With the cost of living rising and households under pressure, Kevin Duffy, Scotland Partnership Manager at the Money and Pensions Service (MaPS) talks about the importance of financial wellbeing and the support and resources that MaPS can provide, including their mental health and money toolkit to ensure everyone has access to the right kind of advice.
What is financial wellbeing?
Financial wellbeing is about feeling secure and in control. It is about making the most of your money day to day, dealing with the unexpected, and being on track for a healthy financial future. In short: financially resilient, confident and empowered. For Scotland, and the rest of the UK, it is more important than ever.
Who are the Money and Pensions Service (MaPS)?
The Money and Pensions Service is an arm’s-length body sponsored by the Department for Work and Pensions; it engages with HM Treasury on policy matters relating to financial capability and debt advice. Our mission is to ensure everyone in the UK can easily access the information they need to make the right financial decisions for them throughout their lives, making the most of their money and pensions.
Mental Health and Money Toolkit
The Money and Pensions Service has been recently been involved with Public Health Scotland in distributing the Scottish version of the Mental Health and Money Toolkit to every GP practice in Scotland. The toolkit was developed and launched in collaboration with Support in Mind Scotland and Scottish Government and is a resource to help people understand, manage and improve their financial and mental health.
Money Guiders provides lots of information to organisations that have to provide money guidance as part of their package of support. The Money Guiders resource is aimed at anyone who has to provide non-regulated financial advice as part of their role. It provides free resources as well as access to practitioner networks and competency frameworks.
MoneyHelper is the consumer brand provided by MaPS, bringing together the legacy services of the Money Advice Service, the Pensions Advisory Service and Pension Wise. Through its range of resources, tools and calculators MoneyHelper supports people to understand their options and improve financial wellbeing.
MoneyHelper provides financial guidance and information on the following topics:
- Everyday money
- Family & care
- Money troubles
- Pensions & retirement
For free assistance online or over the phone, go to: https://www.moneyhelper.org.uk/en
For more information about all the support that Kevin and his colleagues can provide at MaPS, please download their supporting document
Kevin Duffy is Scotland Partnership Manager with the Money and Pensions Service.