Published on 05/02/2024
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  • Projects supported by over £1m in research funding worked on over the year
  • 18 reports, research projects and books were published in 2023
  • Projects include work within the connections between money and gambling, social housing, poverty alleviation and mental health.

The Centre for Personal Financial Wellbeing (CPFW) at Aston University has released its debut annual review for 2023.

The Centre's research focuses on the three key themes of developing everyday personal finance, creating financial resilience and revealing the principles of personal financial wellbeing. Its aims are to address effective financial strategies for diverse demographics, balance spending and savings to foster a 'nation of savers' and explore foundational principles to define and measure financial wellbeing.

During 2023, over 500 individuals actively participated in its events, demonstrating widespread community engagement. The Centre collaborated with 34 organisations, hosted 22 events and published 18 reports, research papers and books, demonstrating its commitment to knowledge dissemination. This included co-designing an intervention toolkit with Birmingham City Council (BCC) to reduce the risk of their tenant’s losing their homes due to harmful gambling behaviours, and working with Malvern Hills District Council to aid the development of their regional poverty alleviation strategy. 

The Centre’s online reach saw 10,000 individuals engage across its social media, highlighting its digital impact. It also secured £830k in new funding for several new projects, meaning that it worked on projects with external funding totalling more than £1m over its first year.

Professor Andy Lymer, director of the CPFW at Aston University, said:

“Our first annual review I believe shows that we are already ‘moving the dial’ with our work in key ways in our target field after only a year of operation. We are building impressive momentum in what we are doing as an academic research centre that expressly seeks to make a practical difference with its work in an area that really matters and makes a real difference to people’s lives.

"This is directly in line with the University’s new 2030 Strategy to create positive transformational impact with what we do.”

The Centre encourages anyone who would like to engage with them to reach out, join their socials and contribute to discussions online or attend one of its events.

To see the full annual review from the CPFW, click here.

Notes to Editors

More about CPFW

Established in 2021, the Centre for Personal Financial Wellbeing is an interdisciplinary research centre that seeks to get the heart of the causes and consequences of personal and household financial insecurity.

It focuses on providing accessible and timely insights to support a wide range of leaders and decision makers including those in, the financial service industry, third sector organisations, academics as well as the general public.

About Aston University

For over a century, Aston University’s enduring purpose has been to make our world a better place through education, research and innovation, by enabling our students to succeed in work and life, and by supporting our communities to thrive economically, socially and culturally.

Aston University’s history has been intertwined with the history of Birmingham, a remarkable city that once was the heartland of the Industrial Revolution and the manufacturing powerhouse of the world.

Born out of the First Industrial Revolution, Aston University has a proud and distinct heritage dating back to our formation as the School of Metallurgy in 1875, the first UK College of Technology in 1951, gaining university status by Royal Charter in 1966, and becoming The Guardian University of the Year in 2020.

Building on our outstanding past, we are now defining our place and role in the Fourth Industrial Revolution (and beyond) within a rapidly changing world.

For media inquiries in relation to this release, contact Sam Cook, Press and Communications Manager, on (+44) 7446 910063 or email: s.cook2@aston.ac.uk

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