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Published byMelina Lawrence Modified over 9 years ago
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Financial Inclusion and the Moneyworks partnership
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What is Financial Inclusion? The ability of an individual, household, or group to access appropriate financial services or products such as Advice to manage financial problems Banking – basic bank accounts and cash points Credit – affordable loans Savings and Insurance Information about money management – learning to balance income and expenditure
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What's the extent of Financial Exclusion in Brighton and Hove? - 60% of residents who are financially excluded live in social housing - Over 25% of residents live in private rented housing – almost double the national average. Private tenants on a low or erratic income face high rents and are vulnerable to changes in Housing Benefit - 20% of children in Brighton & Hove live in poverty, and three quarters of them live in a lone parent household - Fuel poverty is higher than the national average - Unemployment is higher than the South East average, as is the rate of claims for out of work benefits
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Why does Financial Inclusion matter? Health - physical and mental health problems such as heart disease, diabetes and depression Housing – loss of rental revenue due to welfare reform and increase in homeless applications. Pressure on social housing is high, and the rising demand is not currently matched by supply Businesses - less disposable income to take part in leisure and cultural activities Voluntary sector - increased demand on already streamlines services
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Moneyworks provides a seamless ‘wraparound’ service to ensure that, “Brighton & Hove residents are able to maintain and improve their financial wellbeing and resilience.”
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What’s new about Moneyworks? Single point of contact for advice via helpline Community hubs to extend their offer to cover new courses and workshops about money management Streamlined cross-referral pathway – single point of entry for client Building capacity in neighbourhoods via peer to peer support – training residents to become Moneyworks Champions Train frontline workers across sectors to engage people around financial wellbeing and use Moneyworks web page as source of information Co-ordination of making partnership sustainable through diverse sources of funding and income
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Any questions? Please contact Emily Ballantyne Moneyworks Co-ordinator emily.ballantyne@brightonhovecab.org.uk 07483 168370
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