Yahoo Finance Mortgages and debts top reasons for seeking money guidance
Mortgages and debts are the top reasons why people have sought money guidance over the past year, according to new figures.
Homes and mortgages were the top reason why people visited the Money Advice website between June 1 2020 and May 31 2021.
The most common reason people contacted its helpline during the same period was inquiries about debts.
The findings were released by MoneyHelper, which was recently launched by the Money and Pensions Service.
The Government-backed MoneyHelper service is a new single destination providing free money and pensions guidance over the phone, online and face-to-face.
Are you worried about paying your next bill? We want you to feel secure and in control of your money and we can help you achieve that. Find out more at https://t.co/vrv6mZFLBo pic.twitter.com/CgLw4hMMDt
— MoneyHelper (@MoneyHelperUK) July 22, 2021
It also signposts people to free-of-charge debt advice, if they need it. It brings together services previously provided by the Money Advice Service, the Pensions Advisory Service and Pension Wise.
On Monday, MoneyHelper launched a new online programme to help people build back their “financial fitness” during the Covid-19 pandemic called Couch to Financial Fitness.
It will guide people through three simple activities per week over four weeks, followed by a five-week extension to “strengthen financial habits”.
Topics users will cover as money essentials include cutting costs, staying on top of bills and strengthening savings.
Caroline Siarkiewicz, chief executive at the Money and Pensions Service, said: “Similar to a step-by-step approach to training for a 5k run, Couch to Financial Fitness can help people to improve their finances starting with just the basics.”
Here are the top reasons for visits to the Money Advice Service website between June 1 2020 and May 31 2021:
1. Homes and mortgages
2. Births, deaths and family
3. Pensions and retirement
4. Work and redundancy
5. Budgeting and managing money
And here are the top reasons for calls to the Money Advice Service helpline between June 1 2020 and May 31 2021:
1. Debt
2. Homes and mortgages
3. Benefits
4. Budgeting and managing money
5. Births, deaths and family
