One of the most distressing facts of modern society is that such a large percentage of people find themselves saddled with debilitating debt. In many cases, remedies simply compound the problem. Analysts agree that one of the main factors causing this situation is the fact that too many people are not cognizant of the workings of the financial system. This state of affairs has prompted the United Kingdom government to implement a system called Money Made Clear.
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.
The system is available to anybody and it is free of charge. There is a high emphasis on the use of plain language that is easily understood by everybody. Advice or help may be asked regarding any financial matter. Management of bank accounts, retirement planning, debt management and the explanation of the terms of contracts are just a few examples. Advice is always impartial and real experts are employed to help solve the problems of ordinary citizens.
The system has proven to be a very valuable educational tool. Because it is so easy to use and so readily accessible, many users are able to access valuable information that enables them to manage their personal finances. Easy to follow instructions on sensible budgeting, planning for a family and children, retirement planning and many other subjects are offered. Many tools and additional information also allow users to implement the advice with the minimum of effort and time.
In many cases individuals face a specific situation that is not ordinarily a part of their financial landscape. The loss of a job, for example, or a divorce may place individuals in a precarious financial situation unexpectedly. This new system offer advice and aid for a host of such specific circumstances. While many other government agencies have long been offering these types of services, they are not integrated and many people are ignorant regarding the measure of relief available.
The system does not only cater for those individuals that experience financial difficulties. Anybody that need advice on any financial matter may use it freely. Those contemplating buying a home, for example, may access the advice of experts in obtaining the best interest rate. Many people also utilize the service to gain assurances regarding the terms of financial contracts before they actually commit themselves.
There are numerous advantages to this system. While the operation of the service is expensive, the fact that thousands of people are empowered to manage their own finances more responsibly inevitable lead to a lesser demand upon the social services of the state. Lenders are also more likely to receive regular payments if the client entered into a contract with circumspect and fully aware of all the ramifications.
Democracies are often described as government by the people for the people. The Money Made Clear program is certainly an example of a government taking steps to address issues that have a direct influence upon the quality of life of their citizens. In time, millions will benefit and its success may even spur the introduction of other programs.
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