Plaid Cymru’s Chris Franks has urged anyone with money woes worries to seek free, independent advice courtesy of a new website from the Consumer Financial Education Body (CFEB).
The AM for South Wales Central, which includes RCT, Cardiff and the Vale of Glamorgan, learnt about www.moneymadeclear.org.uk during an information session hosted by the CFEB in the Senedd this week. The CFEB is an independent body, which was established by the Financial Services Authority and funded through a levy on the financial services industry.
The website features several guides dispensing advice on how to manage household budgets as well as steps that can be taken to cope with a drop in income on retirement or being made redundant.
Mr Franks said: “At a time when people are losing their jobs or being forced to take significant pay cuts, it is getting increasingly difficult for some households to balance the books.
“I would urge anyone who has money problems not to bury their head in the sand but seek advice by the CFEB as soon as possible.
“During the information session, the CFEB was able to provide many anonymous case studies showing how they have helped people reduce their outgoings and prevent them from falling into a spiral of debt.
“The service currently operates in pockets of the country, including Cynon Valley and Pontypridd, but from April 1st will spread across Wales.”
Mr Franks added: “In the face of a Westminster coalition unsympathetic to the needs of the people of Wales and a local authority in RCT which seeks to make the lowest paid workers bear the brunt of their financial woes, I’m afraid to say the CFEB will soon become much in demand.”
