Charities have offered guidance on budgeting and savings accounts. A new financial guide, including information on savings accounts, has been launched by charities Toynbee Hall and the Child Poverty Action Group (CPAG).
The Personal Finance Handbook, which is also backed by the Financial Services Authority (FSA), offers targeted advice on financial planning, credit, personal budgeting and savings for families who might be struggling with money matters.
It could be used by customers as a supplement to existing free financial support from groups including Citizens Advice and the Consumer Credit Counselling Service.
Commenting on the new publication, CPAG chief executive Kate Green said: “Particularly in times of recession it is important that people are given all the information possible to help family budgets stretch further.
“We are delighted to work with Toynbee Hall and the FSA on this book.”
Recent figures from the Association of British Insurers suggest that around 40% of people are saving “little” or “nothing” for their retirement.
Wide-scale financial problems are also revealed by government figures, which show that around 23% of Britons lived below the poverty line in 2007/08.
This means that the annual income of 13.5 million people was below 60% of the national median.
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I hope this new financial guides will do the job. It is so nice when you may receive a professional help to manage your budget and credits. Also it is in handy to have all required information at the opportune time. Thanks.