Abstract copyright UK Data Service and data collection copyright owner.The Financial Capability Survey is a nationally representative survey of UK residents, commissioned initially in 2005 by the Financial Services Authority and then from 2015 onwards by the Money and Pensions Service (formerly the Money Advice Service), to support the development and delivery of the Financial Capability Strategy for the UK.
The Children and Young People's Financial Capability Survey, 2019 is a nationally representative study of the financial knowledge, attitudes, mindsets and behaviours of 7-17 year olds and their parents, living in the UK. A total of 3,745 children and young people and their parents were interviewed as part of this research.Children were asked about: how they get, save and spend money; their attitude to spending, saving and debt; their confidence and understanding about money; and how they recall receiving financial education. Their parents were asked about: their own attitudes and behaviours with money; their attitudes and approaches towards parenting relevant to money; and their view on their child's skills, abilities, attitudes and behaviours with money. The reports published so far from the 2019 survey can be found on the Money and Pensions Service Research webpage (Short Reports) and on the Money Advice Service Contributing Analysis Reports webpage. The 2019 survey updates and builds on the previous 2016 Children and Young People's Financial Capability Survey (not currently held at the UK Data Service) and provides robust measures of children and young people's financial capability across the UK, including separate analysis for each devolved nation. (Reports from the 2016 survey are also available at the web link above.)
Main Topics:
The survey includes questions around four topics:a. Financially capable behaviours: these are the behaviours that children and young people exhibit or the actions they take. Based on previous analysis, focus is on two key financially capable behaviours: Day to day money management and active saving.b. Financial enablers and inhibitors: these are the things that make financially capable behaviours either easier or more difficult for children and young people to achieve: Connection, e.g. having responsibility for money Mindset, e.g. having a saving mindset and shopping around Ability, e.g. skills and knowledge c. Some external factors, which are also important drivers of financially capable behaviours Financial means, i.e. receiving money, receiving it regularly, how much do they get. Parental influences , i.e. parent sets rules around money d. Demographics and other characteristics: both child and household characteristics including children's social-emotional, cognitive or behavioural skills.
Quota sample
Self-administered questionnaire: Web-based (CAWI)
Face-to-face interview: Computer-assisted (CAPI/CAMI)
