This Strategy aims to improve financial capability across the UK. That means improving people’s ability to manage money well, both day to day and through significant life events, and their ability to handle periods of financial difficulty. It will focus on developing people’s financial skills and knowledge, and improving their attitudes and motivation. This, combined with an inclusive financial system, can help people achieve the best possible financial wellbeing.
The belief, and the consistent message from stakeholders, is that levels of financial capability must be improved from their current low levels, and that if everybody works together it is possible to rise to the challenge. The changing financial environment makes this more important than ever before.
Why is it so important?
What is in the Strategy?
The Strategy sets out a clear description of the problem that needs to be solved and why it matters. It describes what success looks like over the lifetime of the Strategy and how the aims of the Strategy will be achieved.
For the Strategy to be a success it is important that resources are allocated to interventions that are proven to work.
The Strategy sets out the issues across a number of different themes and for each of the devolved nations (Northern Ireland, Scotland and Wales). We have produced a range of documents to allow stakeholders to understand the different audiences:
- Executive Summary (4 pages)
- The UK Financial Capability Strategy (44 pages)
- The UK Financial Capability Strategy - including supplementary evidence and analysis (100 pages)
The 'Strategy - including supplementary evidence and analysis' has also been broken down into sections for those with a specific interest in any of the following areas: