In this week’s Leading the Way blog, we share some of the ways Bristow & Sutor has committed to assisting The Money Charity, the UK’s Financial Capability charity, why we believe the work they do is so important and share some of the upcoming ways to get involved with this fantastic cause.
What is The Money Charity?
The Money Charity provide education, information, advice and guidance to people of all ages, helping them to manage their money well and increase their Financial Wellbeing. The charity has been in operation for over 25 years and focuses less on how much money a person has access to and more on smartly harnessing what they do have, to ensure money is used as a force for good within their lives. They strive to ensure every person is well-informed on all the tools at their disposal, helping them to make better financial decisions in future. This includes providing guidance, workshops, webinars, resources and consultancy services. All of these help people engage with making good financial plans, achieving their monetary goals, creating financial buffers and building resilience against unexpected life events
Empowerment is a key message for the charity and removing taboos around money is present in all of the different support provisions provided to young people in schools and colleges, adults at work and people of all ages engaging with local community groups. The charity consistently advocates for better outcomes in the commercial and business world too, often through consultancy materials and policy research contributions. Support is often offered by organisations who share the same passion and aspirations, looking to give back and re-invest generated revenues into making a difference.
Why is this significant to Bristow & Sutor?
Economic, social and environmental wellbeing is a key aspect of collections and enforcement and Bristow & Sutor has a long history of successfully supporting vulnerable people. Supporting worthy causes in this space is inspiring and morale-boosting for our employees, who regularly look for ways they give back to the communities they work and live in. Other charitable causes we have donated to in recent times include the Trussell Trust, Stop Domestic Abuse and AdviceUK. Staff also took part in the Steps for StepChange initiative, raising funds and awareness during Debt Awareness Week (DAW).
Bristow & Sutor see the need for better education, in order to prevent problem debt. As well as the impact financial wellbeing has on customers we communicate with, Bristow & Sutor also recognises that this is important for our people too. Mental Health and wellbeing have become prominent topics for businesses in 2021, but employers must recognise these are highly linked to financial capability. Poor financial management will affect someone’s ability to cope with everyday life including performing their job. Recent research conducted by Close Brothers and CIPD shows 94% of UK employees admitting to worrying about money and 77% say that money worries impact them at work, showing there are clearly not only welfare, but sound business reasons for providing Financial Wellbeing training. Investing in the knowledge and advice of experts from The Money Charity could make all the difference for the ongoing productivity and happiness of some members of staff.
The support and guidance of The Money Charity is offered commercially to workplaces but is provided free to young and disadvantaged people. This is made possible thanks to the ongoing generation of funds from companies like Bristow & Sutor. We have recently pledged £15,000 to the charity which will have a direct impact on around 500 people. Half of this donation is undirected funds and the other half is specifically allocated for delivering Financial Wellbeing training to local community groups and schools. In addition to this investment, it is also important that the charity utilises partnerships that help spark further conversations, helping them to engage with other institutions that would benefit from their expertise and can contribute to their cause. That is why Bristow & Sutor has also invited The Money Charity to partner with them and share their stand at the upcoming IRRV Annual Conference in Telford on the 6th, 7th and 8th of October 2021.
A platform to be heard
Joining us at the IRRV Annual Conference is highly beneficial to The Money Charity for a multitude of reasons. Firstly, this will allow representatives on the day to raise awareness, as despite being a national charity, not every person fully understands the integral work that they do. As well as generating additional support streams, access to this highly relevant audience will allow the charity to engage in important conversations and discussions related to overall financial wellbeing measures, actions and approaches currently taking place.
Beyond this event, other communications and awareness-raising initiatives are planned, including activities set to take place across Bristow & Sutor digital channels during Talk Money Week, the annual financial wellbeing promotion held by MAPS every November.
Bristow & Sutor is delighted to support The Money Charity as we remain committed to adding social value to client communities, maintaining our ethos of improving financial circumstances for all and staying true to our mission of being Cool, Calm and Collected.