Context

There are an estimated 16 million disabled people in the UK. This is nearly one-in-four of the total population (24%) and is expected to grow due to an ageing population and an increase in people living with chronic diseases. There is evidence that, on average, disabled people in the UK have lower financial wellbeing than non-disabled people, which limits their choices and their ability to participate in society. This study is important because it investigates how disabled people define financial wellbeing for themselves and how financial wellbeing varies among disabled people, depending on factors like their age, income and type of impairment.

The study

The study comprised both a qualitative and a quantitative phase. The respondents for each phase were part of a panel of over 3,500 disabled and older people run by the charity The Research Institute for Disabled Consumers (RiDC). The qualitative phase involved 57 disabled participants from the RiDC panel: 34 participants took part in eight focus groups and 23 participants left comments on an online community discussion forum that was open for four weeks. The quantitative survey was sent to all members of the RiDC research panel in April 2023 and 815 people completed the survey in full. The survey was predominantly conducted online; however, panel members could also complete the survey over the phone The study was a collaboration between the University of Bristol’s Personal Finance Research Centre (PFRC) and RiDC. It was funded by abrdn Financial Fairness Trust.

Key findings

Many disabled people in the UK are struggling financially, with some even finding it difficult to afford food and other basics:

• Three-in-ten (27%) disabled households are in serious financial difficulty, compared to one-in-ten (11%) of non-disabled households.
• Nearly one-in-three (29%) disabled people said that ‘it is a constant struggle’ to meet their bills and credit commitments.
• A third (33%) said they were struggling to pay for food or other necessary expenses

In the last six months:

• A half (52%) of survey respondents had been unable to keep their home warm and comfortable.
• A third (32%) had avoided going to the dentist or receiving dental treatment as a result of the cost.
• A quarter (25%) had cut down or stopped receiving medical services that they had been paying for – such as counselling or physiotherapy.

As a result, 45% of disabled people said that their financial situation was making their mental health worse, while 40% said this was true of their physical health. For those on the lowest incomes, these figures rise further to 57% and 50% respectively

Points to consider

• All the participants came from a panel which may have introduced bias. The panel is broadly representative of the population of disabled people in the UK but the report notes where there are differences. The study was made as inclusive as possible by offering different ways of participating.
• Of interest to government, regulators, policy makers, support agencies and disabled people and their families and care providers.
• Highly relevant given the large and increasing numbers of people with disabilities and the inequality that they experience around financial wellbeing.
• The study is broadly representative of disabled people in the UK, including of the variety of types of impairment.