Financial capability gives people the power and the confidence to make the most of their money and improve their lives.
Financial capability is the ability to manage money well – both day-to-day and through significant life events like having a baby, getting divorced or moving home.
Being financially capable means you have the resilience to handle times when life is financially difficult – like when you lose your job unexpectedly or you can’t work due to illness.
But financial capability is more than this. It’s also an attitude, that is more than just living for today – it’s having the confidence to put your money skills into practice, and understanding the value of doing so.
Being financially capable means:
A financially capable person:
Financial capability – or the lack of it - has a profound effect on a person’s overall well-being.
But in the UK, far too many of us are struggling to manage our money well, with far-reaching consequences for us, our families and society.