Families in social housing schemes have received financial training thanks to a unique project.
Funded by Santander in partnership with Citizens Advice and the University of Bristol, people took part in group and one-on-one sessions in an effort to improve their financial acumen.
Some 78 per cent of participants changed their spending behaviour after completing the process, 12 per cent started to save afterwards and ten per cent increased the amount of money they are saving.
If the project was rolled out nationwide, it is estimated that the UK's 4.6 million social housing households could collectively save £36 million a week by following the guidelines.
Jaime Graham, Director at Santander, said: "This project clearly shows the importance of financial education and the difference it can make to households on lower incomes."
He added the tools and knowledge gained from sessions such as these provides individuals with the chance to organise and manage their household budgets in a much more effective manner.