(1). The Single Financial Guidance Body (SFGB), created by the Financial Guidance and Claims Act 2018, now brings together the services of the Money Advice Service, The Pensions Advisory Service, and Pension Wise, under one body. The SFGB is a non-departmental public body, accountable to the Department for Work and Pensions, with a goal to help people make the most of their money and pensions. Prior to the creation of the SFGB, the Money Advice Service undertook a range of activity to promote the financial capability of children and young people, including developing the evidence base and funding and testing approaches to delivery. This research was commissioned as part of this work in 2018/19.
(2). Children and Young People and Financial Capability: Needs Analysis (2018). Ann Griffiths and Shadi Ghezelayagh
(3). Children and Young People and Financial Capability: Needs Analysis (2018). Ann Griffiths and Shadi Ghezelayagh.
(4). Measuring Financial Capability in Children and Young People: What drives financial behaviour? (2018) Tom Clarke and Shadi Ghezelayagh.
(5). ‘Struggling’ – A segment who struggle to keep up with bills and payments and to build any form of savings buffer. They are the least financially resilient and the most likely to be over-indebted. ‘Squeezed’ – A segment with significant financial commitments but relatively little provision for coping with income shocks. See ‘Market Segmentation, An Overview’ MAS (2016).
(6). Children and Young People Financial Capability Deep Dive: Parenting MAS (2018). Dr Gavan Conlon, Viktoriya Peycheva and Wouter Landzaat.