2017 Savings and Debt Summit

University of Birmingham
Wednesday 15th November 2017 (11:00-15:00)
Download the date to your calendar (.ics file)

Expressions of interest to Helen Harris h.m.a.harris@bham.ac.uk

Savings and Debt Challenges and Opportunities: drawing on the lived experience of low income savers 

Event hosted by CHASM and jointly run with the Financial Health Exchange (Toynbee Hall)

This Summit, following on from our successful Savings Summit in May 2016, will look at developing further the themes explored there, including:

  • failures of the market to recognise and support existing savings behaviour;
  • the challenges of developing savings when on lower income;
  • how a user-led approach might influence savings product design to maximise the benefit of every £1 saved;
  • considering the suitability and usefulness of creative solutions to support savings offered in the market at present (including innovations in FinTech and savings apps).

This event will however, also look to bring into the discussion the important issue of debt management in the context of financial resilience, exploring issues including:

  • what are current best practices in debt management; and
  • developing financial capability when in debt (in the context of the Standard Financial Statement). 

A key aim of the event is to bring together both sides of the financial well-being equation which for those on lower incomes can prove a difficult balance to strike in practice. 

The event will also address :

  • working age savings – the need versus the reality
  • savings and external encouragement: good versus bad ‘nudge’
  • savings visible and invisible (the role of informal savings)

The event will be led by four speakers addressing four key areas of debate in the field of savings and debt management. Each speaker will speak for around 10 minutes providing context to each of the four areas for discussion. Between each speaker will be an opportunity to engage in roundtable discussions exploring each of the subjects further and to enable sharing of expertise and advice between the delegates attending. As all will be experts in different aspects of these fields we hope that this will lead to stimulating debate and thoughtful outcomes. The outcomes of these discussions will be captured in a report and series of blogs the CHASM and Financial Health Exchange team will draft and share widely after the event.

The speakers include:

  • Sonia Fernandes – Money Advice Service
  • Benedetta Arese Lucin - Oval Money
  • Carl Packman – Toynbee Hall
  • Andy Lymer – CHASM

Who should attend? – anyone interested in policy and practice issues in savings and debt management for those on lower incomes.

This event will build on the CHASM ’Savings for all – A manifesto for an inclusive savings agenda’ report published in January 2017 and a report addressing related themes produced by the Financial Health Exchange/Toynbee Hall entitled ‘Savings for the Future: Solving the savings puzzle for low income households. 

A briefing paper created for the previous Savings Summit outlining the issues discussed there can also still be accessed.

Invitations to the event will be available shortly or please indicate expressions of interest in attending to Helen Harris h.m.a.harris@bham.ac.uk.



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