Introducing the Standard Financial Statement
The Standard Financial Statement (SFS) is a tool used to summarise a person's income and outgoings, along with any debts they owe. Primarily for people seeking debt advice, the SFS is mainly used by debt advice providers and other relevant organisations.
It provides a single format for financial statements, allowing the debt advice sector and creditors to work together to achieve the right outcomes for people struggling with their finances.
20th May 2019
Daniel Kelly, co-ordination and engagement manager at the Money and Pensions Service, describes the Standard Financial Statement and recent updates in household finances on The FinCap Blog.