Financial well-being in supported accommodation: an analysis of the nature and extent of clients’ financial problems and support strategies

Abstract

Purpose Due to the deinstitutionalization, many individuals with severe mental illness are able to live independently nowadays, by making use of supported accommodation. The financial well-being of these individuals significantly influences their overall quality of life, yet this aspect remains underexplored. This study aims to enhance the understanding of the financial circumstances of supported accommodation clients and the specific support mechanisms they rely on. Design/methodology/approach This investigation involved an examination of electronic patient records from a large supported accommodation organization. Additionally, an online questionnaire was distributed to staff members to elucidate the prevalence of financial support among clients, the nature of such support and the extent of financial challenges they face. Findings In total, 25% of clients were found to be in debt, with a majority carrying debts exceeding €5,000. Financial support was extended to over half of the supported accommodation clients. Notably, 17% of clients with intricate financial issues were assigned to a budget coach. The most common forms of support included assistance with financial administration and protective guardianship, whereas clients with more complex problems primarily received support in budget management and financial skill development. Originality/value This study highlights a significant prevalence of financial challenges among supported accommodation clients. Recommendations include investing in staff training programs to further develop knowledge and skills. Additionally, the effectiveness of current financial support initiatives requires further investigation.