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.
Press release: Monzo, the Money Advice Service and the Behavioural Insights Team partner to use behavioural science to help people manage their money betterRead more
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.Learn more
Different life stages have an effect on people's ability to manage their money.