Financial education in the spotlight for Credit Awareness Week

The annual campaign is now in its eighth year, and this week, 26th February 2024, Credit Awareness Week aims to educate people and businesses about how to manage their finances as well as improve their understanding of how the finance and credit industry works. Since its original launch in 2017, the campaign has reached millions of consumers in the UK.

Jose Luiz Rossi, managing director of Experian UK&I said, ‘We always need to encourage people to talk about finances and credit more because most people will progress through their life using some form of credit. Whether it is to pay for studying, for housing, or a car – credit is used for financing life’s big moments that improve a person’s well-being.’

You can read more about from Mr Rossi in his exclusive interview with Credit Strategy here.

The two companies also collaborated on a YouGov Survey to asses the financial needs of the nation.

The research was commissioned to gather some insights from British businesses and found that:

·      Nearly 60% admit they could be doing more to educate consumers on how to manage their finances.

·      74% are worried about financial security and fraud with three quarters agreeing protection from financial crime was a priority for their business.

·      59% are considering or committing investment to helping those with support needs communicate with their business.

Find out more from the YouGov data here.

Also planned for the week is a series of articles to help educate the community and in the first of these, Experian’s Paul Spears takes stock of the last 12 months and considers how those working in the financial services and lending space can improve service in the future, which you can read here.