Charity Digital – Topics – Five charities offering financial education and support

Charities in the UK play a crucial role in supporting people facing financial hardship. A survey by Lloyds Banking Group and its four charitable foundations found that in the past three years 4.3 million people have visited a charity when facing financial challenges. The report shone a light on the vital support that charities are providing – and the quality of that help. Nine in ten people who were helped by charities were satisfied with the help they received while 35% said they felt more financially stable than they had previously, compared to peers who hadn’t visited charities (29%).   

Charities focused on finance 

In 2024, the charity delivered meaningful financial education to over 111,000 children in 400 schools across the UK. Alongside its work with schools, it also provides free financial education resources to better help children with special educational needs, and advocates for policy change at a national level.  

In Guernsey, increasing numbers of local people are finding it hard to open a bank account – often due to debt problems or credit scores. The knock-on effect is that it’s harder to find employment and accommodation. And without a debit card, it’s tough to buy goods and services, as fewer retailers are accepting cash.  

Guernsey Community Savings opened in 2020 to help islanders access essential basic banking services. Since then, it’s helped almost 200 people gain crucial banking access. It also offers budgeting advice sessions, and financial educational programmes for pre-release prisoners at Guernsey Prison.   

Centrepoint: financial training for young people experiencing homelessness  

Centrepoint is the UK’s leading youth homelessness charity, and financial support is just one element of its vital work. For a young person experiencing homelessness, managing finances can be incredibly tough. Benefits systems are complex and difficult to navigate, incomes are often unstable, and necessities take up a high proportion of any income a young person does have.  

The charity offers financial assistance through bursaries and funds, and advice on benefits and debt. Alongside this, it runs Moneywise, a financial literacy training programme. As well as practical training, sessions focus on young people’s emotional responses to financial hardship, which can include shame, frustration, and anger. This helps young people to build the money management skills they need to sustain a job and a home.

Surviving Economic Abuse (SEA): supporting women experiencing financial abuse 

One in seven women in the UK have experienced economic abuse by a current or former partner. In fact, 95% of domestic abuse cases involve economic abuse – including exerting control over income, spending, bank accounts, and borrowing. SEA raises awareness of economic abuse, its impact on those affected, and influences policy-makers and commissioners of domestic violence services.  

The charity also helps survivors directly through its Financial Support Line. Run by Money Advice Plus, the helpline provides specialist advice to anyone experiencing domestic abuse who is in financial difficulty. Their Survivors’ Forum is a safe place for women to share their experience of economic abuse and connect with each other.

The Money Charity: helping people to develop financial capability  

The Money Charity offers training to people of all ages and all stages of life – from primary–aged children to adults planning for retirement. Its training helps people develop financial capability, including the skills and knowledge they need to manage their money well. As well as helping participants to develop practical abilities, it also helps them to understand their attitudes and behaviours around money. 

In 2024, it worked with over 43,000 people including adults in community settings, refugees, young people, and adults in workplaces. To reach those people, it works in collaboration with 400 organisations. And its training has a great impact on participants: after attending workshops 62% said they felt they could manage their money well, compared to 22% at the start of their training.