We know there is a strong relationship between financial problems and poor health generally, but there is little evidence that looks at the specific relationship between finances and progression to multiple long-term conditions.
The four key questions that we are looking to answer through this work are:
Glasgow Caledonian University recently led a two-year project in Scotland to better understand how people living on low incomes in Glasgow manage their finances and how this impacts their health and wellbeing.
FinWell looks at the financial lives of people living with multiple long-term conditions in Lambeth and Southwark, focusing in particular on the management of personal finance. The team is working with micro-credit providers Fair Finance, alongside other partners, to recruit participants and to inform the work.
Through this project, we want to explore vital questions like how the finances of people with multiple long-term conditions impacts on their health, and conversely how their health might impact on their financial situation. We want to know what could be done to support people with financial issues and long-term conditions and what are the windows of opportunities to intervene.
The research includes:
Our recent research, From one to many, found that people living in areas with the highest levels of deprivation in Lambeth are diagnosed with multiple long-term conditions 10-12 years earlier than their more affluent neighbours. This has led us to focus part of our efforts on the social context people live in – and to look for opportunities to address these wider social factors in order to slow down progression to multiple long-term conditions.
By better understanding the financial lives of people living with long-term conditions, and by pooling these insights with others such as findings from the US and Glasgow, we will be able to make more informed decisions about how to address what we believe is a key factor impacting on progression to multiple long-term conditions.
We plan to share key findings throughout the project, and at the end of the research in early 2020. We expect this work will add to the evidence base on how finances impact on people’s journeys to multiple long-term conditions and will help guide our efforts to improve the social context of those at risk of rapid progression to multiple conditions.
Portfolio Manager: Rohan Martyres
18 August, 2020
Where you live matters for your health – and rental insecurity increases the risk of both physical and mental health problems. As the ban on evictions during the Coronavirus pandemic eases, we are funding a range of support for people and households at risk of eviction and ill health.