Helping consumers to manage their money : Money Advice Service

The Money Advice Service assumed responsibility for commissioning face-to-face debt advice in 2012, and has improved the standards of advice throughout the sector.

The Service provided 158,000 face-to-face debt advice sessions in 2012-13, an increase of 58 per cent on the previous year.

This report underlines how vital money advice is for some consumers to make effective decisions. 36 per cent of consumers in the UK sometimes or often run out of money before payday and the proportion of people with savings has decreased from 75 per cent in 2006 to 62 per cent in 2013.

Although the Service adopted a 'digital first' strategy, evidence is mixed that the digital platform is meeting consumers' needs.

Over 2 million consumers used its website in 2012-13, and 195,000 accessed its phone, webchat and face-to-face money advice channels.

However, it is not clear that the website is directing those who need more assistance towards phone or face-to-face channels.

In addition, an estimated 17 per cent of households still lack access to the internet, which might mean that some of those in most need of money advice cannot access the Service. The proportion of consumers using a tool on the website, such as a budget planner or savings calculator, has increased from 13 per cent in June 2012 to 25 per cent in July 2013.

The Service has not yet completed the development of a mobile platform, despite the fact more than half the adult population now use a mobile phone to access the internet.