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Money Ready (formerly MyBnk) are the UK’s largest financial education charity dedicated to this work. We’ve partnered with them to help vulnerable young adults in Essex get the skills they need to build better financial futures for themselves.
Only 29% of care leavers in Essex are living independently compared with 35% nationally. 87% of them say they can’t manage money, open bank accounts or deal with bills.
Without the right skills, often through no fault of their own, these young people are poorly equipped to manage their own lives and money successfully. That’s why we have partnered with Money Ready to bring their training to Essex for the first time; to care leavers – those leaving foster care or care homes - and people not in education, employment or training (NEETs). We have pledged £200,000 to Money Ready over two years.
In the last 4 years the number of care leavers facing homelessness has increased by over 50%. But with the right tools, we can help them flourish and build better financial futures for themselves and their communities. We call it: Building society for years to come.
• £200,000 of funding for training over 2 years
• 10 x grants up to £100 to fund educational materials or vocational tools
• Facilities to host training
• Staff volunteering
• Staff fundraising
Using our funding, Money Ready have been able to hire dedicated staff and have started to deliver vital training facilitated via partners including: Youth Justice Chelmsford, The Outhouse, and Changing Lives Community Service Harlow.
Money Ready CEO Leon Ward commented 'Our partnership with Saffron has helped us take Money Ready to Essex to empower young people there with the knowledge and skills they need to make informed financial decisions, contributing to our mission to create a financially fluent population.'
Our vision at Saffron is simple, it is for everyone to have the support they need to build better financial futures for themselves. This activity focuses on offering that to some of the most vulnerable young groups in our Essex community;
care leavers, people from troubled families, overcoming trauma or mental health issues. Here we pledge to support them as they start their adult lives. This vision is captured in-full in our manifesto. Click below for our manifesto.
The fundraising efforts from our colleagues so far has been phenomenal. The final totals include match funding from Saffron to make our colleagues fundraising go further.
In September last year, 18 riders took to the Cambridgeshire hills taking part in our annual 100 mile Tour de Saffron. They were supported by colleagues in the head office on static bikes, in total they raised £1,900. Planning is currently underway for our 2025 ride.
Last October, seven Saffron colleagues took part in the London Royal Parks Half Marathon, raising a further £3,249.
Thank you to all of our Members who contributed.
At the beginning of 2025 our colleagues took part in a fundraising challenge alongside Money Ready’s other corporate partners and raised 2,262.50. This brings our total up to over £7,000 - something we’re very proud of.
Charities rely on our support, not only from funding like ours but people like you too. A little can go a long way. There are three ways you can help.
• If you have a group of young people who would benefit from a Money Ready programme, you can find out more about how to apply by emailing Vicky.Cutbush@moneyready.org
• If you would like to donate directly to Money Ready, you can do so by clicking on the button below
• If you would like to support our fundraising efforts, you can find out more on our Facebook page @SaffronBuildingSociety
