In 2008 NIACE commissioned the Social Market Foundation to examine the recent work by government, the Financial Service Authority and the private and Third sectors on financial capability. It finds that most current initiatives focus on providing information and advice to the consumer about their financial choices, rather than taking a more holistic approach. Such an alternative approach might seek, for example, to enable citizens to become better at making positive educational choices; to assist them in navigating the job market; and to encourage them to engage in entrepreneurial activity or become full and active citizens in a market society in other ways. The paper also reviews the debate on education and financial capability, looking at how financial education is provided and at when in the life course it is most effective.
