ClearScore, a financial marketplace platform, in partnership with The Money Charity, a financial capability charity, are undertaking a year-long study which aims to understand the impact of financial education on financial wellbeing.
The study, conducted through the ClearScore app with around 5,000 ClearScore users, is funded by the Aviva Foundation.
ClearScore users in the study will be presented with different types of financial education and then monitored against a control group to identify any improvements in their financial capability, credit score, wider credit worthiness, and ultimately their financial resilience and wellbeing.
The study has the potential to measure the impact of financial education, not just on an individual’s financial behaviour, but ultimately on access to credit and potentially even wider financial inclusion.