Hargreaves Lansdown works with University of Bristol to launch financial wellbeing

Hargreaves Lansdown is working with University of Bristol to provide financial wellbeing courses for students. The pilot launched on 15 April 2024 and consisted of five custom-built modules delivered to over 70 University of Bristol students through blended learning, webinar and face-to-face mentoring sessions.

The students who choose to enrol on the HL Financial Wellbeing course will get the blueprint for good financial health: how to create a smart spending plan and shop savvy - the tools to make their money work harder and build good money habits that they can take into life after university, setting them on the right financial path. And with increased knowledge typically comes heightened confidence – providing students with the tools to combat financial anxieties.

The content is structured on HL’s 5 to Thrive framework, the five key building blocks for financial resilience. There are five modules which will be delivered as a blended learning experience. The course will also cover what core employee benefits to look out for when entering the world of work, as well as the role of investments when it comes to growing wealth.

Honor Yue Ai Brown, a University of Bristol Psychology student who took part in the pilot, said: "The course has been an empowering experience, equipping me with the tools to manage my current and future finances effectively. I feel less anxious about my current University finances, and more confident in taking the initiative to make informed financial decisions to support my life goals. For example, I now consider employer pension schemes when applying to different graduate jobs." 

Clare Stinton, Head of Workplace Saving Analysis at Hargreaves Lansdown said; “University is a major milestone for many young adults, it’s the point in the road when newfound independence meets financial responsibility head on. Big financial decisions line the path ahead, and the choices made can pave the way towards financial security and freedom, yet we find that many are often unprepared to navigate this transition.

Prof Bruce Hood, Professor of Developmental Psychology at the University of Bristol, said: “Student wellbeing is a priority for us here at the University of Bristol. Debt and money worries play major role in mental health which is why we are delighted to be teaming up with Hargreaves Lansdown to deliver a course that provides some basic fundamentals and practical wisdom for students to better organise their financial situation.”

Professor Hood runs the University of Bristol’s ‘Science of Happiness’ course, which teaches students about the latest peer-reviewed studies on happiness. The course was the first of its kind in the UK and has been found to make lasting improvements to students’ mental health. 

A post-doctoral researcher funded by the University of Bristol will measure the effectiveness of the Financial Wellbeing course. This research will also investigate the underlying mechanisms and predictors of financial wellbeing. The longer-term ambition is to extend the availability of these short-skill courses to all 25,000 undergraduate students at University of Bristol on an opt-in basis.

HL is leading the charge on financial resilience; in 2022 it launched its award-winning Savings & Resilience Barometer which measures the State of the Nation’s finances. It is already working with 31 employers to support the financial wellbeing of employees through the Bristol Financial Resilience Action Group. It now want to extend this to include financial guidance and practical money hacks for University students.