Survey Variable: Types of Property Owned

As mentioned when considering income, that concept needs to be distinguished from wealth, which is the assets that one holds (less one’s liabilities). Assets might take the form of savings, investments, art or, most commonly, property. The latter was asked about in the survey, and respondents indicated whether they owned five types of property: residentialContinue reading “Survey Variable: Types of Property Owned”

Survey Variable: State Benefits Received

Beyond income and ability to keep up with bills, a key indicator of economic capital is whether someone qualifies for support from the state. In the United Kingdom, the state offers a range of different benefits for people who fall below certain financial thresholds or are in circumstances that qualify them for support. Receipt ofContinue reading “Survey Variable: State Benefits Received”

Survey Variable: Keeping up with Bills

When thinking about people‚Äôs economic circumstances we need to consider not only their earnings and assets but also their liabilities, such as the bills and payments that they have to make. It is possible for someone with a high income or a great deal of wealth to nevertheless face financial difficulties if they have highContinue reading “Survey Variable: Keeping up with Bills”

Survey Variable: Daily Use of Time

Respondents were asked to indicate approximately how long they spend on a range of common activities during an average weekday. Specifically, they were asked to indicate roughly how many hours they spend sleeping, caring for family, doing housework, doing their job, commuting to work, commuting to study (if applicable), studying (if applicable), looking after themselvesContinue reading “Survey Variable: Daily Use of Time”

Survey Variable: Housing Status

The housing status variable indicates whether respondents own their homes outright or with a mortgage, or rent them from a local authority, private landlord, or housing association. Using weighted data, Figure 1 shows that around a third of respondents (33.6%) owned their homes outright whilst a further third (32.2%) are buying their homes. The remainingContinue reading “Survey Variable: Housing Status”