NPC’s report argues that financial education and greater access to bank accounts and other products are needed to tackle financial exclusion. It highlights charities working to help people manage their money, get out of debt and access affordable financial products.
‘I still find it incredible that in such a prosperous society as ours, so many people are living in poverty as a result of being financially excluded. Some people struggle even to get a bank account, and get by day-to-day living cash in hand. One charity told us about Janet, who used to go for days without food or electricity, living by candlelight, so she could pay back a high-interest loan. This isn’t a Dickens novel. It’s the reality of financial exclusion.'
Esther de Jong, report author