Why The Money Made Clear Program Changes Lives

First world financial systems are highly sophisticated and complex. Contracts and agreements are often misunderstood by laymen. A large percentage of people who find themselves in serious financial difficulties end up in that position because they do not understand the workings of the system. It is for this reason that the United Kingdom has launched an ambitious program called Money Made Clear that aims to provide financial advice to everybody.

The service consists of three main components, namely a telephone helpline, a website and face to face meetings with independent financial experts. The initial launch of the program was funded by the United Kingdom government. Twenty million pounds were employed to create a sophisticated yet user friendly system. Further funding will be ensured by removing funds from redundant bank accounts.

There are no restrictions regarding the type of advice or help that may be requested. Individuals of all ages and all walks of life may require help on literally any financial matter. Help with opening a savings account, advice on interest rates, the explanation of complex financial terms and the management of debts are only a few of the topics regularly dealt with. The service is free of charge and great efforts are made to use plain language that is easily understood by laymen.

The system places a high emphasis of financial education. Users are able to access a host of services providing sensible and impartial advice. It is possible to obtain an individual credit rating as a starting point. Based upon this rating, advice can be obtained regarding prudent budgeting and financial planning. Easy to follow plans about planning for a family and children, obtaining study loans and bursaries and even retirement planning are offered in an easily understandable manner.

There are many systems in place that aim to address specific individual circumstances. Many of these systems are not readily accessible, or people do not know about them. This integrated new system is of great value to those that face individual financial crisis. Advice and aid is offered to those that have lost their jobs, those that are unable to meet monthly payments, those that have to deal with unreasonable authorities and many others specific instances.

A large percentage of people who wish to make major financial commitments also make use of this service. When buying or selling a home, for example, it is possible to gain advice and help in the drawing up of contracts. Similarly, it is possible to ask financial experts to explain the exact implications of a financial contract before the individual commit himself. In this way many people are helped to prevent potential future financial difficulties.

It is almost unanimously agreed that the introduction of this service has been an unqualified success. The cost of maintaining the service is offset by the fact that fewer people need aid from state agencies. In addition, financially independent people are generally considered less likely to commit crime. Most experts agree that education is the key to civil stability, and this system goes some way in helping to ensure an financially educated public.

The Money Made Clear program is an excellent example of the type of practical, valuable services that governments can offer to their constituents. No doubt it will serve as an example to governments in other parts of the world. With creativity and commitment, it is possible to improve the lives of many people significantly.

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