Financial Capability - UK - September 2016
“Engaging consumers early and making it easy for them to develop good habits and pick up knowledge is key to raising financial capability. Developments such as the introduction of compulsory financial education and the launch of the UK Financial Capability Strategy have put financial capability at the heart of strategy decisions in both the public and private spheres. As consumers are being forced to take more responsibility for their personal finances, financial services providers cannot afford to ignore financial capability issues as they seek to deliver more services directly to consumers.”
– Rich Shepherd, Senior Financial Services Analyst
This report examines the following issues:
- Consumers see opportunities for advice, but need to be convinced
- Making finance fun can be hard, but interest is a key part of capability
- Compulsory education should produce a more capable population
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