Money MentorsMoney support for older people, vulnerable adults and their carers.
What does it do?
We’re here to take the stress and worry out of tackling everyday money matters no matter how big or small. From organising paperwork and paying bills to budgeting, managing debt and more.
· Improve your ability to manage money matters
· Provide practical money management support
· Advocate on your behalf in accessing information, products and services
· Help prevent and stop financial exploitation
· Support you in preventing and managing debt
· Assist with future planning
· Overcome isolation and loneliness with regular companionship
· Improve mental health and wellbeing
These are just some of the ways in which we can help.
· Organise paperwork
· Complete forms
· Help to budget
· Provide training in book-keeping
· Claim benefit entitlements
· Maximise your income
· Manage and cut the cost of debts
· Reduce your outgoings
· Compare and switch household products and services
· Open/close bank accounts
· Transfer documents following a bereavement or house move
· Stop cold callers and scams
· Provide information on will writing
· Advise on Lasting Power of Attorney
· Signpost and refer
Who it is for?
Money matters practical face to face home visit support service for older people, vulnerable adults and their carers.
Money Mentors help older people and vulnerable adults who have capacity to make financial decisions but struggle with everyday money matters or have debt problems. We also support carers in managing the impact caring has on their own financial well-being.
We provide a helping hand to those with learning difficulties, physical disabilities or mental health issues, as well as people who are confused, isolated, frail, unwell or need support following an illness, house move or bereavement.
· We recognize that due to disability, illness and cognitive decline as we age, it is difficult to stay independent without ongoing support, to address this, we provide a continuity of service for the long term, as often and for as long as our services are needed.
· We provide a person-centred service to all vulnerable adults with capacity to make financial decisions and in need of money management support.
Where it is available?
What it costs:
Funding of our services
The services that we provide are funded by the individual, however it is possible for fees to be met by local authorities and other organisations. Direct Payments and Personal Health Budgets, can be used to pay fees supporting individuals with an assessed care package, to include money management support.
Assessment of needs
We work with the individual and his or her social work team; care providers; family; friends and third party decision makers in supporting the most vulnerable clients. We help to assess the client’s needs and establish the support that they require.
The fees for our services are as follows:
Assessment Visit £75 one offHome Visit (2hrs) £45 per visit (inc. travel expense)
How to access or apply for it:
If you or someone you know needs help with money matters, please complete a referral online at: www.money-mentors.org.uk or send an email to:
· call us on 07711 254 606.
What to expect then:
Once we receive your enquiry, we will contact you to arrange a home visit at a time that is convenient for you, to discuss how our services may be of benefit and answer any questions you may have. If it is agreed that the service will be of benefit to you, we will produce an EveryDay Money Management (EDMM) plan together, and identify any specific financial decisions that require support, as well as discuss any individual vulnerabilities that need to be considered and taken into account on delivery of the service.
There is a huge amount of information on legal and formal administrative arrangements for managing someone else's money (e.g. appointeeship, lasting power of attorney and deputyship), however there is very little advice and information on the day to day practicalities of managing someone else's financial affairs and the issues that can arise and how best to deal with them. Vulnerable adults who are unable to manage their everyday finances on their own are at risk of falling into poverty, losing their home, being institutionalised and financially exploited.
At the heart of Money Mentoring is our passion to develop personalised strategies and to work collaboratively with local authorities, the financial and legal sector, DWP and other organisations to ensure that vulnerable adults’ best interests are at the heart of the decision making process. We encourage and foster the preservation of individual autonomy, and delay or put off altogether more restrictive interventions.