The Money Advice Service
Free and impartial money advice, set up by government
The Money Advice Service helps people manage their money. We do this directly through our own free and impartial advice service. We also work in partnership with other organisations to help people make the most of their money. We are an independent service, set up by government.
Supporting people’s money management
Our service is available 24 hours a day via our website and six days a week by telephone on 0800 138 7777 (calls are free).
Anyone can use our service and we provide guidance across a wide range of money matters, including a number of useful tools and calculators to help people manage their money. Our focus is on supporting people who can benefit the most from our help or who are going through significant life events – such as saving for a home, dealing with the breakdown of a long-term relationship, or starting a family.
We also work with a wide range of other organisations to make our content available to their customers, clients, members, followers or employees. This includes producing and distributing a number of printed guides on specific subjects, which are also available for download on our website.
Helping people tackle problem debt
We aim to help people avoid getting into unmanageable debt but, for those who do, we fund the provision of free, high-quality debt advice, delivered by our partners across the UK. The Money Advice Service is the largest single funder of debt advice in the UK.
We are also responsible for driving higher-quality and more consistent debt advice services across the UK – including those we do not fund directly. Our aim is to make sure people get the help they need to deal with their creditors and reduce their debt, and also the support to manage their money and build their financial resilience so they are less likely to get into difficulties.
You can find more information about our debt advice work here.
Driving improved financial capability
Financial capability is vital to people’s lives, helping them manage life’s financial ups and downs and prepare for the future.
As the statutory body responsible for enhancing public understanding of financial matters, the Money Advice Service has led the work of a wide range of organisations across the public, private and voluntary sectors to develop a new Financial Capability Strategy for the UK.
The Strategy sets out a ten-year plan to address not just people’s skills and knowledge around money management but also the attitudes and motivations that hold them back, and their access to products and services.
For more information about the Strategy, and the work we and others are doing to put it into effect, please visit fincap.org.uk.
The Money Advice Service (MAS) is required to be economic and effective in using its resources. The Procurement Department is a team of professional purchasing staff, who ensure that value for money is obtained for all expenditure.
Public Procurement Regulations
The Money Advice Service is a Contracting Authority under the Public Contract Regulations 2015. Accordingly, all contracts for relevant services in excess of the values below are subject to the EU Procurement Directives:
- £164,176 (for supplies and services) and £4,104,394 (for works).
Where required by the above directives, upcoming Money Advice Service contracts are advertised in the Tenders Electronic Daily (TED), which is a supplement to the Official Journal of the European Union (OJEU). In some cases the MAS also issues Prior Information Notices (PINs), which describe contracts that will be formally advertised in the near future.
In addition to the various Procurement procedures under the EU Directives, the MAS may also use alternative routes to market, including Framework Agreements (both pan-government and MAS-tendered agreements).
We use an e-Sourcing portal which is carried out via the MAS eTendering portal.
We have processes in place for sourcing and selecting suppliers for goods, services and work we need to be carried out. We identify suppliers from a number of sources, depending on the value and complexity of the procurement. These include:
- the Official Journal of the European Union (OJEU);
- framework agreements set up by the Crown Commercial Service or other public sector frameworks;
- the contracts finder website https://www.gov.uk/contracts-finder
- researching internal supplier databases;
- consulting with the sponsor of the tender and/or users;
- consulting trade journals and business directories; and
- contacting professional associations.
Who to contact