Household financial decision making: Qualitative research with couples

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Decision-making typologies
3.4.3 
Defining characteristics
The Organised Aspirational group is characterised by the following features:
• One partner plays an alpha role and the other a beta role, but the two individuals tend to be more 
similar to each other in their approach to finances, than partners in the other two groups are.
• Alpha partners are usually women, and carry out a typical ‘researcher’ role.
• Beta partners tend to be quite relaxed about finances, but are capable of fulfilling the alpha role
if necessary.
• Alpha partners typically lead the decision-making process, however, beta partners usually become 
involved in the final stages and contribute to the final decision. 
• Couples in this group tend to recognise the importance of retirement planning, though younger 
couples in particular are unlikely to have made any provision for retirement. 
3.4.4 
Case study: Ryan and Sarah
Ryan and Sarah are in their 30s, recently married and living in outer London with their son. Their 
most recent significant decision was triggered by Ryan’s redundancy: they decided that Ryan 
would try a career as a musician.
Ryan used to work in sales but is now working as a session musician and hoping to make a name 
for himself in the music industry. Sarah has a temporary admin job with a housing association. 
The couple see financial decisions as important and based on ‘teamwork’. They try to meet every 
month to discuss their finances, sitting at the kitchen table to talk. While the household bills tend 
to stay the same, they discuss the things they want, their goals. Both check their bank statements 
‘on a daily basis’ and are always looking for ways to save money, using tools such as Money Saving 
Expert. They are currently researching life insurance products, in order to provide for their son, 
should anything happen to them.
‘Since we got married we sit down and try and have at least a monthly or a quarterly meeting. 
I hate it. My wife Sarah, she likes to make sure that everything is covered.’
(Ryan)
When this couple make significant decisions it is typically Sarah who identifies a need, but Ryan 
generally agrees with her. Sarah is then usually responsible for researching their options. Ryan 
feels that Sarah is more capable of doing this than he is; he reports noticing advertisements and 
being interested in managing their finances and making decisions, but admits to getting distracted 
easily. Generally, the final decision is collaborative, although Sarah admits that she would prefer 
Ryan to simply choose one of the options that she has already identified.
‘Any kind of major decisions, we always talk about it and consult on it. There is some stuff 
where Ryan says, “Take charge and you don’t even need to ask me.”’
(Sarah)
 
‘She is amazing. She’s online, and like, 20 minutes later, it’s done.’
(Ryan)

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