With the major parties announcing their manifestos this week, debt management has been at the forefront of many peoples’ minds.
Here are some of the stories which made the news.
Labour plan to end the exploitation of bank customers by making account-switching easier to do. They also aim to provide compulsory personal finance education and ban credit card companies from introducing stealth taxes.
The Tories are also looking to ease the nation’s finance problems by letting the public decide tax levels and allowing them to control how public money is spent.
They also plan to introduce the Consumer Protection Agency to help prevent people from getting in debt caused by store cards.
Meanwhile, the Liberal Democrats aim to end excessive overdraft charges and accused the business world of “ripping people off”.
On top of this, their “manifesto for consumers” includes bringing in new energy tariffs to help those with financial problems.
Away from the election, Tony Hobman has taken over as chief executive of the Consumer Financial Education Body. The new service lets people speak to money experts who can help them with their financial problems.
Duration : 0:1:11