Policy and Research - The Money Charity

Policy and
Research

Why Do We Conduct Policy & Research Work?

Our Policy & Research work supports our mission to help people of all ages stay on top of their money. It keeps the profile of Financial Education and Financial Wellbeing high on agenda, influencing policymakers, regulators and key decision-makers.

We focus our Policy work in these key areas:

We believe everyone should have the opportunity to develop the skills to manage their money and ultimately become secure and confident when thinking about their finances in the present and long term. Financial Wellbeing & Capability are therefore central to everything we do.
Support should be available throughout people’s lives as their needs change, and it should be delivered effectively.
It is crucial that people begin to develop these skills from an early age, which is why Financial Education for children and young people continues to be one of our key policy focuses. The inclusion of Financial Education on the national curriculum at secondary in England has not been a success, with only 47% of young people saying they have received financial education in school or at home. We were pleased to see the recent Curriculum Review recommending that financial education be added on the primary curriculum and strengthened on the secondary. However we are keen to ensure that lessons are learned and that this time more thought, support and funding is given to its implementation.
We were delighted to see the recent publication of the Government’s Financial Inclusion Strategy and the announcement of £15 million of dormant assets ringfenced for financial education and capability as part of that. Our Chief Executive, Michelle Highman, has been pleased to sit on the Financial Inclusion Committee advising the Government.
Robust Financial Regulation is also vital, by ensuring fairness and transparency in financial markets and enabling consumers to make informed decisions about money. It also supports Financial Inclusion by protecting access to cash, in-person banking services, and ensuring financial products remain accessible.

From the school curriculum to pensions, savings, credit or debt, we regularly engage with Government, regulators and other organisations through Consultation Responses. Our focus is to ensure policies help people manage their money, avoid financial difficulty, and access support when needed. We also produce The Money Statistics, a monthly report with latest statistics on debt, personal finance and more. Widely used by regulators, trade associations, the media and the third sector, it provides an objective overview of the UK’s financial landscape.

We continue to develop our Policy & Research work across these areas to highlight the importance of staying on top of your money. To find out more, please contact us.

Our Policy Views

As the UK’s Financial Capability charity, our principles shape all our work. Our views below help us to develop policy to inform government decisions in our focus areas.

To give you a better idea of what the charity believes in, we have adopted a set of high-level policy lines on:

Financial Wellbeing and Capability

Our principles

Everyone has the capability to be on top of their money as a part of everyday life.
Being on top of your money means you are more in control of your life, your finances and your debts, reducing stress and hardship.
Being on top of your money increases your wellbeing and helps you achieve your goals and live a happier, more positive life as a result.
Financial Wellbeing & Capability are therefore essential life skills.
People with good Financial Wellbeing & Capability are on top of, and make the most of, their money, in these 5 key areas: Planning (including budgeting), Saving, Debt, Financial services products, Everyday money (including wages, cash, bank accounts)

Financial Education

Our principles

Everyone should have the opportunity to develop the key life skills to become Financially Capable and have good Financial Wellbeing.
Helping young people to develop these skills should start as early as possible, with Financial Education taught as part of the national curriculum.
Parents should be supported and encouraged to have conversations about money in the home with their children.

Financial Inclusion

Our principles

Everyone should have access to basic financial products, necessary for participation in modern life.
Access to affordable credit & insurance is essential for everyone.
But they shouldn’t be penalised for how they are able to pay or receive information, where they live, or any medical and mental health conditions they may have.
The government should support Financial Inclusion, but also help those people who remain excluded by circumstance.

Financial Regulation

Our principles

Financial Regulation needs to be centred on the consumer.
Regulation should prevent harm, not just react to it.
This includes making sure people are only able to borrow what they can afford.
Plus that they’re treated fairly if they get into difficulty.

The Money Charity sits on the Government’s Financial Inclusion Committee, the FCA’s Consumer Forum and is a member of the YFCG (Youth Financial Capability Group). Our presence in these spaces and focus on Financial Regulation as a policy area, alongside areas such as Financial Education which may seem more evidently relevant to the charity’s work, means that we have a good understanding of the financial issues faced by consumers.

Policy Papers

Our Policy & Research work complements our main objective of helping people of all ages to stay on top of their money. It keeps the profile of Financial Education and Financial Wellbeing high on the agenda, influencing policy-makers and regulators.

As an essential part of that, our Policy Papers explore the key issues. You can read or download below: