Columbia Threadneedle Foundation partners with The Centre for Financial Capability to support children and young people experiencing socioeconomic hardship with financial education.
Columbia Threadneedle Foundation is pleased to confirm a grant to The Centre for Financial Capability (TCFC), a charity with a mission to ensure every child in the UK develops the skills and behaviours necessary to navigate critical financial decisions in their life – starting from primary school.
The cost-of-living crisis has highlighted the need for financial education. Local, grass roots charities are working hard to support children and young people and their families during this challenging time through debt advice and education. But they also report they are offering advice without confidence and not having the tools and resources necessary to provide quality financial education.
The grant supports research among small local charities supporting children and young people with socioeconomic hardship. The aim of the research is to understand what works, what is needed, and create practical resources which would be most effective for the 95,000 small charities working with children and young people. It will enable access to financial education for families of young children in need to ensure knowledge and behaviour is embedded as early as possible, supporting long-term education and short-term support for families.
This grant is funded by the CT UK Social Bond Fund, which contributes a share of its annual management fee to Columbia Threadneedle Foundation. The Fund seeks to deliver financial returns to investors through a portfolio of corporate bonds, while also contributing to positive social outcomes. The portfolio aligns to a number of themes, including community services, aimed at providing charities with increased access to facilities and services to improve individual and local well-being, and employment and training which helps young people develop skills.
Laura Cook, Chair of the Columbia Threadneedle Foundation said: “We’re very pleased to be funding this vital research, which contributes to the Foundation’s aim of improving individual lives while also driving fundamental social change.
“We have been a long-term supporter of The Centre for Financial Capability and have seen first-hand the excellent work that they do. This grant will allow them to extend that reach further to improve financial education throughout the UK.”
Stewart Perry, Director of The Centre for Financial Capability said: “The generous grant from the Columbia Threadneedle Foundation enables us to work with small local charities in the UK – the frontline of the current cost of living crisis – to identify the tools and resources they need to deliver high quality financial education for young people and their families.
“Columbia Threadneedle have been there with us from the very beginning. We are incredibly grateful to have a long-term partner that shares our vison to ensure every young person in the UK receives effective financial education.”
