The Centre for Financial Capability

📢 📢 We are delighted to today launch our new and ground-breaking survey on #financialcapability! We are calling on all charities with an interest in financial capability and literacy to take part in this short survey. 👉 You could also win £1000 for your charity by taking part! The aim of this survey is to support charities with a longer-term solution to develop families and young people's money management skills, which has been shown to be particularly effective at building long-term financial literacy and resilience. This survey is part of a wider piece of ground-breaking research, which will unite the financial services and investment industry to greater support financial capability across the UK. *** To take part follow this link or scan the below QR code: https://lnkd.in/ecaHhed6 ***

📉 It's concerning to see new research from abrdn reveal that 44% of UK adults have 'poor financial literacy', when assessed to the international standard of the Global Financial Literacy Excellence Center (GFLEC). This lack of financial literacy is proven to be harmful to long-term financial health. 💵 The Centre strongly echoes the recommendation in abrdn's manifesto that financial education provision must be extended to all primary schools and embedded into the curriculum, so that the stark deficit in UK financial literacy is properly addressed for future generations. Read more here: ➡ https://lnkd.in/egDvE9nf 🏫 Their manifesto also cites our important research that 76% of schools with children most in need of financial education are situated in more deprived areas, demonstrating the strong link between financial deprivation and the need for financial education. 📈 It is vital that all children and young people receive high-quality and effective financial education starting from primary school, so that they are equipped to navigate critical financial decisions in life. 7️⃣ This must begin as early as possible, as research shows that money habits are formed by age seven. IFA Magazine #FinancialEducation #FinancialLiteracy #primarycurriculum

👏 Really great to see Centre member TISA UK recognise that financial education at primary level is absolutely essential to promoting better overall financial wellbeing in the UK population. In their newly launched manifesto, they are calling for the next Government to build financial education into the primary school curriculum – a proposal which the Centre fully supports.

📈 The Centre has been thrilled to see our Director Stewart Perry featured several times in the media in recent weeks, championing the cause of #FinancialEducation. 📒 In late May, the Education Select Committee's published its long-awaited report on 'Delivering effective financial education', in which the Centre's research was mentioned. It was great to see that the Centre's response urging the next government to adopt its recommendations – including making financial education a statutory part of the primary school curriculum – was featured in both FE News and This Is Money. 👉 Read more here: https://lnkd.in/ewUCSznb 👉 and here: https://lnkd.in/eeCxHtUp. 💳 Stewart also featured in an article by The Times on how children are increasingly turning to enterprising online activities to supplement their pocket money, in which he highlighted the importance of children receiving financial education as early as possible. 👉 Read here (paywall): https://lnkd.in/etYm7PdD It's fantastic to see the Centre continue to gain coverage in the news, even with a busy election period up ahead. ⏩ Keep your 👀 peeled for more upcoming coverage! #FinancialEducation #charity #EducationSelectCommittee

Fantastic to see our Member GoHenry’s excellent Financial Education Manifesto, which sets out a clear plan for how the next Government can improve delivery of financial education in schools. The UK is in the midst of a financial capability crisis, and it is vital that the next Government takes urgent action to ensure the next generation are equipped with the skills and behaviours necessary to navigate an ever more complex and evolving financial landscape. This must start with financial education being taught in all primary schools! You can read more here, including support for the Manifesto from our Director Stewart Perry: https://lnkd.in/epi-XUD3 #FinancialEducation #manifesto #PrimarySchool

📖 Today, the #EducationSelectCommittee has published its landmark report on Delivering Effective Financial Education in the UK, which recognises the importance of building a strong foundation for financial education, starting at Primary School. 👍 🎉 Key recommendations include making #financialeducation a statutory part of the primary school curriculum, providing support and training opportunities to teachers from the very outset and throughout their careers on how to deliver Financial Education lessons and joining the next #PISA financial literacy assessment. 🙌 👀 All eyes on the Department for Education and how the Government will respond to the findings of this landmark inquiry. 👀 ⏲ Time to give our young people the best possible chance at navigating today's complex financial landscape. 🎓 Carol Knight Stewart Perry The Centre for Financial Capability TISA UK Nici Audhlam-Gardiner Erin Ellis Christiana Stewart-Lockhart Billy Bradley Joe Meadows Ali Dagwell Katie Vye Colin Clarke Sabrina Rowe

Fantastic news and absolutely great to see GoHenry and Louise Hill mentioned so prominently. There is such urgent need to rethink how we develop and deliver financial education to children and young people. It often feels that it is up to the innovative solutions by FinTech's such as GoHenry or great initiatives as delivered by MyBnk (Leon Ward) to make up for a lack of financial education provision in Schools. Well done on delivering such important evidence and helping to shape the outcome of this enquiry to everyone at GoHenry! As a trustee at The Centre for Financial Capability it is also great to see our evidence published - thanks to Stewart Perry and my fellow trustees for putting this together. Let's hope we will see some actual change in how financial education is provided at such an important stage in life.

