Thursday, 23 February 2017

Smart Savings

There are few things more demoralising than having debt problems and bailiffs at the door and I have always been interested in developing better ways to help people manage their finances and get back on an even keel.

Last week, I visited Smart Savings in Redruth. Smart Savings provides a range of social and financial inclusion services, including debt advice, money management training and employment skills training. They have helped over a hundred people over the last eighteen months or so and I met some of those who have benefited last week.

They now have plans for a new project aimed at helping young children from Redruth improve their numeracy skills. The "Numbers Nursery" project offers fun, forest school sessions which aim to help young children, aged between two and four, gain confidence in early year's maths and numeracy whilst being out in the fresh air, enjoying physical exercise, and also learning about the natural environment. The project will proactively support children in care, and socially excluded families on low incomes.

The outdoor maths sessions will take place on a weekly basis with activities including cooking on camp fires, learning about healthy eating, going on nature walks and treasure hunts, playing games, sowing vegetable and fruit seeds, building unique structures (e.g. dens, sand castles and moats, and mud pies), making forest and beach art, and enjoying free, healthy snacks and meals.

Smart savings is one of a number of good local projects that are helping local people with their finances.  Five years ago I became a member of the Kernow Credit Union. Unlike other lenders they don't judge people through credit agencies. Those who are in greatest need know that "subject to status" usually means "not you." With a credit union people earn their credibility. Those who save regularly each month can, after three months, borrow around three times the amount they have saved. Credit Unions are very common in other countries. In Ireland, around 60 percent of families are members and they are also common in countries like Australia. At a time when commercial banks have lost their way, credit unions are a reminder of what old fashioned, community based lending should be.

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