Evaluation Scotland Wales
The UK Strategy for Financial Wellbeing is taking forward the work of the Financial Capability Strategy Opens in a new window

Credit

Credit

Nine million people use credit for everyday essentials such as buying food or paying bills. Of these 9 million, 1.8m are in the ‘financially struggling segment’ and might benefit from more affordable credit, and the remaining 7.2m are in the ‘financially squeezed segment’ who might benefit from becoming more aware of the often hidden costs of credit.

‘Credit Counts’ is one of five ambitious agendas for change set out in the Money and Pension Service (MaPS) UK Strategy for Financial Wellbeing 2020-2030. The goal of Credit Counts is to reduce the number of people using credit for food and bills by two million by 2030.

Below are links to some insights on particular topics within the credit space.

How can we help people who are reliant on credit to make ends meet?

Who is declined credit, why, what is the impact, and how can we help them?

Why don’t people seek financial help sooner?

How can we support people to have better conversations about their money?

What do we know about unregulated or informal forms of credit?