Charity leads the way in digital learning for people experiencing financial difficulties

Charity leads the way in digital learning for people experiencing financial difficulties

The Haven Wolverhampton has today (25th September 2014) announced the launch of its on-line Financial Stability Advice Tool that will allow victims of economic abuse to gain financial freedom.

On the back of the success of the charity’s ‘Moving on through Economic Empowerment’ project that saw 150 women across Wolverhampton being supported, a brand new on-line digital tool unique to The Haven Wolverhampton is now available to individuals and agencies working with individuals who have experienced financial abuse.

The brand new Financial Stability Advice Tool funded by The Money Trust has been developed by the charity’s Financial Inclusion Team and builds on the financial capability sessions that had been previously run by the charity for victims of financial and economic abuse. It has been designed with a view to aiding victims of financial abuse to become more aware of their own finances, help them become more finance-savvy and gain confidence about making financial decisions.

By launching the tool, the charity aims to demonstrate to people that it is doing everything in its reach to support those who have experienced financial abuse and help them to: regain financial control, get the appropriate support and build stable futures for themselves and their families.  People will be able to access the tool from the comfort of their own homes to learn about complex concepts such as ‘What is APR?’ as well as understand more fully the Universal Credit system and how they can overcome financial barriers and avoid payday lending schemes. The tool will also be a valuable addition to the kitbag of those agencies and professionals working with people affected by Financial Abuse.

It is anticipated that the tool will be widely used by many people and sights are set by the charity to develop an ‘app’ for young people so that they understand the importance of budgeting and prevent the future reliance on loan companies.   

Upon announcing the launch, Rani Kaur, Lead for Community and Advocacy at The Haven said “We are excited to have developed the financial capability tool and aim to empower women with the financial awareness they need to sustain their property agreements following financial abuse.  We also encourage external agencies to become familiar with the tool so that they are more equipped to recognise whether their clients are in a financially abusive situation.”

If you would like to find out how the Financial Stability Advice Tool can help you or help your clients speak to a member of our Financial Inclusion Team on 01902 572145.