Basic financial affairs are still a big pain for many UK adults, sparking calls for financial literacy lessons to become a mainstay in the school curriculum.
Banking group Santander surveyed 2,000 Brits and found that 40% of UK adults do not feel ‘fully confident’ with everyday budgeting and money management.
The survey also revealed that 52% wish numeracy, finances and budgeting was a bigger part of their life at home and school.
Partnership
In a bid to tackle the issue of financial inclusion, Santander has signed a three-year partnership deal with National Numeracy.
The independent charity helps to raise levels of numeracy among adults and children, promoting the importance of everyday maths skills.
The partnership will allow both companies to work together to improve financial inclusion in the UK.
Santander will make a donation of £200,000 ($241,823, €215,848) to help promote the importance of numeracy across the country.
No fast solution
Nathan Bostock, chief executive of Santander UK, said: “We understand that numeracy is a key driver in making better financial decisions, especially when it comes to budgeting, such as ensuring your finances cover the cost of living or when saving for a home.
“Helping people improve their financial confidence is a key ambition of ours and whilst there is no fast solution, we’re delighted to be working with National Numeracy over the next three years as part of our commitment to tackling financial inclusion in the UK.”
