11 Oct 2022

Financial Literacy Report

Claro Wellbeing finds that millions of people do not have the skills or confidence to manage their money, and that is having a serious impact on their wellbeing

Claro Wellbeing’s survey of 1,000 UK adults reveals that far too many people were not taught about money growing up. Now, it's having a serious impact on their wellbeing and their wallets.

Key findings

15% of adults do not have the basic knowledge to make the most of their money
31% never or rarely save
49% rely on credit cards to increase their monthly budget
Better financial education means more confident, happier and less anxious staff – 38% of respondents said that better financial education would enable them to understand how to improve their financial situation in later life.