Why Debt Advice Foundation is supporting Financial Capability Week

 

When 40% of adults say they are not in control of their finances and a four in ten have less than £500 in savings, it is clear the UK is facing a financial capability crisis which requires a collective response.

 

Financial Capability Week is designed to highlight the work of organisations involved in financial capability and amplify their messages in order to achieve large-scale change. Despite being in its first year, the campaign has the support of hundreds of organisations.

 

To improve financial capability, policy makers and organisations working across a broad range of sectors need to work together to share knowledge and best practice, which why the Government created the Financial Capability Strategy – a common vision for what needs to be achieved, building an understanding of what works. 

 

The Strategy was launched in 2015 and will last for ten years. It aims to improve people’s ability to manage money well, both day to day and through significant life events, and to handle periods of financial difficulty. 

 

Through our money skills programme DebtAware, which works with children aged from 9-13, Debt Advice Foundation is a passionate advocate for improved financial capability from an early age and proud to be part of Financial Capability Week.

 

By joining together under the Financial Capability Week campaign banner we can both shine a spotlight on financial capability, but also celebrate the excellent work currently being done in the sector by a number of charities. 

 

You can find out more about the campaign and the strategy behind it at www.fincap.org.uk and by following @fincapstrategy.