MyBnk and supporters have scooped a prestigious award from Third Sector magazine for their youth homelessness prevention scheme, The Money House.
The Business Charity Award: Consortium, recognised an outstanding partnership between MyBnk, the Berkeley, L&Q and J.P. Morgan Chase Foundations and London councils.
TMH helps young people in, or about to move into housing, manage their money and remain independent.
Judges were wowed by the project’s scale and success at preventing youth homelessness, including a 64% drop in eviction rates, compared to young people in boroughs that do not offer the scheme. They were also impressed by its social value return of £3.36 for every £1 invested and saving housing providers hundreds of thousands of pounds.
It was success all round as our primary school collaboration with KickStart Money was shortlisted in the same category and the Berkeley Foundation won the Corporate Foundation Award.
Read all about it in Third Sector.
Participants gain practical financial and digital skills to pay their rent, bills and living costs whilst making informed choices about their future. Attendees can receive a Level 1 award in Money Management from ABC’s Entry Into Work Employability Module.
Sessions take place in a fully kitted out flat, not a classroom. 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.
At TMH there are no lectures. Interactive games and activities involve young people in every aspect of their learning. Our Education Officers are young, trained, tested and enthusiastic, and it shows in the feedback we get from all the young people who attend.
A big thank you to all our young people, funders, partners, youth workers, Trustees, Patrons and The Money House Team on a fantastic achievement!