Household financial decision making: Qualitative research with couples

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Research report
Household financial decision 
making: Qualitative research 
with couples
by Andrew Wood, Kate Downer, Becky Lees and 
Annalise Toberman

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Department for Work and Pensions
Research Report No 805
Household financial decision 
making: Qualitative research 
with couples 
Andrew Wood, Kate Downer, Becky Lees and Annalise Toberman
A report of research carried out by RS Consulting on behalf of the Department for Work
and Pensions

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© Crown copyright 2012. 
You may re-use this information (not including logos) free of charge in any format or medium, under 
the terms of the Open Government Licence.
To view this licence, visit http://www.nationalarchives.gov.uk/doc/open-government-licence/
or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, 
or email: [e-mail].
This document/publication is also available on our website at:
http://research.dwp.gov.uk/asd/asd5/rrs-index.asp
Any enquiries regarding this document/publication should be sent to us at: 
Central Analysis Division, Department for Work and Pensions, Upper Ground Floor, Steel City House, 
West Street, Sheffield, S1 2GQ
First published 2012.
ISBN 
978 1 908523 79 2
Views expressed in this report are not necessarily those of the Department for Work and Pensions or 
any other Government Department.

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iii
Contents
Contents
Acknowledgements ...................................................................................................................................v
The Authors ................................................................................................................................................ vi
Abbreviations and glossary of terms ................................................................................................... vii
Summary .....................................................................................................................................................1
1 Introduction .........................................................................................................................................5
1.1 Background ...............................................................................................................................5
1.2 Research objectives .................................................................................................................6
Behavioural economics .............................................................................................................6
1.3 Policy objectives .......................................................................................................................6
1.4 Project methodology ..............................................................................................................7
1.4.1 
Research design .........................................................................................................7
1.4.2 
Target audience .........................................................................................................7
Recruitment criteria used .........................................................................................................8
2 Attitudes to financial decision making ........................................................................................ 10
2.1 Attitudes to managing finances ........................................................................................ 10
2.1.1 
Factors influencing attitudes ............................................................................... 11
2.2 How couples go about decision making .......................................................................... 12
2.2.1 
Triggers to decision making ................................................................................. 12
2.2.2 
The process itself .................................................................................................... 13
2.3 Roles played in the decision-making process ................................................................. 14
2.3.1 
Alpha and beta roles .............................................................................................. 14
2.3.2 
Male and female roles ........................................................................................... 15
3 Decision-making typologies ........................................................................................................... 18
3.1 Creating typologies .............................................................................................................. 18
3.2 Type 1: Unbalanced Responsibility .................................................................................... 19
3.2.1 
Decision-making dynamics .................................................................................. 19
3.2.2 
Attitudes towards retirement planning ............................................................. 20
3.2.3 
Defining characteristics ......................................................................................... 21
3.2.4 
Case study: Cara and Tim ..................................................................................... 21

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