The #EducationSelectCommittee has today published the report from its recent inquiry into #FinancialEducation, and the Centre fully supports its recommendation that financial education provision in the UK must be expanded for primary-aged children. 🙌 🎉 This is a fantastic outcome, truly a landmark step to building a stronger financial future for children and young people across the UK! 🎉 📒 We are absolutely thrilled to see the Committee recommend financial education become a statutory part of the primary school curriculum, as this is an issue the Centre has been campaigning on since 2021 and through the KickStart Money campaign since 2018! 📖 We were also very glad to see the Centre’s research mentioned in this report – we contributed to the inquiry by submitting written evidence and through the compelling oral evidence of one of our Trustees, Louise Hill, CEO of GoHenry. 🏫 Our submission highlighted the dire state of financial education provision in primary schools, with our research finding that, shockingly, just 1 in 3 primary-aged children receive any form of financial education at school. We see the recommendations of this report as a major first step to improving on the current patchy delivery of financial education. Our Director, Stewart Perry, responded to the inquiry’s report:  “We are delighted to see the recommendation that provision of financial education should be expanded at primary level and that the subject should become a statutory part of the curriculum. We look forward to hearing the Government's response to the findings of this landmark inquiry, and we urge Department for Education to implement the Committee’s recommendations as soon as possible to give our young people the best possible chance at navigating today's complex financial landscape.” 💳🎮 You can read the full report here: https://lnkd.in/e_mFnXJk GoHenry Young Enterprise UK MyBnk RedSTART Educate FT FLIC | Financial Literacy & Inclusion Campaign The Money Charity Campaign for Learning The Just Finance Foundation Robin Walker Carol Knight Jane Goodland Tammie Tang Marcel Lukas, PhD LSEG (London Stock Exchange Group) Association of British Insurers Aviva Columbia Threadneedle Investments EMEA APAC Franklin Templeton Janus Henderson Investors Liontrust Asset Management PLC Newton Investment Management Quilter St. James’s Place TISA UK

Member of The Centre for Financial Capability GoHenry has just published important research revealing that children and young people are overwhelmingly in favour of receiving more financial education at school: 🏫 𝟖𝟒% 𝐨𝐟 𝐤𝐢𝐝𝐬 𝐚𝐧𝐝 𝐭𝐞𝐞𝐧𝐬 would like to have more financial education in school. 📖 𝟖𝟒% 𝐨𝐟 𝐲𝐨𝐮𝐧𝐠 𝐩𝐞𝐨𝐩𝐥𝐞 say that financial education is equally or more important than core subjects like Maths, English, and Science. 💳 𝟒𝟐% 𝐨𝐟 𝐩𝐫𝐢𝐦𝐚𝐫𝐲 𝐬𝐜𝐡𝐨𝐨𝐥 𝐤𝐢𝐝𝐬 are worried about leaving school without sufficient financial education. As the Education Select Committee prepares to set out its recommendations for how financial education can be strengthened throughout primary, secondary and further education, it is vital that they consider the clear demand and need for children and young people across the UK to receive high-quality financial education. It's great to see GoHenry producing such insightful research and amplifying the voices of children seeking the opportunity to improve their financial capability. The Centre looks forward to continuing our work with GoHenry and all our members in the mission to ensure all children and young people receive effective financial education.

Today marked a significant milestone in our journey towards making financial education compulsory in all schools from primary age, as we handed in our #makemoneycount petition to No 10 Downing Street 📜✊ Achieving over 12,500 signatures was no mean feat and although we would have loved to reach the 100k mark, the support from each of you who signed, shared, and rallied behind our cause has been nothing short of inspiring. Together, we've shown the power of collective action and the impact it can have on shaping a better future for all. A special thanks Peter Komolafe DipFA, CII MP, Olamide Majekodunmi and Abigail Foster, ACA who accompanied our co-founder and CEO Louise Hill this afternoon to hand over the petition. This isn’t the end though. As we eagerly await the results of the Education Select Committee’s inquiry into strengthening financial education in schools, we have plenty more plans up our sleeve to drive positive change and make a real difference to the financial education of generations to come. Onwards and upwards! 🚀 Young Enterprise UK MyBnk The Centre for Financial Capability RedSTART Educate Darren Collins MLIBF DipFA, MBA Davinia Tomlinson Ryan Briggs Thomas Monaghan Laura Moore Bobby Seagull