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Description (Aim & Needs):
Provision of information via a range of impartial, online, interactive tools that help consumers with budgeting, borrowing, planning for the future and shopping around.
The audience is mass market, but there is an emphasis on the 'anxious aspirant' – consumers who know they should be doing something but don't quite know where to start.
The tools are part of the FSA's Moneymadeclear consumer website and are also available via a range of third party FSA partner sites.
The tools relate principally to the following outcome, that adults are confident in managing money and planning ahead.
In addition, the young adults's website (What About Money) has the same objective, but is specifically targeted at 16 – 24 year olds.
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Evaluation of the Programme:
FSA evaluates these online tools through online surveys. A survey in August 2007 revealed that up to 50% of those consumers who completed the Financial Heathcheck and Debt Test felt more confident about managing their finances. This suggests that upward of half million consumers have benefited from using these tools since their launch.
FSA also monitors monthly visits and referrals from other websites as a measure of success. The Financial Healthcheck tool has received 1.3 million visitors since its launch in June 2005. The Debt Test tool has received 900,000 visitors since launch in January 2006.
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Improving Financial Education and Awareness on Insurance and Private Pensions
