The Money House
A directly delivered and accredited financial literacy programme aimed at preventing youth homelessness – Taking referrals on a continuous basis – Based in London, Glasgow and Birmingham
Format
Courses delivered during daytime both in person and virtually
Target Group
16-25 year olds in challenging circumstances
Group Size
5 – 10 young people
The Money House London has 4 locations: Woolwich Dockyard, Canning Town, Kilburn High Road & Seven Sisters.
Course format: 5 days (onsite), 4 days (online) or 1-day option (online and onsite) available to those in full-time employment.
Attendees can receive a qualification in Personal Money Management and Entry into Work Employability module from SEG.
To refer a young person, please email TheMoneyHouse@mybnk.org. If you are a young person you can also refer yourself to the course.
The Glasgow Money House is located on Hope Street.
Attendees can receive an SCQF Level 4 qualification in Personal Money Management, credit rated by SQA.
Course format: 5 days (onsite), 4 days (onsite and online) & 3-day courses (onsite) available.
To refer a young person, please email TMHScotland@mybnk.org. If you are a young person you can also refer yourself to the course.
The Birmingham Money House is located in Digbeth.
Attendees can receive a qualification in Personal Money Management and Entry into Work Employability module from SEG.
Course format: 5 days (onsite), 4 days (onsite and online) & 3-day courses (onsite) available.
To refer a young person, please email TMHMidlands@mybnk.org. If you are a young person you can also refer yourself to the course.
Content
The Money House helps young people in, or about to move into, independent housing manage their money and maintain their tenancy. Participants gain practical, financial and digital skills to help them pay their rent on time, keep up with bills and budget their living costs. We explain how they can make informed choices about their future and teach them how to best manage their money, to prevent homelessness.
Sessions take place in a kitted out flat where our trainers teach real life skills for the real world. At The Money House there are no lectures or classroom environments. Interactive games and activities involve young people in every aspect of their learning. Our trainers are enthusiastic and empathetic, and it shows in the feedback we get from the young people who attend.
A virtual version is also available.
To sign up to an Introduction meeting where you can learn more about The Money House and hear from one of our Trainers, please click here.
We cover:
- Tenancy agreements – rights & responsibilities and cost of moving in
- Avoiding eviction – paying household bills and rent on time
- Banking – accounts, saving, credit cards and how to borrow safely
- Budgeting and spending habits – consumer rights
- Benefits – entitlements & Universal Credit
- Energy Efficiency – coping with rising living costs
Impact:
- 32% reduction in young people failing to keep up with priority payments
- Up to £2.92 social value for every £1 spent
- Less than 1% of attendees have faced eviction
Eligibility
16–25-year-olds that could benefit from financial knowledge and skills, and how to maintain current or future tenancies (e.g. care leavers/other young people in challenging circumstances)
Additional info:
- Group bookings can also be made, either we come to you or your group can come to our site
- Travel and lunch is covered for each participant when onsite, or they are given a supermarket voucher for each day they attend online (upon completion)
- There is no cost for individual referrers, charities or young people who want to refer or take part in The Money House – we are already kindly funded by our corporate partners:
Case Studies
From opening a first bank account and trading in real markets, to moving out of care and into independent living, MyBnk’s financial education workshops pack a BIG punch!
“It set me on a path” – A teen's journey from bedsits to independence
"Small habits cost big" - Leaving Care
"It’s Making me Confident" - Becoming Independent
Impact After This Programme
54
Young people saving
35
Are now budgeting
3
Now have a current account
The Money House Team
“Beware of little expenses. A small leak will sink a great ship.” – Benjamin Franklin
"A fool and their money is soon parted".
"I want young people to understand things like APR as much as they understand LOL".
"Better spend an extra hundred or two on your son's education, than leave it him in your will." ~ The Mill on the Floss by George Eliot
Do the best you can until you know better. Then when you know better, do better – Maya Angelou
"Take care of the pennies and the pounds take care of themselves!"
"Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you”. [Maya Angelou]
"MyBnk is more than just a job. It's a lifestyle!"
"A wise man once said the best thing money can buy is financial freedom".
“Spend your money on the things money can buy. Spend your time on the things money can’t buy.” - Haruki Murakami
"If you want to be wealthy, think of saving as well as getting".
“ The same way every acorn has the essence of a tree, you have the essence of success".
