UK charity Citizens Advice is awarding new grants of nearly GBP300,000 for Financial Capability programs to help more consumers learn to budget, save and borrow wisely.
The grants are part of the overall Citizens Advice Financial Skills for Life program, which is sponsored by UK investments and insurance provider Prudential.
Citizens Advice is one of the largest voluntary organizations in the UK and the largest provider of free money advice. The charity believes that its Financial Capability scheme is a key tool in addressing the UK’s growing debt problem, with local Citizens Advice bureaux now dealing with over 1.25 million debt-related issues.
The new grants – GBP200,000 from the Friends Provident Foundation and GBP100,000 from the Abbey Charitable Trust – signify another step towards the charity’s aim to have Financial Capability services in all its 460+ member bureaux by 2010.
Building Financial Capability is the key to helping people avoid debt and cope with financial matters throughout their lives, commented David Harker, chief executive of Citizens Advice. Our vision is that, by 2010, every Citizens Advice bureau in England and Wales will be able to offer a Financial Capability service.