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Child Poverty Action Group publishes revised Personal Finance Handbook

The Child Poverty Action Group (CPAG), together with SAFE (Services Against Financial Exclusion) an initiative of social reform charity Toynbee Hall, has published the second edition of its Personal Finance Handbook.

The book was launched at a reception at the House of Commons on 17 October. Speaking at the launch, Kitty Ussher MP, Economic Secretary to the Treasury, said, "High quality, impartial advice is essential," and underlined the government's commitment to improving financial capability and inclusion.

The book, produced with assistance from Abbey, provides a clear overview of financial products and services such as bank accounts, savings, loans, pensions and insurance.

The Handbook is non-biased and non-brand specific and explains:

  • why financial planning is important, and how to go about it
  • when you might need a particular product or service, and the types of provider
  • what costs might be involved, the small print, and how to protect yourself from fraud or mis-selling
  • your rights and responsibilities as a consumer
  • where to get further advice and help, and how to complain if necessary.

This edition is completely revised and updated since the first (2005) edition. It has new and expanded information on child trust funds, online banking, pension scheme changes, pre-payment cards and mobile phone payments, the expanding range of services from credit unions, new Shariah-compliant products, and Christmas saving schemes. It also covers forthcoming changes to tax, National Insurance and student grants.

The Personal Finance Handbook is targeted specifically at those who are:

  • advising people on low to moderate incomes who may be having difficulty accessing everyday financial products that could help them - for example, a bank account to receive direct payments
  • participating in financial literacy projects, or providing education or training in financial literacy.

    • The guide is geared to the needs of general advisers, such as Citizens' Advice staff and other charitable workers and trainers rather than IFAs. Although it is not primarily aimed directly at the consumer, many individuals will find it useful.

    The Personal Finance Handbook, available from CPAG price £15, was written by Jonquil Lowe, a former head of the Money Group at Consumers Association and the author of numerous Which? Consumer Guides.

    Do you need unbiased independent financial advice? Why not give us a call?

    31 October 2007 © Moneyextra.com

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