Evaluation Scotland Wales

Less than 3 in 10 of the working age population have savings of 3 months’ income

People and saving

Developing a savings habit and a positive attitude towards saving is an essential part of improving financial resilience. The UK is a nation of spenders rather than savers, so financial capability interventions need to promote a saving culture and help people to integrate saving into their day-to-day money management and their longer term goals, such as buying a home and starting a family.

Latest News

  • Thursday 15 November 2018

    Press release: Monzo, the Money Advice Service and the Behavioural Insights Team partner to use behavioural science to help people manage their money better

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Financial capability in action

Help to Save explained

The Money Advice Service guide explains who can get a Help to Save account, how to pay money into it and how the bonus payment works.

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Calls to Action: setting a new vision for financial capability

Five new Calls to Action have been announced as part of The Financial Capability Strategy’s ambitious vision of how, together, we could move effectively towards a more financially capable nation.

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Nest sidecar savings trial launch

Pensions provider Nest is working with employers to test whether joining up pensions and short-term savings can create a better savings balance, and enhance the financial wellbeing of workers.

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Savings strategy

Persistent under-saving in the UK is a key issue for working-age adults, and has been highlighted this as a key issue to address. The Strategy will focus on: reducing the barriers that prevent people from saving, making it easier for more adults to start saving or to save more regularly, and helping more people to build a buffer against financial shocks.

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Life stages across the UK