Delivering financial wellbeing for children and young people in vulnerable circumstances

The guides aim to help local authorities and other children’s services staff, working with children and young people in vulnerable circumstances, embed opportunities for learning about money into the support they provide. These children and young people can include for example, care-experienced young people, young people with mental or physical health needs, young people at risk of homelessness, young carers, and many others.

Research shows that these children and young people may be at risk of having low levels of financial wellbeing and may need targeted financial education and guidance due to their circumstances. Professionals working with these children and young people on a day-to-day basis are, therefore, well-placed to help them develop the knowledge, skills and attitudes needed to make the most of their money now and into adulthood.

The guides and toolkit have been informed by consultation with leaders of children and young people’s services, practitioners who work with children and young people in vulnerable circumstances and organisations that represent the voices of children and young people.

There are four guides in total and these constitute guidance for leaders and decision-makers of children and young people’s services in England, Scotland, Wales and Northern Ireland. The guides set out how financial wellbeing aligns with their wider duties and priorities for children and young people.

MaPS has also developed a toolkit for practitioners across the UK, with tips on good practice and signposting to resources and services that can support them to talk to children and young people about money, deliver informal financial education and support access to money guidance.