Government wants to improve Finns’ economic know-how

A new initiative to help people early, before they get too much into debt, is being launched by the Ministry of Justice.

File image of money / Credit: iStock

Do you feel like you understand how money and the economy works?

The government is looking for new solutions on how to minimize the risk of people getting deep into debt.

The Ministry of Justice announced on Wednesday a new initiative to improve financial know-how and boost help for people who find themselves over-indebted.

“One key way to reduce over-indebtedness is to strengthen financial and debt advice” says Anna-Maja Henriksson (SFP) Finland’s Minister of Justice.

“Improving citizens’ economic management and addressing debt problems will affect overall well-being. The right advice at the right time will give the best result” Henriksson says.

The Government’s intention is to be able to offer early stage financial advice for people facing financial challenges in their lives.

The Ministry’s philosophy is that proactive financial support is the key to preventing or reducing indebtedness.

The new scheme will also help create better links between social services and financial and debt counselling services.