Scottish Youth Homelessness Charity partners with local Yorkshire Building Society branch to deliver financial training for young people.
A unique private and third sector partnership has taken place between Scottish youth homelessness charity Rock Trust, and Yorkshire Building Society Charitable Foundation and their Edinburgh branch.
At the beginning of 2021, Rock Trust received £750 from Yorkshire Building Society Charitable Foundation after being nominated by one of the Society’s customers for financial support. Since then, the charity and the YBS Edinburgh branch staff having been working together to create financial education learning materials and resources for young people aged 16 to 25 affected by homelessness.
The charitable donation of £750 will support up to 15 young people in Rock Trust’s services to take part in a six week-long project where they will have the opportunity to learn financial responsibility and budgeting through interactive group learning sessions. Over the course of the six weeks, young people will be given two separate instalments of £25 supermarket vouchers to try out their new budgeting skills and feedback their experiences within group sessions. This partnership between Rock Trust and YBS local branch staff will also importantly allow young people to gain greater familiarity with financial institutions and will enable Rock Trust staff to provide tailored financial advice in the future.
As one of Scotland’s leading youth homelessness charities, Rock Trust is committed to ending youth homelessness by making sure every young person has access to expert, youth-specific services to help them avoid, survive and move on from homelessness. Since the start of the pandemic, the charity has seen a 98% increase in on-going support required from young people at risk of or experiencing homelessness. This, along with young people being some of the hardest hit by the pandemic such as a surge in Universal credit, furlough, and unemployment rates, demonstrates the need for and importance of this type of partnership and financial training.
Andy Murdoch, Services Manager at Rock Trust said: “We are so thankful for the fantastic support that Yorkshire Building Society is providing with Rock Trust’s new financial wellbeing project for young people at risk of homelessness. This new group session will allow young people who use our services to build the necessary confidence and skills with managing their finances so that they can make a healthy transition into adulthood.”
Sharon Stirling, Branch Manager of Yorkshire Building Society in Edinburgh, said: “It was great to be able to support Rock Trust in creating and delivering the virtual ‘Money Talks’ financial budgeting sessions. At the end of each session each youth participating receives a £25 supermarket voucher funded from money from the Charitable Foundation donation. They will then put their newly acquired skills into practice. The second session will continue with further budgeting tips and a subsequent £25 voucher given.”