A Research Study Conducted by MORI
for the Basic Skills Agency
MORI conducted face-to-face interviews with a demographically
representative sample of 2089 adults, in their homes. They
were asked to complete ten basic skills tasks which were
the kind of things customers would do when using financial
institutions. The tasks corresponded to core curriculum
levels between Entry Level 1 and Level 2.
- 62% of those who completed 0-6 tasks had a current account,
compared with 93% of those who completed all 10.
- 34% of those who completed 0-6 tasks had a savings account,
compared with 60% of those who completed all 10.
- 9% of those who completed 0-6 tasks had a mortgage or
house purchase loan, compared with 42% of those who completed
all 10.
- 55% of those who completed 0-6 tasks were in social
groups D or E, compared with 22% of those who completed
all 10.
This research shows the links between poor basic skills,
financial exclusion and social disadvantage. People with
poor basic skills do use financial products such as bank
accounts, and therefore may need appropriate help from financial
institutions in order to make the most of those products.
Those with poor basic skills are also more likely to be
socially disadvantaged, although it is not possible to tell
whether social disadvantage and poor basic skills are a
cause or effect of financial exclusion.
For more information on financial exclusion and to download
the report in full, visit www.money-bsa.org.uk
MORI for the Basic Skills Agency (2001). Basic Skills and
Financial Exclusion. London: the Basic Skills Agency.
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