In support of the UK Financial Capability Strategy, the Money Advice Service has launched a new fund of up to £7 million, to help understand more about how to improve financial capability. The fund will be available to organisations to help them pilot new approaches to improving financial capability and evaluate their projects.
The What Works Fund will provide financial support for projects across the UK which are focused on building evidence of the types of interventions that can make a measurable difference to people’s financial capability.
Funding will be available for the evaluation of existing interventions as well as piloting and evaluating new approaches. There will also be funding available to scale up existing programmes which have already demonstrated results to test the effectiveness of the project when reaching a wider group of people.
One of the key questions the Fund wants applicants to explore is what interventions work to help working-age adults to build up a savings buffer to withstand financial shocks and/or set financial goals for key life events?
More information on the Fund and how to apply is available on the Money Advice Service website:
To find out more and apply, you can download the below from the Money Advice Service:
Applications can be made at https://mas.bravosolution.co.uk by 8th July. See the Fund’s Guidance Notes for how to use the online application portal.
Interested organisations can email firstname.lastname@example.org for further information