The Money House is an exceptional and creative project that takes young people at risk for eviction and homelessness and educates them in personal finance, preparing them for independence.
Designed to help people who are vulnerable, in need of high levels of support and not used to traditional learning environments, The Money House makes its students feel more at home by conducting lessons in a real flat.
The project centres on a 5 day course and a 1 day course, aimed at different groups of individuals according to the level of their need. So far, 173 Young Adults categorised as ‘most in need’ have graduated from the 5 day course.
The course covers a range of financial topics from advice on dealing with budgets, debts and bills to education about financial products and tenancies. It also teaches the learners to prioritise bills and how to seek help before they get in too deep. Those who have completed the course are prioritised in tenancy bids.
The training has been considered very useful by its participants and 100 per cent of those asked said that they would recommend the course to other young adults.
A learner said: “Since doing the Money House Project I have now been living independently a year and I have also got myself an apprenticeship. The project built my confidence much more than I thought it would and I will be forever grateful for that.”
Impact on rents have been significant with graduates 3 times less likely to be in arrears of over £500 than non-graduates of the same age.
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