Money Navigator Tool

Nick Hill, money expert at the Money and Pensions Service commented: “We know that a lot of people are worried about their finances right now and will be wondering what the measures announced in today’s Budget might mean for them. “If you think changes to the Universal Credit taper rate may apply to you, or you think you may be claiming Universal Credit in the future,...

Nick Hill, money expert at the Money and Pensions Service commented: “The measures announced in today’s Budget will continue to provide support for people impacted by the Covid-19 pandemic. However, we know how worried many people are about money right now and dealing with complex financial situations. It can be hard for many people to know where to start in terms of getting help, but it’s...

55% of people don’t feel comfortable opening up when they have worries about their financial situationDespite 48% admitting they have regularly worried about money recentlyiTop reasons for bottling up money worries include shame, not wanting to burden others and claiming they were brought up to avoid talking about money A new study into the financial behaviours of UK adults, released today...

40% of people are keeping secrets from loved ones about credit cards, loans and savingsPeople are most likely to keep money secrets from their partnerMillennials (25-34 year-olds) most secretive generation, with three in five (59%) hiding money products UK adults have kept at least 21 million2 financial products secret from their loved ones, according to a new study of people’s financial...

MaPS responds to the FCA’s press release highlighting the continued support for consumers struggling with payments. James Fearnley, Corporate Policy and Propositions Manager at the Money and Pensions Service said: “It’s crucial that people who are struggling to make credit and mortgage repayments don’t suffer in silence, particularly those who have been hit hardest by the financial...

Valentine Mulholland, Senior Policy and Propositions Manager at the Money and Pensions Service said: “The measures confirmed today will be helpful for people with credit or overdraft commitments who continue to face financial difficulty after the end of October. If people are still struggling with their finances at the end of payment holidays, they shouldn’t suffer in silence. It’s crucial...

Chancellor Rishi Sunak has today announced details of a new Job Support Scheme amongst a package of other measures to support business and workers impacted by coronavirus over the coming months. Alex Connolly, Chief Operating Officer at the Money and Pensions Service said: “We know how worried many people are about money right now, including those whose jobs continue to be impacted by...

First funds will help agencies maintain pre-pandemic levels of debt advice Work has commenced to bring 500 new debt advisers into the sector The need for debt advice is expected to increase by 60% over the next 18 months The first tranche of an additional £37.8 million to fund extra debt advice and other money support for people affected by Covid-19 has been allocated by the Money and...

James Fearnley, Corporate Policy & Propositions Manager at the Money and Pensions Service said: “It’s good the FCA has examined the important issue of re-lending practices. Given the report was conducted before the extra hit from Covid-19 it’s now even more important that consumers take time when making decisions and bear in mind the long-term implications of using high-cost credit....

Andrew Johnson, money expert at the Money and Pensions Service said: “The extension of support measures confirmed today, including for motor finance and high-cost credit customers, could be helpful for people who are experiencing temporary payment difficulties, as we know that Covid-19 is continuing to affect people’s finances. It’s really important that people speak to firms to find out...

Media comment: Autumn Budget 2021

Media comment: Budget 2021

Shame, upbringing and burdening others: why 29 million UK adults don’t feel comfortable talking about money despite feeling worried about it

21 million money S£CR£TS kept from loved ones across the UK

Media comment: FCA’s continued support for consumers struggling with payments

Media comment: FCA’s continued support for consumer credit and overdraft customers

Media comment: Job Support Scheme and money guidance

Additional £38 million for debt advice funding in England goes into action

Media comment: FCA’s review of re-lending by firms that offer high-cost credit

Media comment: FCA’s continued support of car finance and high-cost credit customers

Managing money in uncertain times