The 18th-century woman who made saving possible for the poor
About this episode
The episode discusses Priscilla Wakefield's contributions to financial inclusion and the establishment of the first penny savings bank in England.
Priscilla Wakefield was a Quaker, writer and social reformer who believed financial security shouldn’t be reserved for the wealthy. Living in late 18th- and early 19th-century England, she founded the country’s first penny savings bank, giving working women and children a safe place to save. Victoria Bateman, author of Economica: A Global History of Women, Wealth and Power, tells hosts Gillian Tett and Robin Wigglesworth about Wakefield’s life, her ideas and how a simple concept — saving small sums — helped spark a quiet revolution in financial inclusion, with lessons for today. But that didn’t stop Wakefield from running into financial problems of her own. Further reading: Economica: A global history of women, wealth and power, by Victoria Bateman (2025) Reflections on the present condition of the female sex, by Priscilla Wakefield, (reprinted 2015, Cambridge University Press) Credits: Cambridge Library Collection, National Portrait Gallery, Disruption Worthies, National Park Service, Hollinger & Rockey To enjoy future episodes, be sure to subscribe to The Story of Money wherever you get your podcasts, also on the show's dedicated YouTube channel here: /…
More episodes of The Story of Money
- Why Richard Nixon torpedoed the global monetary system
- The deal that put the dollar at the centre of the world
- Why money is the biggest shared hallucination in human history
Explore listener stats, chart rankings, contacts and more on the The Story of Money podcast page.