The coalition Government is rolling out an annual family financial health check as part of its new national financial advice service.
Today's emergency Budget unveiled plans to introduce the scheme in spring 2011, with the newly-established Consumer Financial Education Body (CFEB) responsible for its development and delivery.
The financial health check will build on Moneymadeclear, the CFEB's national money guidance scheme and financial information service.
CFEB CEO Tony Hobman says: "I am delighted the Government has asked the Consumer Financial Education Body to develop an annual family financial health check.
"Work will now start to build the new health check, and agree how it will be delivered to consumers, to help them manage their finances better."
A Treasury spokesperson said details on the financial health check scheme are yet to be clarified but said it will be an "interactive concept to help consumers manage their finances better".
The CFEB launched in April as an independent body tasked with providing free, impartial advice on day-to-day finances.
It is funded by an FSA fee levy consisting of a £10 fee with a variable fee based on size of firm.
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