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Real help at hand as North West’s money habits revealed

Moneymadeclear provides guidance people need on money matters that shape their lives
21st April 2009: A new service offering practical help and information on money matters has been launched in the North West and North East of England by The Financial Services Authority (FSA) and HM Treasury.

Moneymadeclear offers real help that’s tailored to individual needs, whether it’s getting to grips with budgeting and saving, help to cope with the effects of the downturn, or understanding tax and pensions planning.

Help is available through the Moneymadeclear website  – which features tools such as a financial health check and a budget calculator – from trained ‘Money Guides’ over the phone, or face to face at local centres.

As Moneymadeclear is launched, a Onepoll survey has revealed that when it comes to keeping track of their money, nearly two thirds of people in the North West say they are unsure what’s in their bank account, with one in 10 never checking it.

Nearly half of those questioned say they would welcome guidance on money matters. But with many respondents not knowing where to go, not understanding money jargon, or thinking getting help will cost them money, people have not found it easy to get help with their money worries.

Just over two thirds of people surveyed from the North West say they buy without being sure whether they can afford it and nearly half admit to regularly running out of money before their next pay day. Four out of 10 were unsure how much their regular bills amount to each month.

Moneymadeclear is available to anyone in the North West and North East of England as part of a year-long pilot.

Chris Pond, the FSA’s director of financial capability, said: “This Moneymadeclear service will provide tailored help at a time when people in the North West urgently need it as we test the delivery of clear, impartial and personalised information and guidance on money matters. We want Moneymadeclear to help give people the confidence and capability to make the most of their money – now and in the future – by providing guidance that people need on the money matters that shape their everyday lives.”

Ian Pearson, Economic Secretary to the Treasury, said: “People who are facing money concerns or questions need to know that good, practical help is at hand. With this new service, people in the North West and North East can now speak to impartial, trained Moneymadeclear staff who can help them deal with the money worries they face as well as plan for the future with confidence. 

Andrew Allen, a Moneymadeclear ‘Money Guide’ based in the North West, commented: “It’s not easy nowadays to keep on top of your money, even on a day-to-day basis, and as the survey shows we still have a tendency to just blow caution to the wind and then worry later. The problem is, when those worries surface, a large number of us simply don’t know where to go to get help and we feel in even less control of our money than we did before. The whole purpose behind Moneymadeclear is that it can help you get back in control, and feel confident about your money – hopefully leaving you with one less thing to worry about.”

For impartial money guidance please visit www.moneymadeclear.fsa.gov.uk or call 0300 500 5000 for a completely confidential chat or to arrange a free face to face session with a money guide near you.

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