29 Jul 2004

What is it?
A new financial education online resource from the EBS building society that aims to demystify the world of money management and personal finance. It forms a new section within the EBS website.

Who is it for?
Consumers who feel intimidated or inexperienced about money matters and want to get to grips with the basics. The EBS says it has developed the site as a result of feedback from its members and claims the content is totally objective and devoid of any EBS sales bumf.

What features does it contain?
The content is split into four main sections. How Money Works offers a layman’s guide to financial terms such as inflation. Where Are You Now? looks at the financial implications of life events such as marriage, house purchase and bereavement. What You Should Know gives useful tips and highlights the pitfalls of money management. Where Do You Want To Be focuses on long-term financial planning and retirement. There is also a comprehensive glossary of financial terms and a search facility.

How does it look?As with most sites developed by banks and financial services organisations, it is colourful and awash with ‘happy family’ imagery. It’s hard to argue with the layout, though, which is kept clean and simple.

The verdict?
It’s tempting to call this site: ‘Personal Finance for Dummies’ because much of the content assumes a very low level of financial knowledge. For this reason, it will have limited appeal for more money-savvy consumers who may simply want to fill in their knowledge of a particular area.

By Brian Skelly