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Tracking Financial Vulnerability in the UK

October 29, 2021 update: This data catalog entry was first published in March 2021. In October 2021, we added three new quarters of data (Q3 2020, Q4 2020, and Q1 2021) and updated the index for all periods between Q3 2017 and Q2 2020 based on new data from the 2020 Financial Lives Survey.

This dataset contains statistics presented in the "Tracking Financial Vulnerability in the UK" project. These statistics include data on six facets that capture a household’s ability to manage daily finances and resist economic shocks: (1) carrying defaulted debt, (2) claiming work-related social benefits, (3) holding a high-cost loan, (4) relying heavily on credit, (5) lacking emergency savings, and (6) using alternative financial products. These components are measured using Lowell’s research and operational data, the UK Financial Lives survey (2017 and 2020), and data from the UK’s Department for Work and Pensions and the Office for National Statistics and are available by quarter from Q3 2017 to Q1 2021.

To create the index, we linearly interpolate the data on the share without emergency savings and the share using alternative financial products for the years 2018, 2019, and 2021. We create the index by standardizing each component, weighting each component using factor analysis, and normalizing the index from 0 to 100. Details on data sources, index methodology, and why these components were chosen and how they are defined are available in our technical appendix.

These data are a joint project of the Urban Institute and Lowell. Urban and Lowell researchers are collaborating on all stages of the research. In addition, Lowell provides funds and operational and research data used to create the index.

Please see the technical appendix for additional details.

These fields are compatible with DCAT, an RDF vocabulary designed to facilitate interoperability between data catalogs published on the Web.
FieldValue
Modified
2021-10-28
Release Date
2021-03-16
Identifier
7cbcaf76-d77a-4b2f-8f6c-cef10ab61784
License
Copyright © 2021 Metis Bidco Limited, part of Lowell. All Rights Reserved. Permission is granted for reproduction of these files, with attribution to Metis Bidco Limited, part of Lowell.
Contact Name
Urban Institute
Contact Email
Public Access Level
Public
These fields are specific to Urban Institute.
FieldValue
Geographic Level
Data Value
Data Quality or Limitations

See technical appendix.

Urban Publications
Citation Requirements

Breno Braga, Signe-Mary McKernan, William J. Congdon, Kassandra Martinchek, Alexander Cather, Caleb Quakenbush, Elizabeth Mandiville, Mark Hayward, and Christopher Trepel. 2021. Tracking Financial Vulnerability in the UK. Urban Institute and Lowell. Accessible from https://datacatalog.urban.org/dataset/tracking-financial-vulnerability-uk.