Help to manage your money

Introducing MoneyHelper

Since the Money and Pensions Service (MaPS) was formed in 2019 they have operated three legacy consumer-facing brands:  the Money Advice Service, The Pensions Advisory Service and Pension Wise. 

MaPS has created a single body to bring together financial guidance services and content, making it easier for customers to find what they are looking for in one joined-up service. We can fulfil our obligations and achieve our goal by consolidating the multiple brands to create a single service.

Consolidating three brands into one means we will provide a better and enhanced consumer experience – a single source of information and guidance where information can easily be found in one place.  You can find further information on the website here

Money Helper / Helpwr Arian

Get regular updates from Money Helper online: sign up to our monthly newsletter, or follow us on Twitter and LinkedIn.  Or visit the website:  Financial Wellbeing in the Workplace

Our vision is ‘everyone making the most of their money and pensions’. 

What is financial wellbeing? 

At Money Helper, we describe financial wellbeing as feeling secure and in control. It’s knowing that you can pay the bills today, can deal with the unexpected, and are on track for a healthy financial future. In short: secure, confident, empowered.  

Financial Capability of people in Wales – pre-Coronavirus

• 84% of adults in Wales (2.1m) think it is important to save money for a rainy day.
• 27% of adults in Wales (0.7m) have less than £100 in savings and investments.
• 58% of adults in Wales (1.4m) feel that keeping up with their bills and credit commitments is a burden.
• 49% of adults in Wales (1.2m) with bills or credit commitments struggle to keep up, are falling behind or have fallen behind with their commitments.
• 58% of adults in Wales (1.4m) feel that keeping up with their bills and credit commitments is a burden.

Carers Wales research shows that over a third of carers (36%) said their financial situation had deteriorated since the COVID-19 pandemic began. Now, several months on, with the cost-of-living crisis deepening, this situation is likely to be worse. Money Helper has sections that could be of use to you as a carer.

Carers Information

On the Money Helper website, there is a section that is dedicated to Family and Care. This section offers advice on benefits, illness and disability, long-term care and others. To access these pages please click the link below.

www.moneyhelper.org.uk/en/family-and-care

Other tools

Managing your money in uncertain times

MoneyHelper provides a section on money troubles and offers suggestions for ways you can tackle managing your money in uncertain times.

https://www.moneyhelper.org.uk/en/money-troubles

MONEY NAVIGATOR TOOL (MNT)

Money Helper has developed the MNT, which helps people who have seen their finances impacted by Covid-19 and beyond, by providing them with guidance personalised to their needs.  The MNT helps people who are dealing with complex financial situations and may need help to get back on track but don’t know where to start.  The tool will also help people who are looking for support in a specific area.

Money Navigator | Coronavirus financial guidance | MoneyHelper

TOOLS AND CALCULATORS

MoneyHelper also offers a wide range of tools and calculators which may help you to understand your financial situation and calculate how much different elements of your finances are costing you.

Please note that in the section on the Money Matters hub on further resources and information there are also links to local, national and targets information and advice on areas such as debt management, building credit, saving and finding more support.

Here are some examples of the Tools and Calculators: 

Budget Planner - Budget Planner | Free online budget planning tool | MoneyHelper

Mortgage Calculator - Mortgage calculator | MoneyHelper

Loan Calculator - Loan calculator | Personal loan and interest payments | MoneyHelper

Savings Calculator - Savings calculator | Savings and interest payments | MoneyHelper

Car Cost Calculator - Car costs calculator | MoneyHelper

These are just a small example of the tools that are available.  We have a lot more tools and here is the link to find out more:  Tools and calculators | MoneyHelper

FREE PRINTED GUIDES

We also offer free printed guides.  Here is a link to where you can find out more and where you can order them from: Free printed guides | MoneyHelper

PENSIONS

MoneyHelper has a range of resources to help you manage your pension – including a section called Pension Wise.

This is a government service from MoneyHelper that offers free, impartial pension guidance about your defined contribution pension options. 

An appointment with Pension Wise is free and will help you understand what your overall financial situation will be when you retire.

It’ll talk you through your options to help you make the right decision. You’ll also find out about the other factors you need to consider when deciding on your options before retirement.

Pensions and retirement | Help with pensions and retirement | MoneyHelper 

CHILD TRUST FUNDS

Born between 1 September 2002 and 2 January 2011? You could have money in a Child Trust Fund waiting for you!

Do you have children between 9 and 18 years old, and you received Child Benefit; they probably have a Child Trust Fund. These are accounts that were introduced by the UK government to provide children with a pot of money when they reach 18. Find out more on the Money Advice Service’s website: Child trust funds | MoneyHelper and on the Gov.uk website: https://www.gov.uk/child-trust-funds

TALK MONEY WEEK 7^th November 2022

This year, Talk Money Week will take place from the 7^th – 13^th November

Talk Money Week | Join the conversation | The Money and Pensions Service (maps.org.uk)

This week encourages people to talk about their finances and start conversations to help improve financial wellbeing.