Transcript Financial Capability in Scotland

Financial Capability in
Scotland
Allison Barnes
The Money Advice Service
Background
What is financial capability?


Baseline Survey- FSA, 2005

Making ends meet
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Keeping track of your finances
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Planning ahead
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Choosing financial products
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Staying informed about financial matters
Results have guided future work
Links with legal capability
Being able to manage your money affects you in all
aspects of your life
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Tenancy – understanding your rights but also understanding the
financial aspects
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Debt and potential implications i.e. bankruptcy
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And many more
Developing Policy

Scottish Financial Capability & Inclusion Advisory Group
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The Scottish Government and the Money Advice Service – working in
partnership

Financial Capability Discussion Paper & Evidence Review

Shift to early intervention & prevention
National and Local Coordination
New national
issues/initiatives
Influence UK
agenda
Scottish policy and co-ordination
National
Financial
Education
Forum
SG/Money
Adv Serv
Partnership
FC &I
Advisory
Group
Secretariat
Financial
Learning Online
– a central
source for
policy info,
evidence,
current practice
and resources
Local co-ordination and delivery
Local
CPPs – local
planning and coordinaton
Practitioners and networks e.g. Tackling Poverty
Officers Group & FI Officers Network, Tackling
Poverty and Area Regeneration Network,
Moneyguides/CABx
Where we are now
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
Stakeholder event
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Supporting practitioners
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Networking
FLO (Financial Learning Online) website


Single point of call
Link to policy - early intervention & prevention
All helping to increase awareness
Where we are going
There is a lot more to do
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Future events planned
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Continued support for practitioners
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Build on infrastructure and delivery mechanisms

Opportunities