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The Financial Capability Strategy for Wales is aimed at all key stakeholders including the Welsh and UK Governments, local authorities, housing associations, advice providers, banks, utility companies, community organisations and tackling poverty programmes. The Wales Financial Capability Strategy has links across the Welsh Government’s wider policy environment with particular alignment to the Welsh Government’s revised Financial Inclusion Strategy.
Our research tells us that people in Wales tend to be slightly more likely than the UK average to be struggling to keep up. Overall very similar proportions are actually falling behind in Wales (10%), in comparison to the UK (11%).
24% of the UK say they are keeping up with all bills and commitments, but it is a struggle from time to time, compared with 23% in Wales.
People in Wales were:
In Wales we are calling on organisations to work together to ensure that we:
More detailed analysis focusing on the evidence, needs and priorities for each life-stage and feedback from stakeholders can be found in the Wales Financial Capability Strategy. You can view the Money Advice Service (MAS) Financial Capability Wales Survey report on the MAS website.
More information on the Welsh Government’s Financial Inclusion strategy can be found on the GOV.wales websiteopens in new window.