Financial management in long-term low-income households: comparing perspectives of professionals and families in Portugal

Long-term low-income households face economic hardship, together with a lack of opportunities, which restrict their social participation. There is a widely held belief among professionals that these households poorly manage their finances. This exploratory study aims to gain a deeper understanding of these households' difficulties and strategies of family financial management in Portugal, taking into account the perspectives of both members of the households and professionals. Comparing viewpoints is relevant in order to identify how they might be informing interactions and interventions. A qualitative approach based on semi-structured interviews was used; the sample comprised 10 household members and 10 professionals. The main findings suggest that professionals believe these households demonstrate insufficient management strategies, while household members report struggling to manage insufficient resources. These distinctive views seem to facilitate interaction patterns characterized by mutual distrust, which should be taken into consideration when designing interventions, particularly concerning financial management.