Business

Financial healthcheck is unveiled offering money help

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Media captionOnline money health check launched

An updated online service being launched on Wednesday aims to give UK consumers a financial healthcheck within 10 minutes.

The government-backed Money Advice Service, which is funded by a levy on the financial services industry, said the system would be free and unbiased.

The healthcheck is based around a series of multiple choice questions on personal budgets.

It then produces an action plan and offers links to advice groups.

The Money Advice Service believes that millions of people are worried about their day-to-day budget and need directions on where to turn for help.

"This is the money-equivalent of a reliable sat-nav. We help people to see where they are now, and then we help them get from A to B by the best route for them," said Gerard Lemos, chairman of the Money Advice Service.

"Most importantly, our advice is free and unbiased and we will not sell them anything.

"Our new online healthcheck is designed with your attitudes to money and your aspirations for life in mind. In less than 10 minutes the healthcheck identifies the top three things you and your family can do to make the most of your money right now, and to plan for future goals."

Savings, debts and housing costs are all covered by the healthcheck.

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