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Towards Effective, Innovative and Sustainable Money Advice

Towards Effective, Innovative and Sustainable Money Advice. Helping people across the UK to tackle their debts and manage their money wisely . Joanna Elson Chief Executive, Money Advice Trust 20 July 2011. MAT takes three roles in the provision of money advice… .

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Towards Effective, Innovative and Sustainable Money Advice

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  1. TowardsEffective, Innovative and SustainableMoney Advice Helping people across the UK to tackle their debts and manage their money wisely Joanna Elson Chief Executive, Money Advice Trust 20 July 2011

  2. MAT takes three roles in the provision of money advice… Improving the debt and credit environment giving advice supporting advisers

  3. Money advice works: • For people in debt: improved knowledge and confidence in managing money • (83% National Debtline clients) • For society: repossessions prevented at cost of £16000 per household • (estimate: Department for Communities and Local Govt) • For everyone: fewer doctor and hospital appointments needed (40% National Debtline clients)

  4. Household debt will rise to £2.1 trillion or £84,000 per household by 2015 Office of Budget Responsibility revising upwards their forecasts, April 2011

  5. Problem debt affects around 5 million people across the UK Dr John Gathergood, Nottingham University 2010

  6. Challenges and Solutions: 1 Demand Optimal channel strategy

  7. Challenges and Solutions: 2 Effective, innovative and sustainable free services Poor practice

  8. Challenges and Solutions: 3 Money advice beyond traditional settings Infrastructure changes Reduced funding

  9. Needs of the client Effective, innovative and sustainable money advice Effectiveness Cost

  10. Locally based but UK wide services providing effective and sustainable advice.....

  11. ‘Good advice is worth every penny we can possibly spend on it’ Baroness Wilcox Under Secretary of State House of Lords 3 May 2011

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