Financial Capability Week

The Scottish Financial Capability Week  is taking place - 13th to 17th November 2017.

Financial capability refers to the ability of individuals to manage their money well on a day-to-day basis, as well as through significant life events and periods of financial difficulty. Levels of financial capability across the UK remain stubbornly low. The 2015 Financial Capability Survey showed that almost half (48%) of people in Scotland struggle every day to keep up with their bills and 66% would be unable to pay an unexpected bill of £300. One in five cannot read a bank statement and four in ten have less than £500 in savings. Young working age adults struggle the most, with 53% finding it difficult to keep up with payments.

These figures indicate a ‘spend today, rather than save for tomorrow’ culture across the UK population.

Debt or suffering from financial difficulties

Low levels of financial capability mean that millions of people across the nation lack the financial resilience to deal with unexpected financial shocks and life events. Therefore, they are at risk of falling into uncontrollable levels of debt or suffering from other financial difficulties.

Here at Stirling Council Advice Services we have a team of Money, Debt & Benefit Advisers who advise clients on generalist debt advice,

  • a senior money, debt and benefit adviser
  • a money, debt and benefit assistant,
  • a money, debt and benefit manager.

The team will advise clients on generalist debt advice and help assist with creditors, as well as advising them on their debt options from informal solutions to formal insolvency debt solutions.

We give generalist advice on budgeting, we also assist people in Stirling who are already claiming or about to claim universal credit with personal budgeting support as they may be transferring from a benefit that was previously paid fortnightly or weekly and universal credit is a monthly payment system.

We have a working relationship with the department of work and pensions where they will refer claimants to us who need extra budgeting support, or money advice.  


We have recently launched Better Off Stirling, which is an online platform that allows people to enter in their details and to do a calculation to work out how much better off they would be if certain circumstances changed, for example they took on more hours at work.  

See also 2 Case Studies.