The government’s free Money Advice Service offers some great loan calculators and other tools to help you manage your money

For most people, the question “what have the government ever done for you” might provoke a few unprintable answers! But one thing that’s been really useful is the free and independent Money Advice Service they set up in 2010, with the aim of helping people to improve their money management.

The website at has a wealth of really useful information on it, but one of the best features is its massive range of tools and calculators. Amongst them are handy calculators that help you to see the true cost of any borrowing you have or would like to have.

By using their loan calculator you can check not only how much interest you’ll pay over the course of your agreement, but what the effect would be of making larger or smaller payments, including how much you’ll save in interest if you pay more, or if your loan repayments run over a shorter term.

Other excellent tools include savings calculators, credit card calculators, a mortgage affordability tool and many more.

So whilst the politicians don’t often seem to get it right, the Money Advice Service is certainly one good thing they did for us!