Credit, collections & insolvency news
A new report released UK Finance has set out the financial services industry’s impact and recommendations for boosting financial literacy in the UK for children and young people. Although financial education is increasingly recognised as a fundamental life skill, there is limited public funding for it. Financial services are the biggest funder of financial education…
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Young people (16-27) are facing more financial hurdles than previous generations, despite much of Generation Z being the first to benefit from financial education being added to the national curriculum ten years ago, according to a new report released by Yorkshire Building Society. The report found that young people are facing acute pressures meaning over…
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More than two-thirds of students regularly use financial products and services, but levels of financial literacy remain too low to ensure they can all avoid financial risks while benefiting from available opportunities, according to a new OECD report. The OECD says that the Government should seek to boost young people’s financial literacy, enabling them to…
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Three-quarters of people feel their financial education was inadequate or non-existent, impacting their ability to navigate the cost-of-living crisis. A study commissioned by Santander found that 69% of people feel they have struggled to cope with the current cost-of-living crisis due to a lack of financial education at school. Just 26% of young adults aged…
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More than a quarter (27%) of consumers think they could be losing money due to lack of, or insufficient, understanding of financial terminology, according to recent research from Aviva. The insurer also found that women (30%) are more likely to think financial lingo could be losing them money than men (23%). To understand the saving…
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Nearly half of consumers(44%) want urgent help in managing their own money, according to a new opinion poll highlighting the dire state of the personal finances of millions of people. The findings come from a poll by Opinium of 4,000 people commissioned by the leading think-tank, the Centre for Social Justice (CSJ), and credit management company…
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Consumers are failing to measure up when it comes to understanding their finances, according to a survey of 24,000 European consumers by credit management group Intrum. While 58 per cent say they want to ensure they are in a stronger financial position before another global crisis, more than a quarter have less visibility of their…
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