The Money Advice Service helps people manage their money. They do this directly through theirr own free and impartial advice service. Theey also work in partnership with other organisations to help people make the most of their money. They are an independent service, set up by government.
Their free and impartial money advice is available online, over the phone (Tel. 0300 500 5000) and by web-chat, in printed guides, and face to face through a UK-wide network of Money Advisers. Their Ask Ma campaign is letting millions of people know about Their new free service.
With a baby on the way, there’s so much to plan for. So preparing for the financial implications of a new arrival means money will be one less thing to think about.
The Having a baby booklet sets out some of the most important things expectant mums and dads need to do about their finances before and after baby arrives. It also highlights other important information and directs them to use the handy tools on our new and improved website.
The booklet contains information on:
- entitlements, managing money and rights at work
- easy-to-use calculators to help work out how much the new arrival might cost, plan a family budget, and how much different types of childcare might cost in particular areas, and
- more specialised sections covering money issues for adoptive parents, parents from outside the UK, and bereaved parents.
Instilling good money management habits at an early age is particularly important. Their work with young people is focussed on how best to support parents of young children, and on meeting the needs of young adults as they begin to make financial decisions for themselves. The Money Advice Service recently published a press release on Young People and Money. It has tips and tricks on how to speak to your child about money in a non threatning way.
In Wales the statiscs are:
- 52% of parents find it hard to talk to their children about money matters
- 73% agree parents are the biggest influence on development of children’s money skills
- 60% of parents say they discuss money matters regularly with their children
The Money Advice Service offer a wide range of services that include Tools and easy-to-use calculators that can help you budget, save and cut back on costs.