1625 Independent People's "Money Tree
" project has been awarded £34,812 from NatWest Skills and Opportunities Fund
to deliver money skills sessions to hundreds of young people in Bristol and South Glos.
A Money Tree Coordinator will train volunteers to work alongside our support staff providing practical support and informal education around money matters e.g. opening bank accounts, switching energy providers, working out realistic budgets and applying for grants.
Nigel Burden, Relationship Manager, NatWest and some of the 1625ip team
Fran Hughes, Alex Green, Amy Martin, Jo Lea-Jones, Josh Seddon, Alison Hancock,
Ria Anderson, Thomas Dunn, Tia Psihogios and Melanie Lavin.
1625ip was shortlisted down to one of 16 from 165 projects in the region, which were then open to a public vote. Five organisations were chosen to benefit from a share of the £1.25m fund which supports organisations that improve the financial education of people in disavantaged communities to help them manage their personal finances more effectively.
1625 Independent People in Bristol
Faithworks Wessex in Bournemouth
Somerset Youth Volunteering Network in Glastonbury
No Limits (South) in Southampton
Smart Savings CIC in Redruth, Cornwall
Oliver Watts, Chairman of NatWest's South West and Wales Regional Board, said:
“It was a challenging decision because of the standard of entries we received. But the panel felt that all of the organisations would make a massive impact in their local communities.
Our congratulations and best wishes go to them all and I’d encourage anyone who wasn’t successful this time to try again when applications open in August for the next round.”
Jamie Gill, 1625ip Partnerships Director, said:
“The Money Tree project is about young homeless people taking control of what little money they have. Young people so often tell us they need much more support around money and this project provides us with a sustainable way of doing that. We’re really looking forward to training a group of community volunteers to help young people develop financial confidence with these life-changing skills. We’d like to say a huge thank you to NatWest and everyone who voted for us!”
Why is Money Tree needed?
Young people in Bristol have high levels of rent arrears, with the majority of court action/evictions relating to arrears. As a result many of our service users experience repeat homelessness. The majority have an assessed need for money management skills.
"Young people report little interest, benefit or innovation in financial products.
17% social housing tenants have no bank account, 81% no savings account, 91% no insurance. Young people often lack basic understanding of financial terms and are unable to make informed choices - a vulnerability they themselves don't perceive." (Consumer Financial Education Body, 2010).
Download the NatWest Regional Press Release
1625 Independent People is a voluntary, not-for-profit organisation and relies on donations and support from the public and private sector. Help us maintain this crucial service for young people - there are many ways to get involved. Find out more about supporting us
Pilar Garcia, Funding and Communication Manager
Tel: 0117 317 8800 / 07956 306 492