Featured in this report: Children & young people
The study forms part of MaPS’ work to support progress towards the goal of two million more CYP receiving a meaningful financial education by 2030, set out in the UK Strategy for Financial Wellbeing. The research sought to inform the development and targeting of financial education interventions which better meet the needs of this group and help reduce the financial capability gap.
This research has revealed that there is an appetite amongst 11–18 year olds from low-income households to learn about money. Similarly, their parents consistently expressed a strong belief in the value of financial education for their children, particularly in light of their own financial vulnerability. Parents identified a need for additional support to help them feel more confident delivering financial education to their children at relevant points in their lives, starting from a young age.
Practitioners described low levels of financial literacy amongst CYP from low-income households and seek more support to help the CYP and families they work with.
