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Government money service proves popular

Government money service proves popular

Category: Money

Updated: 15/08/2012
First Published: 15/08/2012

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 It is now over 6 months old so the content may be out of date.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 free and independent financial advice service launched by the Government attracted 1.3 million users within it first year of operating.

The Money Advice Service provides online, telephone and face-to-face information, education and advice on a variety of topics, including debt and money management to those unable to pay for financial advice.

Set up as part of the Government's drive to provide confidence and financial education, the success of the service suggests more people are taking control of their finances by seeking advice and tackling money worries.

The service's health check facility helped over half a million people to assess their financial situations over the past year, with over half resulting in a positive action plan.

Advisers dealt with 84,000 calls over the past year from people seeking assistance with their finances, with over 70,000 taking part in face-to-face advice sessions.

Nine out of ten users said that they would use the service again in the future if they suffered financial problems or concerns.

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