A new scheme being launched by Nationwide and Citizens Advice is set to teach people how to effectively deal with debt management.
The MoneyActive programme, unveiled today (May 13th) at an event at the House of Commons, will provide 100,000 consumers with financial education lessons.
Nationwide has invested £3 million into the project, which will see 1,300 Citizens Advice volunteers offering debt help to participants.
Chief executive of the charity David Harker noted that debt issues are the “number one” problem dealt with in Citizens Advice bureaux.
“MoneyActive is a unique and extremely ambitious project which delivers on our commitment to do more to help people avoid getting into financial crisis,” he remarked.
Those taking part in the sessions will be trained on how to borrow, budget and save confidently without falling into difficulties.
Meanwhile, the Personal Finance Education Group recently stated that the economic downturn has highlighted the need for young people to be taught about money handling.
By Jamie Price