Financial Education

Pick up virtually any newspaper any day of the week and you’ll more than likely see a story about the ongoing ‘pensions crisis’ or the ‘personal debt crisis’. Regardless of some of the sensational headlines, there’s no doubt that more and more people find it hard to budget and manage their day-to-day finances, let alone save for the future. So, we’ve worked together with HR directors from large, medium and small UK businesses, to develop mymoneypal.

mymoneypal provides information on ‘all things financial’ relating to the average person’s everyday life, for example buying a car or a new house, calculating how long it will take and how much it will cost to pay off credit card debt, understanding state entitlements, how much life assurance do you actually need etc. The areas covered are presented under the headings of:

• work
• home and family
• health
• investment
• retirement  

All the information is supported with useful links to external websites.  There’s also a wide range of calculators and tools covering things such as:

• budgeting
• mortgages
• car finance
• understanding your tax code
• company car tax
• savings
• life assurance

Employees can dip into the mymoneypal ‘information bank’ as and when they need to – even from home.
 
There’s also a product search area that compares the prices of financial products. It can also be configured to give employees access to independent financial advice through our online advice centre.