what the best one is and what we would be paying monthly and 
he agrees, and I do it, usually.’ 
(Cara)
They report that the final decision is a joint one, although Tim is simply agreeing with an option 
Cara has already identified as the best one.
‘I just go along with everything unless I don’t agree with something.’
(Tim)
Both Cara and Tim feel that retirement is a long way off – too far away to consider at present. They 
find it very difficult to imagine themselves or their lives in 20 years’ time. 
‘I have not even been working full-time for a year and to be thinking about when I stop work, 
what? It seems madness.’
(Cara)
Cara has an NHS workplace pension which she was offered through her job. She talked to friends 
and family and asked them for advice before joining the scheme.
3.3 
Type 2: Cautious and Content
Couples in the Cautious and Content group tended to be older than those in the other two, owning 
their homes outright or being close to doing so. Most had grown-up children; some also had 
grandchildren. Couples in this group were generally careful with money, and stressed the importance 
of not exceeding their limits. Their ambitions were typically tempered by what they thought they 
could afford. The majority were uneasy about using credit, preferring to spend only what they had.
‘I think it is quite important to meet your commitments and pay for what you have as you go 
along. I am not a big borrower. If we have something, I pay for it, and that’s the way we’ve 
always been.’
(Darren, 40s, North West)
Couples in this group reported being quite comfortable managing their household finances. They 
were not necessarily in strong financial positions, but felt they had matters under control.
‘It [managing finances] doesn’t worry me. I am quite happy paying bills, looking at savings, 
looking at your outgoings, your in-goings, your internet accounts, savings, rates, looking at 
pensions, looking at any type of saving schemes such as ISAs. I am quite comfortable with
the terms and what they all mean, generally.’
(Steve, 40s, Midlands)

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