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Launch of money management training programme in the East of England

4 December 2009

A unique project to help people improve their financial skills and get them back into work has received a £400,000 European funding boost through the East of England Development Agency (EEDA).

Officially launched today (4 December) the project will particularly target people who are out of work. It will also signpost them to job search and other employment support.
 
The East of England Financial Capability and Inclusion Project will be led by Citizens Advice and is funded through EEDA’s European Social Fund (ESF) programme

Available throughout 2010, sessions will assist at least 800 individuals who face barriers to getting back into the workplace. The project will also train 400 front line workers so they can assist their clients with budgeting and point people to where they can get help dealing with debt.
 
Sessions will be delivered in targeted areas across the region by a range of providers including Housing Associations, Credit Unions and Citizens Advice Bureaux. Sessions aim to boost individuals’ confidence in managing their money and their chances of getting into paid employment.

Sheila Childerhouse, EEDA board member and deputy chair said:
 
“Skills and attitudes towards money management are important in every aspect of people’s lives, especially in these tough economic times. This project will develop the financial capability skills of vulnerable people in the region and help them participate more fully and actively in the regional economy. It will also help train front line staff to be more aware of the importance of financial capability and to assess which people might require extra help.”
 
Liz Stannard, Project Manager at Citizens Advice said:
 
“It is especially important during a recession that people have access to the relevant training and assistance to help them get back to work. Being able to manage your money with confidence and organise a budget are vital skills particularly when facing financial insecurity. We’re grateful that EEDA has chosen to fund this important project which will really make a difference in the East of England.”
 
Barbara Follett, Regional Minister for the East of England said:
 
"Managing your money can be challenging for everyone, but it can be even more difficult for people out of work. I welcome the launch of this project in the East of England as it will help both the unemployed and their support workers with everyday finance such as opening bank accounts and education on how to borrow money through credit unions rather than unscrupulous loan sharks."

Futher information on the project can be found here

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