Money advice site launched

A new website will aim to help some of the poorest people in Wales better manage their finances and prevent a further slide into debt.

Advice for thousands struggling with Christmas debt

As many families across Wales continue to count the cost of Christmas, a new website is hoping to help those struggling to make ends meet.

'Money Made Clear' offers impartial advice on savings, loans and debt to help prevent thousands of people sliding further into poverty.

The site includes a 'loan comparison' tool to show exactly how much a typical short-term borrower would pay back, including interest, over one month. In one example, someone who borrowed £500 could end up paying back over £680.

The site was launched by the Wales Co-operative Centre and is funded by the Welsh Government. Rob Shelley logged on to find out more...

Money Made Clear: Financial advice website launched

The website has been launched on 'Blue Monday' - supposedly the day when many families realise the enormous cost of Christmas Credit: Money Made Clear Wales

A website has been launched to help people in Wales better manage their finances.

The site - moneymadeclearwales.org - is designed to give advice on savings, loans and debt, as well as basic tips for how to handle money on a daily basis.

The launch comes on what experts are calling 'Blue Monday' - when the enormous cost of Christmas becomes apparent to people, many of whom might already be struggling with debt.

The Welsh Government-funded site aims to help people avoid loan sharks and provide alternatives to so-called 'payday loan' companies.

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New website launched to 'tackle our debt'

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The website will give basic financial advice and guidance from money experts Credit: ITV News

A new website will be launched today to try and encourage people In Wales to manage their money better. It is also hoped it will help the poorest avoid loan sharks and provide alternatives to pay-day loan companies.

Called money-made-clear-wales.org, it aims to increase the awareness and use of affordable credit unions and debt advice. It has been funded by the Welsh Government.