Household financial decision making: Qualitative research with couples

3.3.3 
Defining characteristics
Couples in the Cautious and Content group can be summarised as follows: 
• there is a dominant alpha partner, usually a man, who plays the traditional ‘breadwinner’ role in 
the relationship;
• Cautious and Content beta partners usually fulfil the traditional ‘homemaker’ role;
• beta partners are mostly disengaged from long-term household finances, but may lead small 
decisions, such as purchases for the home or children;
• the beta partner may carry out research but the alpha partner generally takes a much more
active role in significant financial decisions, and may even take action without consulting the
beta partner;
• both partners tend to have some provision for retirement in place, but alpha partners often have 
more comprehensive arrangements than beta partners.

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Decision-making typologies
3.3.4 
Case study: Debbie and Mathew
Debbie is in her early 50s and Mathew is in his early 60s. They live on the outskirts of London. They 
have not made any significant decisions in the last few years. Mathew works in the healthcare 
industry as a consultant and earns a high salary; Debbie is a part-time florist, earning a significantly 
lower salary than her husband.
Mathew is ‘conservative by nature’ and takes charge of their longer-term financial planning. He will 
often act quite independently in making these plans, preferring not to ‘burden’ Debbie or ‘worry 
her that I am about to die’. Debbie does not believe that she has the capability to make complex 
financial decisions. She has a well-defined comfort zone limited to product insurance
and purchases for their home.
‘Some investments, your money is tied in which I find is quite frightening. It doesn’t seem to 
be relayed in layman’s terms. It’s all a bit confusing.’
(Debbie)
 
‘I struggle a bit with complex finance, things like life insurance and pensions and the like but 
just day-to-day management is not a problem. That’s fine.’
(Mathew)
When the couple have to make everyday decisions regarding their home, holidays or smaller 
purchases, Debbie tends to have an idea and raise it for discussion. Her first step is to ask Mathew 
whether they can afford it. Effectively this is the point where he signs off the decision. Debbie then 
does all of the research and tends to make the final decision herself, assuming that Mathew will not 
be interested. However, for long-term decisions (e.g. about their savings) Debbie trusts Mathew to 
make the best decision and generally isn’t involved. Mathew effectively makes these decisions alone.
‘If it’s something in the house, I think I’d probably have the final say. He would have the say on 
the spending, but I would probably have the say on what it would be.’
(Debbie)
 
‘I suppose I would tend to make the financial decision but I would leave all the design and 
research to her. I suppose that is how it normally goes really.’
(Mathew)
Mathew began making contributions to a workplace pension when his employer arranged one for 
him in his late 30s, but thinks that its value is poor because of the financial climate. He now thinks 
he may have to work into his seventies until it will provide a reasonable income. Debbie has no 
pension provision and has recently become concerned by this. With Mathew’s help, she applied for 
a State Pension Forecast. She expects to depend on Mathew in her retirement.
‘I will probably be working until I am 120 anyway so it is not going to make any difference!’
(Mathew)
Other family members have downsized, and the couple state this as a possible source of income, 
although Debbie finds the idea upsetting.
‘I know it’s only bricks and mortar, but I’m very emotionally attached to it.’
(Debbie)

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