Financial Inclusion and the

Moneyworks partnership

What is Financial Inclusion? The ability of an individual, household, or group to access appropriate financial services or products such as

Advice to manage financial problems Banking – basic bank accounts and cash pointsCredit – affordable loansSavings and InsuranceInformation about money management – learning to balance income and expenditure

What's the extent of Financial Exclusion in Brighton and Hove?

- 60% of residents who are financially excluded live in social housing- Over 25% of residents live in private rented housing – almost double the national average. Private tenants on a low or erratic income face high rents and are vulnerable to changes in Housing Benefit- 20% of children in Brighton & Hove live in poverty, and three quarters of them live in a lone parent household- Fuel poverty is higher than the national average- Unemployment is higher than the South East average, as is the rate of claims for out of work benefits

Why does Financial Inclusion matter?

Health - physical and mental health problems such as heart disease, diabetes and depression

Housing – loss of rental revenue due to welfare reform and increase in homeless applications . Pressure on social

housing is high, and the rising demand is not currently matched by supply

Businesses - less disposable income to take part in leisure and cultural activities

Voluntary sector - increased demand on already streamlines services

Moneyworks provides a seamless ‘wraparound’ service to ensure that,

“Brighton & Hove residents are able to maintain and improve their financial wellbeing and resilience.”

What’s new about Moneyworks? Single point of contact for advice via helplineCommunity hubs to extend their offer to cover new courses and workshops about money managementStreamlined cross-referral pathway – single point of entry for clientBuilding capacity in neighbourhoods via peer to peer support – training residents to become Moneyworks ChampionsTrain frontline workers across sectors to engage people around financial wellbeing and use Moneyworks web page as source of informationCo-ordination of making partnership sustainable through diverse sources of funding and income

Any questions?

Please contact Emily Ballantyne Moneyworks Co-ordinator

emily.ballantyne@brightonhovecab.org.uk

07483 168370