The purpose of the initiative is to engage with, and increase the financial awareness of excluded men and women, who are likely to be of British Pakistani and Bangladeshi origin and come from communities with strong cultural traditions of family and a cash society where money is 'pooled' to assist the individual with the greatest need.
They are in most need of financial awareness and of a better understanding of the possible options for affordable credit, building their own credit rating, safe savings and debt management.
They are also least likely to be included within mainstream society and formal institutions such as banks, and have low levels of consumer awareness about the services available.
Language is also a barrier and a perception that formal organisations do not cater for their needs.
The project is open to anyone who may be interested and particularly young people.
Key Features of the Project Are:
The production of a DVD entitled 'Money Matters' (view it below) which outlines the sources of help and support available for, affordable credit, bank accounts, financial advice and guidance, and access to safe savings. The DVD will be delivered through Asian cable TV, targeting a minimum of 20,000 people. It will also be available for use by community or public sector bodies.
We will deliver the project with other ethnic minority led, community partners in Leeds, Sheffield, Rotherham, Keighley and Bradford, holding 2 financial awareness seminars at each of the 5 venues with a minimum of 20 people attending each event. These will be delivered by an FSA regulated person with bilingual skills, who is an independent financial advisor.
Additional seminars will be held in Leicester, Newcastle, and Rochdale to an invited audience of 8 community organisations at each venue, with a view to building their capacity to help them, to help their communities, using the DVD and supplementary information and materials. These 24 organisations will reach a further 1200 people.
Individual face to face guidance will be made available to 50 people who require more support to tackle their individual issues which will be followed up through an agreed action plan.
Money Matters
Never over-commit yourself to credit or other outgoings.
Always seek Independent Financial Advice about your money.
Review your finances regularly.
Never hide from financial problems.
Plan for your financial future well in advance.
Take financial responsibility as early as possible.
Always know your incomings and outgoings.
Pay all your bills on time.
Talk to your lenders.
Keep an emergency fund for unexpected bills.
To find out more, why not watch our video alongside ...
The Now Let's Talk Money initiative is being funded by the Department of Work and Pensions.
The purpose of the initiative is to engage with, and increase the financial awareness of excluded men and women, who are likely to be of British Pakistani and Bangladeshi origin and come from communities with strong cultural traditions of family and a cash society where money is 'pooled' to assist the individual with the greatest need.