10101832Building Psychological Readiness for Credit through XR gamesClosedCollaborative R&DInnovate UKFinancial education has been demonstrated to not only relieve financial anxiety and improve confidence in money management, but has also been shown to improve financial capability. This finding is key, as previous work by academic researchers has shown the negative cycle of poor financial capability and poor mental health - those with lower levels of financial wellbeing are also more likely to report mental health problems, which in turn can worsen financial capability. According to Money and Mental Health charity, 24% of people with anxiety and/or depression experience problem debt. In turn, research has also shown that relevant therapies can increase the recovery rate for people with anxiety and debt from 41% to 53%. These factors are compounded in underserved populations like young adults. For example, young adults with existing mental health problems are more likely to borrow money or use credit to pay for everyday outgoings. They are also more worried about their ability to repay compared to older generations. To tackle this, Good With have developed a FinIQTM financial psycho-educational pathway, which delivers free financial education using the principles of Cognitive Behavioural Therapy (CBT; a popular low-intensity intervention for common mental health problems) designed to empower financial decision-making in young adults. With this project we aim to further validate the effectiveness of the FinIQTM gamified pathway in relieving financial anxiety, improving financial confidence, and ultimately, improving financial capability in young adults through an engaging game, at an industrial level working alongside recognised professionals in the field of financial education. We'll be able to produce evidence of our innovative approach and secure a unique position in the market, to increase our IP value, show real impact and scale internationally, sooner.