![]() ![]() The programme was delivered to small groups (up to 10 participants), via one-day and five-day courses. The project was delivered in two London flats (one in Newham and one in Greenwich), and participants were referred from local authorities and other organisations in neighbouring boroughs. The aim of the programme was to equip young people with independent living skills, including financial capability training. The target group was young people, including care leavers and students, seeking social housing or who were new to private sector renting. MyBnk took over programme delivery in 2017. The programme was based on a model designed by MyBnk and Hyde Housing in 2012, which had supported over 600 participants by 2016. Every £1 spent on TMH generates £3.36 in social value.The Money House (TMH) project delivered financial capability training to young people aged 16-25.Landlords have reducing costs and securing more rent with fewer arrears.A 27% increase in confidence managing money, which exceeds the national average.A 22% increase in those borrowing safely, and therefore avoiding loan sharks.We see a 45% reduction in young people incurring bank charges and missing bills.Participants are three times less likely to have unsustainable arrears.Already a tenant or has expectations of a tenancy: Living in LA supported housing, LA temporary accommodation, bidding for own social housing tenancy, accessing support from LA to help them into private or social housing or moving into private housing independently.Housing: For those eligible for social housing, accessing housing support from their local authority (LA), or moving into independent living in the private rented sector.Signposting to relevant services that can assist young people further if required – StepChange ChangeGrowLive etc.Digital skills to help them navigate the financial maze and make the most of their money – Open Banking comparison websites changing utility providers etc.Extra support to understand benefit changes and implications – Universal Credit LHA Housing Benefit Cap.Benefits – Entitlements & Universal Credit.Tenancy agreements Rights & Responsibilities.Our Education Officers are young, trained, tested and enthusiastic, and it shows in the feedback we get from all the young people who attend. ![]() Interactive games and activities involve young people in every aspect of their learning. Our experts help them become more confident about money and living on their own by providing real-life skills in a unique setting that brings financial education to life and helps prevent homelessness.Īt TMH there are no lectures. ![]() It looks and feels like a typical flat that young people would aspire to live in when they get their own tenancy. Sessions take place in a fully kitted out flat, not a classroom. Attendees can receive a Level 1 award in Money Management from ABC’s Entry Into Work Employability Module. Participants gain practical financial and digital skills to pay their rent, bills and living costs whilst making informed choices about their future. ![]() The Money House (TMH) helps young people in, or about to move into housing, manage their money and remain independent. Money House is an accredited financial literacy programme aimed at preventing youth homelessness – Taking referrals on a continuous basis – Based in Greenwich, Newham and Westminster. ![]()
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