MyBnk, a leading financial education charity, is one of the Foundation's newest Strategic Partners.
Their programme, The Money House, delivers crucial financial training to 16-25 year olds leaving the care system - arming them with the skills to live independently. Sadly, care leavers face a higher risk of unemployment and homelessness and are more likely to come into contact with the criminal justice system than their peers. 20% of care leavers experience homelessness within two years of leaving care.
The Money House intervenes at a crucial point of transition. Led by MyBnk's expert trainers, the one, or five day course, uses realistic scenarios and activities that mimic the life-like pressures of dealing with multiple bills and conflicting demands. By brining financial education to life in a real flat, they boost young people's financial confidence to take control.
Starting life in 2012 as a Big Lottery funded project and developed by the Hyde Group with MyBnk as consultants, the programme reached almost 600 young vulnerable people.
MyBnk, took over The Money House in January 2017, as part of a collaboration with JP Morgan Chase, the Hyde Group and the Berkeley Foundation. Over two years, the programme is expected to reach over 800 young people who are either about to become social housing tenants or already live in a socially rented home.
Of the 63 young people who completed The Money House and were housed by the Royal Borough of Greenwich, none have been evicted. Eviction rates for this age group in Greenwich can be as high as 12% - programmes like this really can help reduce homelessness.