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Citizens Advice MoneyActive project helps over 200,000 people - Turn2us

Citizens Advice MoneyActive project information (link opens in a new window)Two 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 Society.

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 management sessions.

Find out more about the MoneyActive project (link opens in a new window)

Source: Citizens Advice press release (link opens in a new window)

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