Desire and Will to control your income and spending as a high priority

1. What do you need in order to make the most of your money? Desire and Will to control your income and spending as a high priority Your needs clearly separated from your wants Ability to Read and write English Do simple arithmetic Use a PC, Smartphone or Tablet to access the internet Confidence to manage your finances, and support from family or friends Knowledge of: budgeting, bank accounts, how to safely use the internet, priority and non-priority payments, credit, money-saving opportunities Know: how to convert weekly and monthly units into all weekly or all monthly. An understanding of percentages Awareness and understanding of financial products – loans, insurance, “jam jar” accounts, savings plans eg. credit union account, what to avoid. The habit of writing down and tracking what you do against what you want to do Trusted sources of reliable advice and support when needed

2. Potteries MoneyWise – the Guts of making the most of your money - 1 • Dealing with known emergencies now • Money Planning (budgeting) • financial statement for adviser, specialist appointment or referral • wants and needs • income maximisation • Debts and bills – priority vs non-priority payments • Credit – Credit union vs Payday loan vs new Social Fund • Money-saving opportunities: 1. spending less – tips and lifestyle change suggestions 2. “rainy day money” . . . . putting money aside for future events and emergencies.

3. Potteries MoneyWise – the Guts of making the most of your money - 2 • Awareness of financial products: • + ve . . . Bank, Credit Union and Post Office accounts, • Moneyline, insurance • - ve . . . Payday loans, Loan sharks, • Brighthouse and Perfect Homes • Awareness of: • - How to access the positive ones, and • - Alternative solutions and actions to avoid the • negative ones. • Maximising income • Where to go for local help and more coaching • see Potteries MoneyWisehandout, ChatterboxNS.com

4. Potteries MoneyWise – Beneficiaries Probability of success Resource needed HOPEFULS Hoping for opportunity to change or move on HIGH “hopefuls” are the examples. The others follow PERSUADABLE not bothered or not aware Follow the lead of the “hopefuls” 50/50 Engage only at emergencies or when compelled IMMOVABLE don’t want to change or engage or in denial ZERO Infinite resource needed

5. Potteries MoneyWise – Beneficiaries • Identify hopefuls • Work with hopefuls • Find incentives that encourage hopefuls and act as • “carrots” for “persuadables” • eg. reward tokens • Desirable experiences • Further development opportunities • Positive peer pressure from friends and role models • Therefore being seen to reward effort and behaviour that • moves towards meeting project and potential beneficiaries’ • objectives • Example is YMCA • Don’t waste resources on the immovables. • (who are in denial or don’t have hope, or desire to change. • Colloquially . . . . . ? “Zombies, Outlaws and Aliens” ?)

6. Potteries MoneyWise – Core session Could be for debt, Benefits, housing etc. advice Queue in Reception at CAB office or CAB outreach Assessor Checks PMW eligibility 1 to 1 in private Seen by Assessor who completes Gateway and Consent forms • Gateway form + • Consent form + • (Assisted information • Signposting information) Coach also monitors + requests permission to follow up in 6 wks Seen privately by PMW coach who does 30 mins Core training, + PMW Financial Statement • Client takes away: • PMW “Top Tips” booklet • PMW Financial Statement • Spending Diary • assisted info. / signposting Specialist Adviser / other Agency refines PMW financial statement Finished . . . OR Seen by Specialist Adviser or signposted elsewhere or another appointment made Appt. made for PMW in-depth session (group)

7. Potteries MoneyWise – Words • Budget Money plan • Trainer Coach if 1 to 1 • Fincap Making the most of your money • Financial products Financial awareness • Saving . . . . 2 sorts - paying less • - putting money away for the future