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A new approach to life skills

Imagine that you’re coming up to your eighteenth birthday, and will soon be leaving care, to become the tenant of your very first home.  Awesome! You think. You can finally get away. Do whatever you want.

It is an unfortunate fact that many people leaving the care and supported housing systems to take on their own tenancies, quickly slip into unmanageable debt, and often end up facing eviction.

The Money House (TMH) is a real flat in Greenwich. It is furnished with second-hand furniture. It uses real utilities and receives real bills. It’s a completely accurate likeness of a first home.

From here we deliver innovative, flexible programme of money management and financial confidence training. Young people take part in interactive learning experiences that simulate ‘living at home’. 

TMH came about by viewing the issue at hand through the eyes of the person it was designed for, and looking at resources available.

Imagining the learning in a situational setting allowed the idea to grow and flourish – the kitchen for cooking on a budget, the living room for prioritising bills, and the bedroom to face the financial impact of a life event such as pregnancy.

We offer two forms of free Financial Confidence Training

  • An AQA accredited 5 day (Monday – Friday) Money House training course. 
  • A 1 day Independent Living Money House training course aimed at those who have some experience of managing their own tenancy, but would benefit from additional support. 

Hyde Plus, in partnership with the Royal Borough of Greenwich, Greenwich CAB, Meridian Money Advice, and MyBnk and YMCA are delivering an innovative project, to help young residents in Greenwich cope better with their finances.

This award nominated training, funded by £1m of Big Lottery Fund money as part of the Improving Financial Confidence programme, started in April 2013 and focuses on giving young people the skills they need to live independently.

Topics covered include

  • Preparing a personal budget
  • Attitudes to money
  • Understanding bills
  • Household costs
  • Choosing utility providers
  • Tenants’ rights and responsibilities
  • Avoiding Eviction
  • Different types of benefits
  • Responsible borrowing
  • Accounts and savings

The Training

This interactive and fun training, which takes place in a real flat in Woolwich,  is far removed from the traditional classroom approach and is led by Trainers experienced in delivering to youths. We use flat to bring the training to life and  to give young people a realistic impression of what living independently is really like. Participants will be guided through how to read and understand real utility bills; electric meters; rent letters and tenancy agreements and will be given practical tips to help them maintain their tenancy. 

Want to know more?

This free training is open to all social housing tenants under 25 in Greenwich including young people in care and supported housing in that borough. A small amount of places are on offer to under 25s in neighbouring boroughs.

Read about our results since 2014.

Watch our video clip below to see what the Money House is about from a participant or visit our blog for the latest videos, blogs and tips. 

 

How to refer someone

To refer someone please consider the Referral Checklist below, complete and submit a referral form, and send to us.

For more information please e-mail themoneyhouse@hyde-housing.co.uk

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Visit our blog to find out what has been happening at The Money House and to see our tip of the month!

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