The thought leadership paper, titled ‘The Hidden Inequality – Understanding Financial Education Gaps for Care Leavers in Essex’, can be read here.
Recommendations:
- Local Roundtable: Money Ready, in partnership with Saffron Building Society, will help to convene a cross-sector roundtable, chaired by a local MP, bringing together education, housing, employment, and voluntary sector leaders – alongside care-experienced young people – to develop a coordinated Essex Financial Education and Inclusion Plan.
- Guaranteed Financial Education: Money Ready seeks to partner with Essex County Council (ECC) to embed high-quality, tailored financial education into all care leaver pathways in the region, supported by Saffron Building Society.
- Local Pledge with Care Leavers Covenant: Money Ready and Saffron Building Society propose creating an Essex-wide Care Leaver Financial Resilience Pledge, aligned with the national Care Leavers Covenant, to unite public, private, and voluntary sector organisations behind a shared mission.
The recommendations outlined are expected to bring positive differences to the county’s care leavers, 40% of whom are not in education, employment, or training, and only 20% of whom live independently, with 10% in unsuitable accommodation. This has been a worsening trend since 2020.
Through our partnership with Saffron Building Society, we’ve seen how practical, evidence-based financial education can transform lives. When young people understand and feel in control of their money, they gain more than skills – they gain confidence, independence, and hope.
By embedding this support within local systems and working collaboratively across sectors, we can ensure every care-experienced young person has the tools to thrive, not only in Essex but across the UK.
The full paper can be found here or you can download our one pager with key points here.