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Financial Capability in Scotland

Financial Capability in Scotland. Allison Barnes The Money Advice Service. What is financial capability? Baseline Survey- FSA, 2005 Making ends meet Keeping track of your finances Planning ahead Choosing financial products Staying informed about financial matters

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Financial Capability in Scotland

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  1. Financial Capability in Scotland Allison Barnes The Money Advice Service

  2. What is financial capability? Baseline Survey- FSA, 2005 Making ends meet Keeping track of your finances Planning ahead Choosing financial products Staying informed about financial matters Results have guided future work Background

  3. Being able to manage your money affects you in all aspects of your life Tenancy – understanding your rights but also understanding the financial aspects Debt and potential implications i.e. bankruptcy And many more Links with legal capability

  4. Scottish Financial Capability & Inclusion Advisory Group The Scottish Government and the Money Advice Service – working in partnership Financial Capability Discussion Paper & Evidence Review Shift to early intervention & prevention Developing Policy

  5. National and Local Coordination New national issues/initiatives Influence UK agenda Secretariat Financial Learning Online – a central source for policy info, evidence, current practice and resources Scottish policy and co-ordination SG/Money Adv Serv Partnership FC &I Advisory Group National Financial Education Forum Local co-ordination and delivery Practitioners and networks e.g. Tackling Poverty Officers Group & FI Officers Network, Tackling Poverty and Area Regeneration Network, Moneyguides/CABx Local CPPs – local planning and co-ordinaton

  6. Stakeholder event Supporting practitioners Networking FLO (Financial Learning Online) website Single point of call Link to policy - early intervention & prevention All helping to increase awareness Where we are now

  7. There is a lot more to do Future events planned Continued support for practitioners Build on infrastructure and delivery mechanisms Opportunities Where we are going

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