The Personal Finance Society (PFS) has just (31/3/21) launched as new free personal finance health check tool as part of its new Your Money initiative in its My Personal Finance Skills website.
The new website includes several helpful tools including:
- Health Check Tool
- Savings Calculator
- Understanding finance videos
- Planning your finances tool
- Fact sheets on how to avoid scams.
- Find a Financial Adviser Tool
These new initiatives have been developed as an extension of the PFS’s existing My Personal Finance Skills initiative which delivered financial education into schools and colleges. The PFS signed up 900 advisers to volunteer to deliver the schools training, including both Christina and Adele, who ran sessions at St Christopher’s in Accrington and at Nelson and Colne College.
The launch is in response to the Financial Conduct Authority (FCA) increasing concern about the financial vulnerability of adults in the UK. The FCA estimates that up to 50% of people are vulnerable to scams and changes to their financial circumstances. The tools are designed to help to reduce vulnerabilities by providing access to education and information. 75% of adults say they did not receive any financial education at school and wish that they had.