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thirds of people attending money management sessions run by
Citizens Advice Bureau (CAB) volunteers felt more confident about
handling their finances as a result, new research has shown.
Nearly half said they would now open a savings account and one
in four said they will change how they save money. Plus 27% said
they planned to set up a budget to help them manage their money and
22% said they would change how they plan for future spending.
Over the last three years more than 1,700 CAB volunteers have
been involved in running money management sessions in their
communities, helping people get to grips with their finances. This
was part of the MoneyActive programme in England and Wales which
received £3 million of funding from Nationwide Building
The MoneyActive sessions aimed to equip people with the skills,
knowledge and understanding to budget, borrow and save with
confidence, and to avoid unmanageable debt. The volunteers have
reached groups of employees facing redundancy, young mothers, and
people with learning difficulties. They also trained frontline
workers, such as children’s centre workers, tenant advisers and
mental health workers, so they could share the knowledge and
training where they work. It is estimated that the benefits of the
training reached over 200,000 over the three year project.
As well as the interactive sessions, people have sought money
advice online with over 4.4 million visits to the money management
pages of the Citizens Advice website
Adviceguide (link opens in a new window), which were updated as
part of the MoneyActive programme to include interactive self-help
tools and content on budgeting, borrowing, saving and banking.
Nearly half of the visits to the online money pages were people
looking for help with debt and over one in 10 sought advice on
their mortgage problems.
There will be a legacy from the three year project with more
than 70% of MoneyActive bureaux set to continue to provide money
out more about the MoneyActive project (link opens in a new
Source: Citizens Advice
press release (link opens in a new window)
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