Funding for Projects to Improve Financial Wellbeing for Low-Income People Across the UK

Charities, voluntary groups, think tanks, research bodies, and universities can apply for funding for projects that have the potential to improve financial wellbeing on a national scale, including strategic work, policy work, campaigning and research.

Abrdn Financial Fairness Trust, formerly known as the Standard Life Foundation, is offering grants between £10,000 and £200,000 for projects and activities that address specific inequalities, differences, and vulnerabilities to improve financial wellbeing, reduce the cost of living, and address issues related to spending and borrowing among low- and middle-income people across the United Kingdom. 

The Trust’s grant programme is focused on three areas that influence financial wellbeing:

• Income:
  • Wages. 
  • Social security. 
  • Pensions.
  • Taxation. 
• Spending:
  • Cost of living. 
  • Consumer spending. 
  • Problem gambling. 
  • Borrowing. 
  • Payment problems. 
• Assets:
  • General saving. 
  • Retirement saving. 
  • Housing. 
  • Taxation.  

Projects should aim to create a step-change in policy, practice, attitudes, or behaviour, including:

• Policy work.
• Campaigning.
• Research.
• Public attitudinal work.
• Improving practice and design.
• Evaluations of existing initiatives that have not been evaluated.

Funding can be used for project costs and ongoing costs, including staff salaries and overheads. 

The Trust makes between 15 and 20 grants each year, awarding a total of over £2 million. Most funded projects will benefit residents from across the UK, but the Trust is especially keen to support work in Scotland, including UK-wide work that has a Scottish dimension to it. Priority will be given to organisations working with young people.

The next deadline for applications is 3 June 2022 (13:00). 

(This report was the subject of a GRANTfinder Newsflash.)