Demand for online money help shoots up by more than a third since new year
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THE demand for online money help has surged by 34 per cent in the first week of 2024, the Money and Pensions Service (MaPS) has confirmed.
The organisation, which is an arms-length body, sponsored by the Department for Work and Pensions, has revealed that total visits to MoneyHelper’s Money Troubles pages hit 10,187 in the first week of January this year, rising from 7625 during the week up to Christmas Eve.
January 1-7 also saw 8924 individuals log on to the section, an increase of 37 per cent compared to December 17-24, while pageviews almost doubled (48 per cent) to 20,027 during that time.
MoneyHelper, an impartial service backed by the government, offers free help and guidance to anyone who needs it on a vast range of financial topics, including information, guides and tools as part of its Money Troubles section.
The most popular page visited in that area was its debt advice locator tool, followed by ‘Dealing with Debt’ and ‘Help with the Cost of Living’.
There were also increases in the usage of ‘Emergency Help with Money and Food’ and ‘Dealing with County Court Judgements (CCJs)’.
The most popular search terms during this period included 'scams', 'debt relief order' and 'bankruptcy'. Breathing Space, a scheme designed to give people time legal protections while they get debt advice, also featured prominently.
The rise in demand looks set to continue well into 2024. When compared to the two weeks leading up to Christmas Eve, the first two weeks of January saw a 23 per cent increase in visits, up to 21,466 from 17,452.
In addition, there was a 25 per cent increase in total visitors and a 34 per cent rise in page views.
In response, MaPS says it is well-set to meet the rising demand and is urging people to log on and find the help they need.
Charlotte Jackson, Head of Guidance Services at the Money and Pensions Service, said: “People up and down the country are set to face some difficult times this year.
"As these figures show, for many these have already begun.
“When things get tough, we all need to know there’s somewhere to turn. If you’re worried you can’t make ends meet, your debts are starting to spiral or you need help with important money decisions, we offer that first port of call.
“Our free MoneyHelper service offers in-depth guides, dedicated tools and information on specialist help so you can get the support you need quickly.
“Money troubles negatively affect your life in lots of ways, but the solution begins with that initial step. I’d urge anyone who’s in difficulty to start that journey today.”
For free, impartial help and guidance on money and pensions visit www.moneyhelper.org.uk or phone 0800 138 7777.
