Manage your Money

Manage your Money

Managing our money is something that we all do, although most of us have never had any support with this and some of us struggle to make ends meet.

We can help you get your finances under control and make your money go further. 

Money management support at the Bromley by Bow Centre helps you to develop the skills to manage your money better today and to plan for the future through discussing and sharing ideas. Together we will explore ways to improve your financial capability.

The Bromley by Bow Centre has a strong track record of running money management projects over a number of years and further information on current and past projects is provided below.

Personal Budgeting Support

Need assistance with your household budget, or saving for a family holiday? Do you want to learn about opening the best bank account for you, get a better understanding of your income and outgoings, or do you simply want to learn new and creative ways to save money?  

If you are a Tower Hamlets resident, we can offer you a one-to-one personal budgeting session to help you manage your money in a way that works for you.

The sessions aim to address your own specific area of need, as well as general areas such as:

  • How to work out monthly income and outgoings
  • How to make your budget work for you
  • How to understand priority debt
  • How to set up a bank account and direct debits
  • A better understanding of Universal Credit
  • And how to better save money and cut unnecessary costs

This service is funded by the London Borough of Tower Hamlets until the end of March 2016. For more information on the support available, click here. Information for staff in Tower Hamlets is available here.

To book a session, contact us on these details:

e. Mokshuda.ali@bbbc.org.uk

t. 020 8709 9847

Empower

The Empower project aims to prevent and alleviate fuel poverty in Tower Hamlets. As part of this project, the Bromley by Bow Centre are:

  • Training local residents to be Energy Champions – developing skills in fuel poverty prevention and alleviation
  • Working with the Energy Champions to provide information and support to the community on how to save money on energy
  • Working with local social housing providers to improve the support available to residents

 If you are a resident of one of the above housing providers and may be interested in becoming an Energy Champion OR if you are a community group or organisation in Tower Hamlets and would be interested in the Empower team delivering a workshop with your clients on how to save money on energy and household costs, please contact us on the details below.

Jo Goodman, Empower Project Manager:

e. empower@bbbc.org.uk t. 020 8709 9757 / 07903 088971

Empower is funded by the British Gas Energy Trust as part of the national Healthy Homes programme. To find out more about the project and how to get involved, click here.

Other services

If you are an organisation seeking financial capability training for clients or staff please get in touch with Jo Goodman – e. joanna.goodman@bbbc.org.uk t. 07903 088971

Past projects

The Bromley by Bow Centre has delivered a number of money management and financial capability projects in recent years. More information on these is provided below.

Getting on with Money

The Getting on with Money project ran from February 2013 to February 2016 and was funded by the Big Lottery Fund as part of the Improving Financial Confidence programme. The project aimed to improve the financial health of social housing residents in Tower Hamlets. It did this in two ways:

  • Providing direct financial capability support to residents, on a group, workshop or one-to-one basis. This work particularly focused on those taking on a new tenancy or looking to move into work to support them to manage their money effectively through these transitions
  • Working with organisations to improve the support they offer. Over the three years of the project, we worked with over twenty housing providers and employment support organisations to assess and improve their practices through policy and procedure review, staff training and resource creation

There are a number of resources which have stemmed from this project which are available on the Financially Inclusive Tower Hamlets website. There will be a dissemination event to share the evaluation and learning from the project in May 2016. If you are interested in attending or receiving a copy of the end of project reports, please contact Jo Goodman – e. joanna.goodman@bbbc.org.uk t. 07903 088971

Money Mentors

The Bromley by Bow Centre was a delivery partner in the first iteration of the Money Mentors project. After participating in a 10 week course, participants received an accredited qualification in Money Management. To find out more about the project click here.

Money Trainers

Money Trainers was a predecessor of Money Mentors. With support from Friends Provident Foundation, the Bromley by Bow Centre delivered the Money Trainers project from February 2011 to June 2013; this project trained 43 Money Trainers who supported 380 local people to increase their financial capability; developing practical approaches to better understand money, manage their finances and increase their levels of savings. For more information on this project, click here 

Financially Inclusive Tower Hamlets (FITH)

The Bromley by Bow Centre is an active partner in the Financially Inclusive Tower Hamlets Initiative (FITH) which aims to create long term positive change in the borough. For more information, visit the FITH website.