'We can support more young people before financial pressures spiral into crisis': Money Ready grows roots in Londonderry
Money Ready launches new trainer in the north west to help youth avoid debt and homelessness through practical financial education
A Belfast charity helping young people understand money so that they avoid debt and homelessness is expanding into Londonderry this month.
Money Ready, based at Innovation Factory in Belfast, is appointing a new trainer who will teach practical money management skills to people in the North West.
Offering a range of free programmes to help people understand how to budget and manage their money, Money Ready aims to work with those most at risk of financial hardship and homelessness.
Angela Hillan, Money Ready’s Northern Ireland manager, said: “Our aim is to reach those at greatest risk. They may be living in extremely challenging situations with little support, and many have simply never been taught about money, finance or contracts.
"By expanding into the north west, we can support more young people before financial pressures spiral into crisis.”
Money Ready’s work spans key financial milestones, from early childhood through to the average first-time house purchase age of 37 and beyond. Trainers are chosen for their ability to connect with young people and adults in a fun and engaging way, and all undergo extensive specialist training to enable them to deliver sessions to groups in a variety of settings.
Angela, who joined Money Ready after 14 years working as a secondary school teachers, believes schools alone cannot address the problem: “Financial Education has been on the curriculum for a number of years, but our young people are still leaving school with low confidence in money management. Schools don’t have the time or resources to go further, which is why we step in. This lack of confidence follows us into adulthood and at home, many parents don’t feel comfortable talking about money, especially earnings or tax, and that makes it difficult for children to learn.”
Thanks to support from the CISI (Chartered Institute for Securities and Investment) Foundation, the charity is able to expand into Derry, building on Money Ready’s recent growth since moving into Innovation Factory in Belfast earlier this year.
The charity has had the support of the team at Innovation Factory and Neil Allen, Innovation Manager at IF, explained: “We are delighted to see Money Ready growing and expanding into the North West. Their work is vital in giving young people the tools to manage their finances and avoid the devastating consequences of debt and homelessness.”
Angela added: “We’re excited to start this work in Derry/Londonderry and give young people the tools to build a secure financial future.”