Digital factors supporting decision making in the financial well-being of social housing residents

This paper draws on quantitative and qualitative research from social housing tenants in Ireland, exploring the relationship between digital access to financial resources and financial well-being. We find that using the mobile phone to check a bank balance is associated with decisions around financial commitments (not running out) and resilience (having savings, being able to withstand a shock). Using the internet to check a bank balance is correlated with not having financial difficulties. However, paying bills via mobile phone is correlated with not having money left over at the end of the month and not saving, suggesting an increasing impulsiveness in decision making. IT-enabled banking and commerce have positive and negative implications for day-to-day money management and expenditure decisions. We therefore suggest further multi-disciplinary research on the opportunities for information technology to inform policy and practice around prudent money management decision making for consumers.