Abstract
“Financial crisis and the Money Guidance Service: building consumer financial resilience” continues to explore the third edu-regulatory programme. Specifically, it pays particular attention to the activities and operations of the MAS. The chapter examines various forms and the content of financial advice materials provided to consumers by the MAS The suggestion is made that the MAS aims to build and strengthen consumer financial stability and ability to keep up with financial commitments. Drawing from social studies of finance, the chapter argues that the conceptualisation of household financial instability as embraced by the MAS is highly decontextualised and problematic. As such, its services are not targeted at all consumers but rather at those who are most likely to experience financial instabilities in their lives, and therefore, pose greater risks to effective and safe functioning of the global financial system. The chapter concludes by stating that the democratisation of financial knowledge through the provision of money guidance seeks not only to recruit people into financial markets (as demonstrated in previous chapters of the book) but to stabilise and discipline their financial behaviour once they have entered the market.
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Zokaityte, A. (2017). Financial Crisis and the Money Guidance Service: Building Consumer Financial Resilience. In: Financial Literacy Education. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-55017-6_7
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