The UK's Financial Services Authority has launched a new interactive Web-based service designed to help consumers learn the basics of personal finance online.
FSA Learn Online provides consumers with information on the different types of financial products available such as borrowing, insurance, saving, investments and pensions. The service also helps consumers to work out what they might need and offers advice about what questions to ask before buying a product.
The programme is designed to help consumers get to grips with the concepts underlying financial products and does not promote or compare named products, says the banking watchdog.
Deborah Arnott, FSA head of consumer education services says: "Our new resource, Learn Online, does not replace professional financial advice. The key objective is to help young people and adults become questioning and informed consumers of financial services and manage their finances effectively."