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Consumers offered free financial health check

Consumers offered free financial health check

Category: Money

Updated: 08/06/2011
First Published: 08/06/2011

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

A new service from the Money Advice Service can give people a financial health check in just ten minutes.

The service is backed by the Government and pledges to offer free and unbiased advice to people based on the answers they give.

The multiple choice questions cover savings, loans and other costs to determine what state people's finances are in.

Advice on how to improve your finances is then given, as are links to advice groups.

The Money Advice Service says that nearly 17 million people are worried about their day-to-day finances, with millions more unaware or unsure of where to turn for free, unbiased advice.

"The Money Advice Service is the money-equivalent of a reliable sat-nav," said George Lemos, chairman of the Money Advice Service.

"We help people to see where they are now, and then help them get from A to B by the best route for them. Most importantly, our advice is free and unbiased and we won't sell them anything.

"Our new online health check is designed with your attitudes to money and your aspirations for life in mind. In less than 10 minutes the health check identifies the top three things you and your family can do to make the most of your money right now, and to plan for future goals."

Mark Hoban MP, Financial Secretary to the Treasury, said the check will put people back in charge of their finances.

"It will help them manage their money and plan for the future by providing support tailored to meet their needs," he added.

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