Credit Counts

Closing date for responses has now passed. For more opportunities to engage with the UK Strategy for Financial Wellbeing, sign up for the MaPS monthly newsletter, and follow us on Twitter or LinkedIn. The UK Strategy for Financial Wellbeing sets out five challenges – ambitious goals to improve the lives of millions of people by 2030. We are now looking at these priority areas in detail,...

Challenge Group chairs will work towards the goals set in the UK Strategy for Financial Wellbeing 11 sector leaders who will head up cross-industry groups set up to help transform financial wellbeing are being named today by the Money and Pensions Service (MaPS). They will chair Challenge Groups which will recommend how the UK can achieve the five national goals set out in the...

New trials to see housing, mental health and ex-offender support workers trained as ‘money supporters’ New trials are looking to build on evidence that training frontline support workers in money guidance can help the UK’s most vulnerable people to address and avoid financial problems such as going into debt. Funded and coordinated by the Money and Pensions Service (MaPS), the trials...

Commenting on the Government announcement about Breathing Space, Craig Simmons, Head of Debt Policy and Strategy at the Money and Pensions Service said: “Having worked on the policy behind Breathing Space, it’s great to see it coming into effect in 2021. We welcome the fact that many people will benefit from 60 days without contact from their creditors. In this time, they can get debt...

Commenting on the incoming changes to overdraft charges, Money Expert at the Money and Pensions Service, Andrew Johnson, said: “Don’t panic if you get a letter from your bank about new overdraft charges. If you only dip into it occasionally you may not end up paying more because daily and monthly fixed fees are ending. However if you’re in your overdraft for most of the month or you’re...

Five priority areas to help people make the most of their money and pensions A new UK-wide strategy to transform the country’s financial wellbeing in a decade is being launched today by the Money and Pensions Service (MaPS) under its government mandate. Delivering on the strategy will transform the lives of many individuals, benefitting communities, businesses, the economy and wider...

In 2016, the Financial Advice Market Review (FAMR) developed initial high-level financial Rules of Thumb, in areas such as ‘cleaning up’ your finances, managing borrowing, saving regularly and focussing on your pension. The Money Advice Service (MAS) has been taking this work forward by developing a new Rule of Thumb to help young adults (18 to 24) use credit successfully. Previous MAS...

Join the 2030 Financial Wellbeing Challenge

11 sector leaders named who will help shape the UK’s future financial wellbeing

Frontline first responders could help the UK’s most vulnerable avoid spiralling into debt

Media comment: introduction of Breathing Space

Media comment: changes to overdraft charges

UK Strategy for Financial Wellbeing sets out ten-year vision to improve millions of lives

Developing financial Rule of Thumb to support young people using credit

Managing money in uncertain times