Financial capability

We know that our clients recognise the importance of high quality research in developing effective financial education. We can tailor our research in this area to meet our clients’ specific needs, whether this involves designing a new programme of research specifically for a client, or working with research ideas that a client has already developed.

Financial capability research conducted at the NFER includes:

• Evaluations of educational initiatives
• Surveys, interviews and reports about financial literacy education programmes and materials
• Literature reviews regarding adult basic skills, including financial skills competency
• An investigation of how a specific topic (economic and monetary union) is taught
• Investigations to identify opportunities for covering financial literacy in the primary and secondary school curriculum
• Exploration of opportunities to incorporate financial literacy into initial teacher training programmes
• Development of a ‘good practice’ guide into assessing business enterprise capability.

Clients for whom we have carried out research and development in financial education include:

• The Financial Services Authority
• pfeg (Personal Finance Education Group)
• a major high street bank 
• the Department for Education
• the Basic Skills Agency.

Examples of key findings from NFER research studies include that:

• Schools continue to want support in teaching financial literacy
• Materials produced for schools are more successful when linked with additional support from the providing organisation, e.g. workshops for teachers and visits to schools
• Good financial literacy programmes and materials for adults with poor basic skills can both improve skills and increase self-confidence
• Programmes for adults work best when tailored to the needs of local communities and individual learners
• For adult learners with basic skills needs, a modular approach is most effective, using short, informal  sessions underpinned by  appropriate materials
• Trainee teachers need support in learning how to identify progression in financial literacy learning.

For more information or to discuss a potential research project, contact Sarah Maughan.