There are 17.5 million people in financially vulnerable circumstances, one in three adults in the UK. Some of these vulnerabilities can be seen in the form of financial exclusion. In this episode, Ripon Ray discusses: ‘The cost of financial exclusion’. To navigate the Debt Talk podcast topic, panellists were from a financial inclusion funder, a debt crisis and money training social enterprise, and a household debt campaigner.
Diane Burridge, Community Finance Propositions and Segmentation Lead for Fair4AllFinance, develops strategies for financial inclusion projects and provides funds. She focused on supporting innovation to reduce financial exclusion by undertaking research and working with various third organisations to promote ways to make the financial services sector fair.
Jerry During MBE, Co-Founder of Money A and E, a community money and debt advice organisation in London, emphasised the need to form partnerships with community groups and government agencies to help change policy and remove barriers for marginalised communities to access financial services. He argued that lived experience must be at the heart of the decision-making process to address financial exclusion.
Joe Cox, Senior Policy Officer of the Debt Justice campaign group, is part of a global movement to end debt inequality. He focused on the strength of the financial institutions, which are far more influential than vulnerable communities that are excluded from decision-making. He believes grassroots campaigns can bring about positive change for communities in financial difficulties.
Debt Talk podcast panellists also provided helpful TIPS to listeners. The following podcast is on: ‘DRO or IVA? - that is the question'.
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