Latest Resident Voice
Index™ finding also shows that close to seven in
10 worry about being able to afford fundamental living
costs
LONDON, June 28, 2022 /PRNewswire/ -- Over half (53%) of
social housing residents surveyed say they have used credit or a
buy-now-pay-later service to cover an essential household cost such
as a food shop or a bill in the last 12 months, according to the
latest output from the Resident Voice Index™ (RVI)
initiative. The survey of over 5,200 social housing residents on
the impact of the cost of living crisis also reveals that nearly
seven in 10 respondents (68%) worry all or most of the time
about meeting normal monthly living expenses.
"The survey makes it clear that households are having to make
tough choices," says Doug Sarney,
Project Lead for the Resident Voice Index™ and Director
at MRI Software. "Alongside over half of respondents reporting
that they have had to use credit or deferred payment schemes to
meet essential household costs, a further 20% considered doing so.
We are seeing a ticking time bomb for households on the edge of
coping."
The Resident Voice Index™ is an independent project that
anonymously gathers the views of social housing residents in the
UK. Developed by MRI Software, a trusted provider of
software to the social housing sector and wider property market,
the short RVI surveys are designed to provide policymakers and
housing providers with insights from residents about their
neighbourhoods and communities. The goal of the project is to
ensure the voice of the resident is heard to improve the
experiences of social housing residents.
Other key results of the survey include:
- Almost nine in 10 of those under age 35 say they are using or
considering using buy-now-pay-later or credit to pay for essential
household costs
- 82% of those under 35 report being worried all the time or most
of the time about meeting normal monthly living expenses
- Only 4% of all respondents say they rarely worry about
money
- Over half (56%) of all respondents didn't know that help or
support would be available to them if they faced a financial
struggle
- Almost six in 10 (58%) respondents do not feel that they have
the power to influence their future financial situation
One of the most significant indicators of the challenges being
faced was the use of the word 'food' in the free-text input from
the latest Resident Voice Index™ survey. Analysis of
these answers reveals numerous examples of parents skipping meals
to feed children, increased use of food banks and people
eating only cold food to avoid using domestic energy.
Key quotes from survey respondents:
- "I have tried to cut back with my food shopping and not
using my heating, but it's proving impossible. We need heat and
food."
- "As I'm struggling now, by wintertime I won't be able to
eat."
- "I can't possibly cut back on anything as I already don't
have money to spend on anything."
- "Life seems to be getting more and more expensive, but wages
are staying the same and the level of help available is either
unreachable or unheard of because not advertised."
- "Mainly eating cold food to cut down on
electricity."
- "I expect my worry and concern will increase. With no scope
to earn more or work a second job, with a pay rise that has
disappeared to rising costs already, I know that I will be looking
to shave even more off food and clothing."
A core theme that emerges from the results is that residents
feel there is nothing more to cut. Many respondents indicate
that they are already living on tight budgets.
"This is not just an instance of forgoing holidays, trips out
with the family or self-proclaimed luxuries," Sarney notes.
"Instead, for a proportion of those who answered, it is applying
increased pressure to already bare-bones living. For those of
pension age or who are unable to work – for example, because of
disability or raising children – earning more money is simply not
an option."
Sarney concludes: "We anticipated the survey results to be hard
hitting. However, we were not prepared for the high levels of
desperation, extreme worry and hopelessness in the responses.
References to catastrophic mental health slides and suicide were
common in the free-text input of respondents. Our hope by sharing
these accounts is to inspire anyone with the ability to enact
change to do so."
About MRI Software
MRI Software is a leading global provider of real estate
software solutions that transform the way communities live, work
and play. Its comprehensive suite of cloud-based products and
applications that form the MRI Living™ for Social Housing
offering delivers flexibility, choice and scale to more
than 850 clients in the UK and Ireland. Worldwide, MRI Software serves more
than 3,000 organisations in social, affordable, public and
community housing. Built on a foundation of industry expertise and
innovation, our solutions are helping create thriving, connected
communities and deliver better resident experiences.
For more information, please visit www.mrisoftware.co.uk
You can download a copy of this report at
residentvoiceindex.com
Media Contacts:
(EMEA for MRI)
Katrina Trantau
Platform Communications
Katrina@platformcomms.com
+44 7597 163076
Hugh Filman
Platform Communications
hugh@platformcomms.com
+44 7905 044850
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