Research by Tina Harrison, Jake Ansell, and Caroline Marchant has addressed the lack of financial education for young adults, and influenced the development of interventions to enhance their financial capability and financial wellbeing.

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.

Contributors

Jake Ansell

Jake Ansell

Professor of Risk Management

Tina Harrison

Tina Harrison

Personal Chair of Financial Services Marketing and Consumption, Head of Marketing