One and a half million households lack even the most basic of financial products, such as a current account and home contents insurance. A further 4.4 million are on the margins of financial services provision. Despite widespread interest in financial exclusion, however, remarkably little is known about the nature of this problem. Using data from the Family Resources Survey, this report identifies how many households in Britain have no, or very few mainstream financial products, and who they are. The report also draws on 87 in-depth interviews to describe the processes that lead to financial exclusion, and the consequences for households that are excluded financially. The authors document the unmet needs that exist for financial products, drawing upon focus groups with consumers who have no or very few financial products. They conclude by highlighting innovative ways of providing financial services that are more appropriate to the needs of financially excluded households. Kept out or opted out? is invaluable reading for policy makers, debt counsellors and financial advisors, as well as students and academics in the field of social policy.
- ISBN10 1861341598
- ISBN13 9781861341594
- Publish Date 1 March 1999
- Publish Status Out of Print
- Out of Print 6 June 2006
- Publish Country GB
- Imprint Policy Press
- Format Paperback
- Pages 56
- Language English