Beyond individual responsibility – towards a relational understanding of financial resilience through participatory research and design

Anne K Angsten Clark*, Sara V Davies, Richard Owen, Keir S A Williams

*Corresponding author for this work

Research output: Contribution to journalArticle (Academic Journal)peer-review

Abstract

This paper contributes to an increasingly critical assessment of a policy framing of
‘financial resilience’ that focuses on individual responsibility and financial capability. Using
a participatory research and design process, we construct a ground-up understanding of
financial resilience that acknowledges not only an individual’s actions, but the contextual
environment in which they are situated, and how those relate to one another. We
inductively identify four inter-connected dimensions of relational financial resilience:
infrastructure (housing, health, and childcare), financial and economic factors (income,
expenses, and financial services and strategies), social factors (motivation and community
and family), and the institutional environment (policy and local community groups,
support and advice services). Consequently, we recommend that social policies
conceptualise financial resilience in relational terms, as a cross-cutting policy priority,
rather than being solely a facet of individual financial capability.
Original languageEnglish
Number of pages18
JournalJournal of Social Policy
Early online date23 Jan 2024
DOIs
Publication statusE-pub ahead of print - 23 Jan 2024

Bibliographical note

Funding Information:
We would like to thank the community researchers and the Boost and GWCU team members who co-led and made this research possible: Moustapha Ahmed, James Berry, Rahana Davis, Valerie Davis, Claudia Dimitriu, Lisa Dora, Elmi Duucale, Iqbal Osman, Hari Ramakrishnan, and Claire Royall. We would also like to thank Sharon Collard, Daniella Jenkins, and Caitlin Holme for their advice and support. The research discussed in this article was funded by the Brigstow Institute at the University of Bristol, the Research England Policy Support Fund, and the ESRC Festival of Social Science.

Publisher Copyright:
© The Author(s), 2024. Published by Cambridge University Press.

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