At Saffron Building Society, we believe financial wellbeing is the foundation for stronger communities. Beyond mortgages and savings, we want to provide support where it is most needed. We worked closely with our members and colleagues to identify Money Ready as our charity partner and felt they offered the opportunity to break from traditional forms of financial education. Money Ready is a leading financial education charity and we have committed to investing more than £200,000 to support vulnerable young people in Essex, helping them build brighter, more confident futures.

The transition to adulthood for young people can be overwhelming. For care leavers and those not in  education, employment or training (NEET), these challenges are magnified. In Essex, just 20% of care leavers live independently, the national average for young people is 27%. Even more concerning, 67% of care-experienced young people across the UK are anxious about their financial situation and 80%  want more help managing their finances. Without support many are at risk of financial instability,  housing insecurity and regularly paying the poverty premium.

Our funding enables Money Ready to deliver vital training through local partners in Essex.

Together we are providing:

• Practical financial skills training to help young people manage realworld costs.
• Small grants of up to £100 to help participants purchase items that support education or employment.
• Community events such as Mini Money Masters, where young people can attend and learn money skills in a fun and accessible way.
• Volunteering and fundraising opportunities. We recently held the Tour de Saffron, and Saffron colleagues are taking part in the Royal Parks Half Marathon in October.

The partnership’s impact is being felt throughout Essex. After taking part in a Money Ready  programme:

• 94% felt they’d improved their knowledge about money
• 89% had greater confidence managing money
• 87% would manage their money differently

One of Money Ready’s delivery partners in Colchester said:

“The content has highlighted significant gaps or misunderstandings [in] student’s awareness of finances, and this highlights how important the sessions are for young people.”

By equipping young people with the skills they need to manage money effectively, we hope to reduce  the risk of debt, homelessness and exclusion, while building stronger and more resilient communities across Essex.

The stories from participants demonstrate the programme’s value beyond money lessons. One participant shared:

“Money Ready helped me focus my mind and deal with the hardships and some of the confusion I have in my life.”

This highlights that the benefits go beyond money lessons, they touch on self-confidence, resilience and how to make informed choices. This reflects our mission as a mutual organisation, to invest in people, not just products.

The partnership has focussed on scaling delivery, deepening its impact and ensuring sustainable change.

Success isn’t just measured by young people trained or money raised, but in lives transformed. In the first year alone Money Ready delivered training to over 200 young people over the course of almost 300 hours. That’s 200 more young people managing money with confidence, feeling empowered to live independently and hopefully living with greater financial resilience.

At Saffron, we’re exploring ways to deepen our relationship with Money Ready and do more to support care leavers. We believe that by supporting and working with Money Ready, we’re not only teaching  financial education, we’re investing in the long-term wellbeing of our communities in Essex. 

To find out more, visit: Saffron Building Society - Money Ready partnership and www.moneyready.org

This article was first published in Society Matters magazine.