The Money Advise Service which the government launched last year was used by nearly 1.3 million people in just 12 months. Over a million people have visited the Money Advice Service’s website in the past year. This service is completely free and its goal is to help Britons who are not familiar with finances and need financial advice, education or need help with their debts.
84,000 have used a telephone to contact the service and seventy four thousand appointed face-to-face meetings with financial advisors. The statistics show that 521,000 of the consumers who used the Money Advice Service were advised to create a plan in order to eliminate their financial problems.
Chairman Gerard Lemos spoke about the success of the new Money Advice Services. He described it as very successful and is happy to see that the first year was very busy. He hopes that the service will keep developing and improve the financial education of Britons.
“People residing in the UK are facing a lot of problems controlling their savings, pensions and income. Many Britons have no idea what products they need and they use their money too passively. Currently, millions of people have financial problems and have to improve their debt management skills. Considering the low-level financial education among people, the Money Advice Service is more than needed, because it will help people and help stabilize the country’s economy.”
He continued: “The goal of the service is to improve the financial education of the youngsters. We know that it will take years, but we are doing our best and we are confident that success will come sooner or later. We must make sure that future adults can control their finances and have confidence in their financial future. If we succeed, Britons will be able to control their finances and easily deal with whatever life throws at them.”