Residents banking on a little help

Published by philmc7 for Knowsley Housing Trust in Housing

Knowsley Housing Trust (KHT) is taking steps to make sure its residents are not being baffled by their banks.

KHT will be encouraging its residents to take part in informal money skills sessions where they will be taught how to look after their finances.

The sessions will provide friendly information and advice, aimed at 16 to 25 year olds but applying to anyone who feels financially excluded. The sessions will be led by experts from the West Yorkshire Trading Standards and Barclays, and will cover a range of financial services.

KHT will provide customers with taxis, and cover the cost of childcare for the duration of the sessions. Refreshments will also be provided.

Tenants will be able to participate in a game to improve the way they manage money. The game focuses on four key themes: budgeting, bank statements, loans, and credit reports.

KHT’s financial inclusion officer, Darren Reynolds said: “The idea of the course is to help people understand money in a fun and interactive way, with a view to helping them sustain their tenancy.”

Knowsley MP George Howarth said: “It's important that young people understand money issues, and it is great that the West Yorkshire Trading Standards and Barclays are working together to deliver money management skills.”

Mike Leyden, Knowsley’s chief trading standards officer said: “We believe that it is vital we help young people develop the knowledge and confidence to take a greater responsibility for their financial affairs, and to play a more active role in the financial services market”.

Rachel Herbinson, Barclays’ community investment manager for the North West said: “Our partnership with trading standards will ensure we equip young people with the skills and confidence to make sound financial choices, something which is at the heart of our community investment programme.”

The sessions will take place at Yates Court, Sewell Street, Prescot on September 24 from 12.30pm to 3.30m.