What is The Money House?
"Approximately 80% of tenants under 25 are in rent arrears, in Chesterfield and across the UK."
The Money House is open to anyone in Derbyshire aged 17-24 preparing to move from residential/foster care or from supported accommodation to fully independent living within the next 3 months or who have recently secured their first tenancy.
The project aims to increase financial confidence by taking part in a range of fun, interactive tasks that replicate some of the financial choices and decisions needed to maintain a tenancy and remain debt free. Learning happens through a process of practical activity, discussion, reiteration and repetition.
The non-residential programme takes place in a ‘real life’ flat in Chesterfield. It spans 5 days and covers the basics of budgeting, bills, banking, borrowing, benefits and beurocracy. Learners can achieve two AQA Awards at Entry Level.
The Money House was developed by Hyde Housing (a housing association in London) in partnership with MyBnk (financial education charity) and was a NIACE Learner Award Finalist in 2015. Money House London
RAD have now brought the project to Derbyshire.
There have been three successful pilots of The Money House in Chesterfield, Ripley and Swadlincote in partnership with Chesterfield Borough Council, DCC’s Leaving Care Team and South Derbyshire District Council. Referrals came from local floating support providers, supported accommodation units, Barnardos and DCC’s Children’s Services. The pilots gave the opportunity to test the model and further develop the programme so it works locally. 22 agencies worked on the projects to make them a success and there is now a lot of support for, and interest in, its development. To find out what young people on the pilot programmes thought of the project follow the link. Hayley and Katie talk about The Money House Chesterfield
The project will be taking referrals from September 2017. For full criteria see referral guidance below. If you know a young person that would benefit from this opportunity, or you would like more information, please contact Claire on 01629 592978 or email email@example.com.Go back to Financial Action & Advice Derbyshire
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