Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said:
“Many people watching today’s Spring Statement might be worried about managing their money in these uncertain times. Our research shows more than one in three admit to feeling worried when thinking about money matters, and nearly half admit they don’t feel confident in managing their money day to day.
“If you have these concerns, you’re not alone. Free help is available – and taking small steps now can make a difference. MoneyHelper has launched a new guide to Living on a Squeezed Income, which can help people make the most of the income they have available – from budgeting and ways to save on household bills, through to extra support for those who are working, or dealing with money and mental health if things are getting too much.
“If you’re finding it hard to keep track of the different payments you have each month and are worried you may fall behind, MoneyHelper’s new Bill Prioritiser tool can help. It sorts your bills into priority and non-priority payments so you know which bills to pay first, and what extra support might be available.
“This could include specific help from creditors such as affordable payment plans or payment holidays, lower-cost tariffs, benefits that may be available, schemes that support people with certain needs because of illness or disability, and where to look for grants or charitable help.
“Whether you need help with managing bills, making the most of the money you have or may be entitled to, or sorting your pension, you can find out how to find your way forward on the MoneyHelper website.”
About the Money and Pensions Service
The Money and Pensions Service (MaPS) is here to ensure every person feels more in control of their finances throughout their lives: from pocket money to pensions. When they are, communities are healthier, businesses are more prosperous, the economy benefits, and individuals feel better off. MaPS delivers free and impartial money and pensions guidance to the public through MoneyHelper, which recently brought together legacy services the Money Advice Service, The Pensions Advisory Service and Pension Wise.
MaPS is working to make sure the whole of the UK understands that financial, physical and mental health are all deeply connected. MaPS’ role is to connect organisations with the shared purpose of achieving the five goals set out in the UK Strategy for Financial Wellbeing.
MaPS supports innovation so that everyone can use the most effective methods to help people feel more in control of their money, targeted to those most in need and inclusive of people from all backgrounds. MaPS is an arm’s-length body sponsored by the Department for Work and Pensions (DWP).