3 Bs Money Skills - Quids in! Pro

Budgeting, Banking and Being online, (the 3 Bs), present the triple-threat for vulnerable claimants moving onto Universal Credit but also form a robust starting point for anyone wanting to improve their financial wellbeing. Quids in!, the money skills initiative at Clean Slate Training & Employment CIC, has devised a full interactive day-long programme to help people on low incomes explore ways to spend less, save more, borrow less and bring home more.

Learners explore their attitudes to money, their hopes and fears, set goals and develop an understanding of their rights. Talking together, they realise they are not alone and identify where to find help
Nobody is asked to share personal information, instead we invite them to help create a personalised edition of Quids in! magazine, for example reviewing and listing their top tips on the 3 Bs but also on spending wisely, building some savings, maximisng their income and fending off debt
It’s a uniquely interactive programme, as attendees become editor for the day, working up ‘cheap eats’ recipes, researching online calculators and playing agony aunt/uncle to offer advice to people like themselves

By the end of the session, learners have grown in confidence and understand the importance of self-advocacy, whether in a bank, Jobcentre Plus or a weekly payment store. They make a ‘public commitment’ to achieving a goal within three months (that we later ‘nudge’ them about by SMS) and set out their personal challenges they will address. From here, we signpost them to the right local and specialist support.

WHAT WE KNOW ABOUT LOW INCOME HOUSEHOLDS

Having celebrated its 10th anniversary in 2018, Quids in! has been there for low income households through the economic crash, recession, rocketing unemployment, austerity and welfare reform… and back into economic crisis. Quids in! research found that among low income households:

74% did not save for setbacks and just 30% had a savings account; 39% did not use a bank account at all
Just 67% had a PC at home and 11% said they had no access to the internet anywhere
Working age people not in full-time work said that on account of money worries: 48% skipped meals, 51% turned off heating despite being cold, 32% felt physically ill, 68% felt anxious, frightened or depressed

As part of Clean Slate’s aim to help people on low incomes become better off, Quids in! helps participants build their financial resilience. They leave with a determination to take control and prepare better for the future, whether that’s through building a savings buffer (or a Doomsday Cupboard), by taking action on debt or finding work.

BOOK A SESSION

3 Bs money skills sessions can be delivered anywhere in the UK by one of Quids in!’s facilitators by the day or commissioned as a rolling support service.