New guide to banish financial confusion

Tue, 12 Apr 2005

A money education charity has launched a guide which will help people take control of their finances.

Credit Action's new moneymanual is aimed at those who are unsure, confused or just plain scared of their personal finances.

Figures suggest that currently at least one in three adults lack confidence when it comes to handling their finances.

On top of that personal debt in the UK, which is continuing to soar, is expected to explode through the £1.1 trillion barrier in June this year.

"People need a source of information which is comprehensive, accessible as well as unbiased," believes the national director of Credit Action, Keith Tondeur.

"Financial products are difficult to understand, particularly when there are teams of marketing and sales people trained to make us buy."

The guide covers a range of topics, including saving, investing and general financial planning.

It is hoped the guide will help people to save more effectively, especially since recent government figures showed that 45 per cent of adults do not currently have any pension provision.

The Financial Secretary to the Treasury, Stephen Timms has also welcomed the new guide, saying: "Credit Action is to be congratulated on producing such a helpful guide."

He pointed out: "The Government fully supports and is committed to improving financial education for all, so that everyone has the skills and knowledge they need to manage their finances confidently."

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