By Marcus Leach

UK consumers will, as of Wednesday, be able to check their financial health within ten minutes with a new, updated online service that is being launched.

The site, 'Money Advice Service', is a government backed initiative which is funded by a levy on the financial services industry, and is a free and unbiased service.

The financial health check is based around a series of multiple choice questions on personal budgets. Once the results are calculated it produces an action plan and offers links to various advice groups.

According to the Money Advice Service millions of people worry about their finances and day-to-day budgeting and need some direction and help.

"This is the money-equivalent of a reliable sat-nav. We help people to see where they are now, and then we help them get from A to B by the best route for them," said Gerard Lemos, chairman of the Money Advice Service.

"Most importantly, our advice is free and unbiased and we will not sell them anything.

"Our new online healthcheck is designed with your attitudes to money and your aspirations for life in mind. In less than 10 minutes the healthcheck identifies the top three things you and your family can do to make the most of your money right now, and to plan for future goals."

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