Following the Crisis, Follow the Money

It is already a cliché to say people in low-income households are experiencing a 'perfect storm', in terms of the challenges to their financial wellbeing. The cost-of-living crisis, on top of inflation, on top of the promise of further rocketing energy prices thanks to war in Ukraine, on top of the hardship deepened through the pandemic (with furlough and job losses) is putting households under pressure not known since the 1980s. Many have gone under already, many more are on the precipice. Poverty never left us but has come out of our peripheral vision to centre stage.

While the cost-of-living crisis is a global issue, domestic policy is proving slow to respond. Struggling households need something that is immediate and local, practical and sustainable. Following the Crisis, Follow the Money is an event bringing together practitioners keen to explore what more we can collectively do to support people on low incomes through. Speakers will present on the implications of the cost-of-living crisis from a range of perspectives. There is no ‘silver bullet’ and leading into a discussion about the local responses we might collectively make, we will explore one innovative approach called ‘Follow the Money’ that was recently backed by the West of England Combined Authority, which aims to help participants access an average £1,000 of financial gains.

Speakers are being finalised but the session will include:

• The Cost of Living Crisis - Context
• West of England perspectives
• Practical responses: ‘Follow The Money’ - financial gains to mitigate the crisis [Jeff Mitchell, Clean Slate Training & Employment CIC]
• Strengthening the ‘safety net-work’ across the West of England [Break-out Discussions]

Quids in! is the financial resilience initiative run by Clean Slate Training & Employment CIC, a West of England-based social enterprise helping people on low incomes to become better off. We support people to re-think how they organise their finances, help them find work or better work, and enable them to get online. Quids in! publishes a light and easy-to-read, personal finance magazine for people on benefits, in social housing or on low pay, as well as a range of guides, a monthly e-newsletter and interactive tools on quidsinmagazine.com, reaching over 160,000 people per year. Our professional network, Quids in! Pro, has 2,000 subscribers made up of advisers, housing professionals and decision-makers across the UK.

Quids in!'s last readership survey of social tenants across the UK found 42 per cent were already turning off the heating despite being cold and 39 per cent were skipping meals. For many, it was not a choice of 'heat or eat', they couldn't do either properly. In turn, 25 per cent became physically ill and 59 per cent reported feeling anxious, frightened or depressed on account of money worries. That was pre-Covid. The world is a different and less certain place now.

Numbers are limited. This event will be recorded to extend its reach to participants who cannot not attend.