One of my favourite pieces of personal finance research is the Financial Lives survey.
It comes from our regulator, the Financial Conduct Authority, and looks at the financial situations of people across the country along with the financial products they use and their experiences of engaging with financial services businesses.
The latest Financial Lives survey came out today and it’s a good one! Not good in terms of positive findings, sadly, but good for this personal finance nerd. The headline finding is that there are now 27.7 million adults in the UK with characteristics of vulnerability.
These vulnerability characteristics include poor health, low financial resilience or recent negative life events. If you have one of these characteristics, then you are at greater risk of harm.