Young Adults’ Financial Capability
A look at the impact of Professor Tina Harrison's research into "Emerging Adults' Financial Capability: A Financial Socialization Perspective".
The research had four main impacts:
- It has influenced the direction of the UK-wide Financial Capability Strategy, owned by the Money and Pension Service, in relation to young adults.
- It has led Young Enterprise to develop and test financial education training for teachers of post-16 school leavers in 120 school in England as a means of improving the quality of financial education.
- It has led to an improvement in post-16 school leavers' abilities to manage money, with 54% of those taught by trained teachers starting to save, compared to a national benchmark of 37%.
- It has led the Money and Pension Service to commission a pathfinder project (in collaboration with the Welsh Government) to test and develop a sustainable approach for teacher professional development in financial education.