For interventions targeting children and young people aged 3-18, and parents’ seeking to develop their children’s financial capability.

Children, young people and parents outcomes framework

The children, young people and parents outcomes framework reflects the elements of financial capability that young people need in order to manage their money well between the ages of 3 – 17/18, and to ensure they are on track for achieving financial wellbeing in adulthood.

In addition to the children, young people and parents outcomes framework, we have developed an outcomes framework for parents as key messengers of financial attitudes, knowledge and skills for their children. This framework has been created with consideration of the key outcomes for children and young people and the ways in which learning develops throughout childhood to formulate a set of outcomes to help children achieve greater financial capability. Use the link to the right hand side of the page to download the full framework.

The schematic below summarises the outcomes included in children, young people and parents outcomes framework. Use the link on the right hand side of this page to download the full framework with indicators and survey questions.

The children and young people framework differs from that for adults in order to reflect the important formative influences on children and young people, and because some dimensions of adults’ financial experiences are not relevant to those under 18. Specifically:

• In the children and young people framework, the ‘external pressures’ from the Adult Framework has been replaced by ‘responsibilities’, reflecting the benefits for children of learning through experience
• The children and young people framework does not include ‘tackle problem debt’ as a financially capable behaviour, since this becomes relevant only once people have access to credit at the age of 18
• Financial wellbeing for children and young people is not exactly equivalent to financial wellbeing for adults — the definition of financial wellbeing used throughout the UK Strategy becomes relevant only when people have achieved financial independence.