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Towards Effective, Innovative and Sustainable Money Advice. Helping people across the UK to tackle their debts and manage their money wisely . Joanna Elson Chief Executive, Money Advice Trust 20 July 2011. MAT takes three roles in the provision of money advice… .

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TowardsEffective, Innovative and SustainableMoney Advice

Helping people across the UK to tackle their debts and manage

their money wisely

Joanna Elson

Chief Executive,

Money Advice Trust

20 July 2011


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MAT takes three roles in the provision of money advice…

Improving the debt and credit environment

giving advice

supporting advisers


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Money advice works:

  • For people in debt: improved knowledge and confidence in managing money

  • (83% National Debtline clients)

  • For society: repossessions prevented at cost of £16000 per household

  • (estimate: Department for Communities and Local Govt)

  • For everyone: fewer doctor and hospital appointments needed (40% National Debtline clients)


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Household debt will rise to

£2.1 trillion or £84,000 per

household by 2015

Office of Budget Responsibility

revising upwards their forecasts,

April 2011


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Problem debt affects around 5 million people across the UK

Dr John Gathergood,

Nottingham University

2010


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Challenges and Solutions: 1

Demand

Optimal channel strategy


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Challenges and Solutions: 2

Effective, innovative and sustainable free services

Poor practice


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Challenges and Solutions: 3

Money advice beyond traditional settings

Infrastructure changes

Reduced funding


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Needs of the client

Effective, innovative and sustainable money advice

Effectiveness

Cost



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sustainable advice.....Good advice is worth

every penny we can

possibly spend on it’

Baroness Wilcox

Under Secretary of State

House of Lords

3 May 2011


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