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'I've kept my mouth shut about the Money Advice Service, but...' blog discussion

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'I've kept my mouth shut about the Money Advice Service, but...' blog discussion

24 replies 4.4K views
This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.




Please click 'post reply' to discuss below.
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  • SwipernoSwipingSwipernoSwiping Forumite
    748 posts
    Tenth Anniversary Combo Breaker
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    :TNeeded to be done. :T
    As for those that work within the scheme... Diplomatic! Good Grief how very 'English'. No wonder folk don't vote any more.

    By not saying what needed to be said it's wasted so much money.
    By not doing what needed to be done it's wasted so much time!

    Pity there are not more straight talking people around, more might get done in as oppose to keeping face.
  • fermifermi Forumite
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    I saw an advertisement/promotion on the TV the other day for the MAS website.

    The other people watching it thought it was just a bad advert for one of the dreadful commercial debt management/solutions companies, and honestly if I hadn't known better I would probably have thought so as well. :(
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  • Debt_Free_ChickDebt_Free_Chick Forumite
    13.3K posts
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    Martin

    It's worse than you think!!

    MAS is, as you know, getting the levy that the FSA used to have to fund Consumer Education. The FSA used donate some of that to PFEG, rather than attempt to re-invent the wheel and try to do better than PFEG.

    Now that MAS has those funds it's given .......... zilch, zero, absolutely NOTHING to PFEG. Instead, it's spending £20m on a TV advertising campaign to promote a web-based service. Shocking - truly shocking.
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
  • wanchai_2wanchai_2 Forumite
    3K posts
    Well said Martin! You tell them :)
    7 Feb 2012: 10st7lbs :( 14 Feb: 10st4.5lbs :D 21 Feb: 10st4lbs * 1 March: 10st2.5lbs :j13 March: 10st3lbs (post-holiday) :o 30 March: 10st1.5lbs :D 4 April: 10st0.75lbs * 6 April: 9st13.5 lbs :) 27 April 9st12.5lbs * 16 May 9st12lbs * 11 June 9st11lbs * 15 June 9st9.5lbs * 20 June 9st8.5lbs :D 27 June 9st8lbs * 1 July 9st7lbs * 7 July 9st6.5lbs :D
  • kingstreetkingstreet Forumite
    36.4K posts
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    Martin

    It's worse than you think!!

    MAS is, as you know, getting the levy that the FSA used to have to fund Consumer Education. The FSA used donate some of that to PFEG, rather than attempt to re-invent the wheel and try to do better than PFEG.

    Now that MAS has those funds it's given .......... zilch, zero, absolutely NOTHING to PFEG. Instead, it's spending £20m on a TV advertising campaign to promote a web-based service. Shocking - truly shocking.
    So it's not public money going to waste. It's levies paid by firms in the Financial Services industry. We get no say in what we have to pay and where the money is spent. This is a missed opportunity in my view.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Debt_Free_ChickDebt_Free_Chick Forumite
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    kingstreet wrote: »
    So it's not public money going to waste. It's levies paid by firms in the Financial Services industry.

    Some would say it is public money, as any costs that a business has get passed on to consumers in the pricing of their products/services.
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
  • kingstreetkingstreet Forumite
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    I always thought the definition of "public money" was money raised from taxation and administered by a central or local government body?

    A levy on companies operating in the financial services industry doesn't meet my definition, but TBH it was a fairly minor point and on the substantive issue - that MAS is wasting money, regardless of the source, was one on which I was agreeing with you.

    :D
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • corbyboycorbyboy Forumite
    1.2K posts
    Part of the Furniture
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    The Money Advice Service website is basically a waste of time. Their "health check" tool is a total joke.

    It asks are you saving. You say no. It says you need to start saving.

    It asks have you written a will. You say no. It says you need to write a will.

    Is this really supposed to be helpful to anybody?
  • oldvicaroldvicar Forumite
    1.1K posts
    I saw the TV advert for MAS the other day. What I remember about it is:

    a) the advert seemed childish in the extreme

    b) I was appalled to think my taxes might be paying for such rubbish [as noted above its a levy on firms not taxes, but I'm still appalled]
  • CFCCFC
    3.1K posts
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    It's a waste of good pixels.
    Really though it's just another 'empire' created by someone who's doing well out of it in one way or another.
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