Creditspring, the subscription-based credit provider is on a mission to improve financial stability across the UK and has partnered with London South Bank Colleges to deliver Managing Money, a financial education programme designed to help young adults build the knowledge and confidence to manage their finances as they move into adulthood.
Through a series of student talks, the programme will cover the everyday financial decisions young people increasingly face as they begin earning. From understanding payslips, budgeting, credit, repayments and where to seek support when money feels difficult to manage.
The partnership responds to a clear gap in financial preparedness. With many young people about to take on greater independence, research from Creditspring suggests that essential borrowing terms and the consequences of missed payments are not always well understood.
Among 18-24-year-olds, fewer than half say they understand APR (45%) or what a minimum repayment means (46%). Just over half (52%) know that missing a loan repayment can damage their credit score, compared with 83% of people aged over 55. More than a third (35%) believe that 0% interest definitely means there are no additional costs.
The findings also point to a reluctance to ask for help early. Only one in five 18-24-year-olds (20%) say they would contact their lender if they were struggling with a repayment, compared with almost half (49%) of those aged over 55.
Financial pressure is not limited to bills and borrowing. The research also found that 91% of Gen Z respondents (14-29 years old) felt social plans put pressure on their finances. To manage those costs, 25% said they had taken on extra work or shifts, 18% had skipped meals and 22% had sold personal belongings.
Managing Money will give students a straightforward grounding in the choices and trade-offs behind these figures, helping them ask better questions, recognise potential costs and build habits that support their financial wellbeing over time.
The programme builds on Creditspring’s wider commitment to financial inclusion and education. Earlier this year, Creditspring’s People & Culture Partner, Linda Murphy-Ericsson, spoke with London South Bank Colleges students at an International Women’s Day event about her career journey, ambition, opportunity, and the value of support and allyship.
Neil Kadagathur, CEO and Founder of Creditspring, said: “Financial confidence should not be something people have to learn through costly mistakes. As young adults begin earning and making decisions independently, understanding the basics of credit, repayments and asking for help can make a real difference to their long-term financial stability.
“Creditspring’s mission is to improve financial stability across the UK. We believe subscription finance can offer a safer, simpler and more affordable way for people to access short-term liquidity when they need it, but access alone is not enough. People also need clear, practical education that helps them understand the decisions in front of them and stay safe as they build their financial future.”
Alicia Maker, Careers Lead at London South Bank Colleges said: “Preparing students for the world of work also means helping them prepare for the financial responsibilities that come with it. The Managing Money programme gives our students practical, accessible information at a point when it can have a lasting impact. We are delighted to work with Creditspring on a programme that puts confidence, informed choices and financial wellbeing first.”
