Improving Financial Confidence: The Financial Capability Hub
The Financial Capability Hub is a five-year project funded by the Big Lottery Fund and works in partnership with Housing Associations, Registered Social Landlords, pre-tenancy housing support agencies, Citizens Advice Bureaux and other advice agencies across Liverpool to support tenants with managing their money.
Tenants are supported by Financial Capability Volunteers who are fully trained in Understanding Personal Finance and offer money management support and guidance to tenants, including budgeting, using comparison websites to find the best deals and meeting essential expenditure. Volunteers are based in local Citizens Advice Bureaux and advice agencies across the city, although home visits may be arranged.
Support can be delivered to any tenant in the Local Authority area of Liverpool and, in particular, those who have taken on a tenancy for the first time. The Volunteer identifies priority needs and helps the tenant devise a simple action plan which can be followed up at regular intervals to suit the tenant. Volunteers are also trained to support particularly vulnerable clients including those with mental health issues, disabilities, people leaving prison and women escaping from domestic violence. Where people need additional support our volunteers can signpost to specialist agencies.
The Big Lottery Fund has invested £31.7 million in a total of 37 different Improving Financial Confidence (IFC projects) across England. Each project is delivered by a partnership including voluntary sector organisations, the local authority and social housing providers. The Improving Financial Confidence programme will be delivering innovative solutions to increase tenants' financial confidence and help them avoid becoming greatly in debt and risking eviction.
Get free, confidential and impartial support and guidance from a Financial Capability volunteer. They can help you with;
- Using an online benefit calculator to check your entitlement and get basic help with claims.
- Opening and running your Bank, Credit Union or Post Office account.
- Helping you make the most of your money by setting up an achievable budget.
- Allowing you to prepare for essential bills such as rent, council tax, gas, electric, water, phone & broadband, TV licence, insurances, food and furniture.
- Understand what bills need to be paid first.
- Awareness of the easiest and cheapest ways to pay your bills.
- Making sense of your online or paper bills.
- Using comparison websites to get cheaper deals on electricity and gas.
- Understanding how to read your meters.
- Understanding how different financial services and products work and getting the right ones to meet your needs such as credit cards, loans and savings accounts.
- Referrals to specialist advisors where appropriate, such as debt and benefits.
Don't let the pressure of financial worries build up, we can help you get back on the right track. To arrange an appointment with the Financial Capability Hub Click here