UEL takes part in Financial Capability Week!

The week runs from 14th – 20th November and is organised under the umbrella of the Financial Capability Strategy for the UK and coordinated by the government-backed Money Advice Service. Over the course of the week, numerous organisations including UEL will be involved in spreading the word about financial capability. ​

Did you know the following key facts on financial capability in the UK? (taken from Financial Capability website www.fincap.org.uk)

  • 12 million aren’t saving enough for their retirement
  • 27 million don’t have a sufficient savings buffer to allow them to cope with a significant income shock
  • 19 million don’t have an approach to budgeting that they feel works and cannot keep up with their bills and commitments without difficulty
  • Approximately 8 million have problems with debt
  • Only 1 in 6 are seeking help with managing their debts
  • 4 in 10 adults have less than £500 savings to cover an unexpected bill.
  • Around a quarter of UK adults normally use a credit card or high-cost short-term credit

​The Money Charity has launched the Student Moneymanual 2016/17​ edition. It contains all the latest student finance and budgeting information along with tips and advice to help students make the most of their money and manage it effectively whilst at university. ​

During Financial Capability Week, the Student Money Advice and Rights Team (SMART) will be offering drop-in and appointment advice sessions for students who would like to discuss their current financial circumstance. Additionally, for extra financial support, the SMART Hardship and Progression Funds 2016/17 are now open for student applications.

For further information on SMART advice sessions or applying for financial support through SMART funds, please visit the SMART intranet pages by clicking here​. Alternatively, SMART can be contacted via The Hubs (Docklands & Stratford) or by calling 020 8223 4444.

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