Findings from the Research

This section formed the introduction to the original set of 14 case studies, published online by the Scottish Government in September 2009.

Sharing a wealth of experience: Scottish models of financial learning for adults

Background

In March 2007, Learning Connections, part of the Scottish Government's Lifelong Learning Directorate, took a 'snap-shot' of financial education projects happening with adults and young people across Scotland.

111 organisations responded to an electronic survey which aimed to gather a brief description of each project, focusing on structure, target groups, learning content, delivery and partnership working.

The Scottish Government's Learning Connections and Financial Inclusion teams analysed the survey's findings and identified these 14 case studies to illustrate the range of work taking place.

What is financial learning?

Financial learning is about supporting adults to develop the skills, knowledge and understanding they need to be able to manage their money effectively. Other terms that might cover financial learning activities include financial capability, financial education, financial literacy or financial awareness.

In these case studies, the term 'financial learning' refers to learning activities that take place to varying degrees of formality in a variety of settings.

For learners the outcomes of financial learning can include increased:

• ability to budget, save and pay bills
• understanding of credit, debt, interest rates and APRs
• awareness of advice and guidance available
• awareness of welfare benefits and maximising your income
• understanding of consumer rights and
• knowledge of how banks and other financial products and services work

Financial learning plays an important role across UK-wide social inclusion agendas. In November 2008, the Scottish Government published Achieving Our Potential, its framework to tackle poverty and income inequality, which recognises the importance of developing individuals' financial capability.

Financial learning often involves the development of the literacy and numeracy skills which underpin everyday financial activities, such as reading and understanding written and numerical information and filling in forms. Many of the individuals and groups for whom financial learning can have a significant impact may also be those in need of literacy and numeracy support. At the same time, money provides a context which is relevant to adults' lives: and approaches to adult literacies in Scotland acknowledge that people are likely to learn more effectively if that learning is relevant and rooted in real, everyday contexts.

Financial learning can have an important role in the development of communities too. The projects featured in these case studies adopt many of the principles of community learning and development work, which seeks to empower individuals and groups and to promote participation, inclusion and equal opportunities for those individuals and groups. They also demonstrate the role of effective partnership working in achieving significant positive outcomes for individuals and groups, and in particular, those who are at points of transition in their life (for example: starting or leaving work; having children; coming into the country as a migrant worker; going into or leaving prison; or being made redundant).

What are the case studies?

The case studies provide models of effective practice in the delivery of financial learning to adults. Each one considers:

• why the project was developed in the first place
• what particular financial learning topics and issues the project deals with (the learning content)
• how the project works in practice (for example, the skills and expertise of the staff; how learners are recruited; what resources are used; and how it is funded)
• what difference the project has made for people taking part, and
• what lessons have been learned that other initiatives might wish to draw upon.

They offer a flavour, rather than a comprehensive picture, of financial learning for adults in Scotland. They do not seek to provide a set of rules for developing and delivering financial learning; instead they offer details of how financial learning projects have worked in particular contexts, with different groups.

Who are they for?

The case studies are for:

• tutors or workers who deliver learning to adults in a range of contexts
• workers involved in developing and co-ordinating learning for young people and adults and
• policy makers.

What difference have these financial learning projects made?

A number of positive outcomes for learners are evident in each of the case studies, including increased:

• confidence, motivation and a sense of capacity to deal with financial issues;
• understanding of how to access financial products and services, including credit options, such as bank accounts, pensions, and credit unions
• awareness of the cheapest ways to access different goods and services, eg fuel shopping, transport, and leisure facilities
• understanding of the value of money and knowledge of financial concepts which may have previously been alien to them e.g. saving or budgeting
• awareness of the range of welfare benefits they may be entitled to and how they can access these
• understanding of the dangers, implications and potential impact of different types of debt
• awareness of where to go to get advice and guidance with financial issues
• awareness of the costs involved in a range of different activities such as starting work, bringing up children, maintaining a tenancy or maintaining a healthy diet
• ability to work as part of a group and to present their views and opinions to others and
• awareness of other learning opportunities that they might wish to access.

What makes a successful financial learning project?

There is no one rule for success. Different approaches work in different contexts, in different geographical areas, with different learners. However, the case studies suggest that anyone developing a financial learning project should bear in the mind the following:

A partnership approach

• Working with partner organisations appears to be a way to ensure that learners have access to all the support and guidance, backed up by appropriate experience, that they need. For example, a literacy or numeracy tutor's skills might be complemented by those of a CAB worker or a representative from a local credit union. This way learners are receiving expert support - as well as contact with a person who they might, in the future, turn to for help.

Engaging learners

• Delivering financial learning sessions to existing groups is an effective way to reach people (these might be groups of adult learners, mother and toddler groups, people brought together by shared community interests, or members of black or minority ethnic communities, for example). People are more likely to put themselves forward to take part in financial learning activities if provided through an organisation, group or service they are already involved with. In addition, where groups of people know each other they are more likely to trust each other and to take part in open discussion. It is important to recognise the work already done by these other organisations to engage individuals.
• Relationships with organisations can also provide opportunities for referrals.
• Often, learners are most motivated to learn when they were at a transition point in their lives: for example, migrant workers who were settling into life in Scotland; offenders who were about to be released; or young people who were seeking employment.
• Involve learners in designing the content of their course, to ensure the content and activities are going to be relevant for them.

Learning activities

• Activities should be delivered in an environment where learners feel comfortable, and which is convenient and accessible.
• Group work encourages participants to share knowledge and experience. It can offer reassurance that others have similar concerns and difficulties. The group shouldn't be so large that learners feel anxious speaking out.
• Learners should have the opportunity to ask questions about things they are particularly interested in (or anxious about).
• Whilst accreditation will not be suitable for all projects or learners it can help to boost a learner's confidence and self-esteem and can encourage them to access further learning in the future.

Materials

• Tutors should develop and adapt materials so that they are appropriate for the learners and relevant to their situations.
• Materials need to be useful, interesting, interactive and visually attractive.
• Where projects are engaging with people whose first language isn't English, it's important that information is provided in the appropriate language(s). This may involve having an interpreter attend the project sessions, and providing printed materials in a range of languages.

Progression and support

• Participation in financial learning activities can inspire and motivate people to take part in further learning. Providers should be aware of this potential and be ready to support learners to progress to other learning activities.
• During financial learning sessions, learners might identify that they have some financial difficulties that they need further support with. Organisations delivering financial learning projects should be able to signpost or refer learners to the appropriate debt or consumer advice services.