Policy & Research
People who are financially excluded, i.e. those without bank accounts, those who prefer to manage their budgets in cash, or those who are denied access to mainstream credit facilities, often end up paying more for goods and services because of how they pay. In addition a lack of knowledge and understanding of money issues can frequently lead to poor financial decision-making. The unintentional consequences of which can result in people finding it harder to budget, struggling to afford basic everyday essentials, such as food, fuel and other housing costs, and being more prone to unmanageable debt and exploitation from unscrupulous providers.
Consumer Focus Wales highlights and researches problems consumers encounter when dealing with money issues, with a particular focus on people who are financially excluded or particularly disadvantaged.
Our work in this area seeks to ensure people have access to:
- banking products that meet their needs and circumstances;
- affordable and appropriate forms of credit, savings and insurance;
- readily available debt and money advice;
- and ultimately that the consumer interest is at the heart of policy decisions made by both the government and the financial services industry.
1 April 2011
Copies of a new DVD from Consumer Focus Wales showing how young people cope financially after leaving the care system are being sent to local authorities across Wales today. ‘From care to where?’ examines the extent and nature of financial exclusion experienced by young people leaving care in Wales. It explores how young care leavers [...]
6 October 2010
Wales could be facing a ‘debt crisis previously unseen in retired people’ – that’s the warning from a new report looking at older people’s finances in Wales.
3 August 2010
‘Our research shows there may be a ‘ticking time bomb’ in terms of people’s ability to cope financially over the coming months. There are already signs that consumers might be overstretching themselves.'
8 March 2011
This report examines the extent and nature of financial exclusion experienced by young people leaving care in Wales.
16 November 2010
Earlier this year Consumer Focus Wales undertook a major nationwide population survey to monitor the ‘financial health’ of consumers in Wales. The study examined views on a variety of money issues, including the type and level of consumer borrowing and people’s ability to meet their financial commitments.
6 October 2010
This report examines the extent to which older people are managing financially, especially in light of the recent economic downturn; identifying specific areas of financial detriment, along with some worrying signs for the future given that some older people are only just coping now and more could struggle in the future.