Hi, I’m Sarah. I recently graduated from the MSc in Philanthropy, Grantmaking and Social Investment at Bayes.

I spent nearly a decade working in the financial services industry as a consultant, where I predominantly focused on topics such as ESG and diversity, equity and inclusion (DEI). and I am motivated by the desire to have a positive social impact over the course of my career, so after some research I discovered the Philanthropy, Grantmaking and Social Investment master’s programme. The course is a unique programme, with a community of leaders in their respective areas, and a focus on real life, real practice and real situations for impacting positive change. It was an easy decision for me to take this next step to further my career!

My dissertation

During my time at Bayes, I was fortunate to work with The London Foundation for Banking & Finance, where I am now in-post as the charity’s Director of Research, for my dissertation. We assessed levels of financial literacy across the UK. Within this we assessed the groups or demographics of people who are more likely to face challenges with financial literacy than others, and the most effective ways to deliver financial education.

Financial decisions are more complex than ever, with the proliferation of new financial products such as “buy now, pay later” schemes and crypto assets, and technology making these products accessible often with one click. These decisions are set in a context where individuals are more responsible for their finances than ever before.

Financial literacy is vital for individual life chances, the health of the UK economy, and the wider functioning of democratic societies. However, financial literacy remains low in studies year on year.

During my research, it was clear that there are a huge number of organisations trying to tackle financial illiteracy – and that is to be applauded – but all this effort, some of which has been in place for over a decade, is not moving the dial quickly enough.

The Research Report: Accelerating Progress: Financial Capability in the UK – 2025

Following our initial research into this area, we produced a research report which makes several key practical recommendations on how progress could be accelerated – and we are welcoming input from others on how, by working shoulder to shoulder, we can achieve real change.

What distinguishes this research report is that not only have we consolidated and analysed the existing research on levels of financial literacy in the UK, and the groups most likely to be affected, but we’ve also looked at what solutions are available, to create the beginnings of a ‘map’ of the sector and make recommendations on potential ways forward.

I’m really pleased to see that it has had a practical impact, informing both The London Foundation for Banking & Finance’s strategy and that of other practitioners, as we have published this research for interested stakeholders.

More research is needed to examine this lack of progress, and to make practical recommendations on ways forward. We hope that this report will support the practitioners working in this space, across the voluntary, private and public sector.

The launch event

To celebrate the launch of this research report we were delighted to host a celebration for this research being published at Bayes Business School on Wednesday 29 January.

Attendees heard from the Chair of LFBF’s Board, Steven Haberman, and LFBF’s Chief Executive, Shelley Doorey-Williams, as well as the research team, me and Professor Paul Palmer. It was great to be sharing insights with interested stakeholders from a wide range of sectors and backgrounds.

If you’d like to find out more about this research you can download the full research report on the London Foundation for Banking & Finance website.