CAF Resilience charities

THE MONEY CHARITY

Financial capability charity strengthens its resilience by diversifying its income base.

About The Money Charity

The Money Charity provides early intervention training and support to help anyone, of any age, to manage their money. They provide information and tools to empower people to make the most of their money throughout their lives, to see money positively, as something that can help them achieve their goals.

This small charity has a wide reach – they delivered workshops to almost 23,000 young people last year; distributed 14,000 copies of the Student Money Manual; and influenced policymakers, the financial services industry, the media, and public attitudes towards money.

In common with many small charities, the CEO’s biggest fears are “always that they will not be able to diversify and increase funding in order to continue to keep the charity running”.

The work the charity does

The charity delivers its Money Workshops in numerous settings across the country, including schools, colleges, workplaces and other groups such as housing associations, prisons, homeless shelters and other community groups.

Young people whose parents have financial problems or find money issues stressful are most likely to have experienced family rows about finances, less likely to have observed healthy attitudes to money at home, so may be unprepared to manage money themselves, perpetuating the problem to the next generation. Reaching young people early means the charity can equip them with the skills and knowledge they need to manage their money well throughout their lives.

Adults can find talking about money difficult and often find budgeting and finance confusing and complicated. The charity provides them with the confidence and know how to start to tackle their finances and to make the most of their money for themselves and their families.

 

Money Charity Article photo

The Money Charity and CAF Resilience

In 2013, The Money Charity lost all of its core funding, leaving it in a potentially disastrous financial situation. However, significant support from an individual major donor created time and opportunity to meet the challenge of making the charity financially self-sufficient. The charity now needs to develop financial resilience in the long-term by diversifying income.

"It would be great to finish the programme in a more secure place, having diversified and increased funding enough to feel more resilient.”

The Money Charity has only just started the CAF Resilience programme and is currently exploring the potential for major donor fundraising as a route to diversifying income and strengthening its financial resilience.



Chief Executive of The Money Charity, Michelle Highman, speaks to us about taking part in the CAF Resilience programme.

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