There are many ways to get free financial help and information. But it also pays to know when you might need the type of advice free services can’t provide.
You can get free financial help and information from:
While these services might be reliable sources of help and guidance and give you information about different options, they don’t offer what is known as ‘regulated’ financial advice.
This means that if you buy a financial product based only on the information you receive from them, you alone are responsible for the decisions you make.
You will also have fewer rights if the product turns out to be unsuitable.
Some organisations offer help and information on a wide-range of money issues, including:
Most are free, although for organisations like Which? you might have to pay a subscription for some of the services.
We’ve grouped them into broad categories to help you pick out the most relevant for your needs.
Here at the Money Advice Service, we provide free and unbiased help and guidance on all money matters.
Our service is available online, over the telephone (0800 138 7777) and is backed by government.
Here are some other useful sources:
The following organisations offer free, impartial support and advice to anyone in debt, worried about debt or facing bankruptcy.
Business Debtline offers a free debt advice service to self-employed people and small businesses in England, Wales and Scotland.
For information about bankruptcy or how to get redundancy if your employer can’t or won’t pay, contact the Insolvency Service.
It deals with bankruptcy, individuals subject to debt relief orders and companies and partnerships wound up by the court.
It also acts as trustee/liquidator where no private insolvency practitioner is appointed.
Financial advisers are authorised and regulated by the Financial Conduct Authority (FCA) and therefore provide regulated financial advice.
Regulated advisers can only recommend and sell you products that are suitable for you.
If they sell you an inappropriate product or give you inappropriate advice, you can make a complaint and if necessary take your complaint to the Financial Ombudsman Serviceopens in new window.
Deciding whether to use a regulated financial adviser depends on how complicated your finances are and what type of product or service you want.
If you’re looking for a basic savings product or straightforward car or house insurance, you might not need regulated financial advice.
However, if it’s something more complicated like a pension, investment or mortgage, don’t risk going it alone unless you’re certain you know what you’re doing.
If you’re not, then get advice from a regulated professional – not doing so could cost you far more than you will pay in fees.