A Birmingham based financial confidence project has reportedly saved first time social housing tenants aged between 16-24 over £40,000 in energy bills.
‘Pay Ahead, Stay Ahead’ (PASA) is a 3 year project being run by Ashrammoseley, part of the Accord Group. The scheme aims to improve the money management skills of 6,000 social housing tenants aged between 16-24 in Birmingham and North Solihull. The programme’s aims are to help people to deal with money in general, helping them stay out of debt, save and avoid loan sharks.
They are targeting primarily (but not exclusively) young people who are at serious risk of losing their homes due to rent arrears by teaching valuable and innovative techniques that will provide them with the skills required to successfully manage their tenancies.
As part of the project, a team of professionals from partner agency Energy Extra has helped 113 people across Birmingham and Solihull with home energy assessment visits and given valuable advice on making utilities more affordable, which collectively saves tenants thousands of pounds on monthly and annual bills.
PASA programme manager, Emma Wright commented: “Youth poverty is a serious problem across the world. In Birmingham, which has the largest youth population of any major city in Europe, this is particularly prevalent so it’s imperative we do something to help our young people.
“Helping them to save money on utility bills not only means they get more money in their pockets at the end of the month, but also teaches them more generally about financial planning and budgeting and ultimately helps them sustain their tenancies."