The Money and Pensions Service (MaPS) is playing a critical role in helping these people to deal with the crisis now whilst also driving forward the vitally important UK Strategy for Financial Wellbeing, laying the foundations for truly transformational change in the future.
As part of our commitment to helping people, we have launched a new online Money Navigator Tool in Welsh and English, to help people who have seen their finances impacted by Covid-19, by providing them with guidance personalised to their needs. I am sure you are working with people who are dealing with complex financial situations such as redundancy or job loss, the self-employed whose work has dried up, and people who have had a temporary income drop who need help to get back on track and who may find it difficult to know where to start. The tool will also help people who are looking for support in a specific area, as well as those who might be in a better financial position due to Covid-19 and want to know what to do with any savings they may have built up.
The tool will also help many people find support from other organisations, such as:
- Citizens Advice Cymru, StepChange, National Debtline and PayPlan for debt advice, as well as Business Debtline for business owners;
- Citizens Advice Cymru and Turn2Us for help with benefits and Universal Credit; and
- Shelter Cymru, for housing support.
Other resources will include bilingual guides from the Money Advice Service website.