.png)
know your money
keep the change
Know Your Money – Keep the Change (KYM) was a Big Lottery-funded money management training project that worked with young people aged 16 – 24 in Middlesbrough to improve their financial confidence and resilience.
Where?
Middlesbrough
Age Range:
16-24
Funded By:
Big Lottery Fund - Improving Financial Confidence Programme
About The Project
Know Your Money (Keep the Change) was a Big Lottery-funded programme created to help young people aged 18-24 improve their financial confidence, increase their financial stability and make informed decisions about their future. Delivered through a partnership led by Erimus Housing, with Actes Trust playing a central delivery role, the project provided practical support on budgeting, debt, benefits, employment, housing and wellbeing.
Originally developed to support young people living in social housing, the project evolved over time to reach a wider group of young people facing financial hardship and social exclusion. Through a combination of one-to-one advice, training courses, employability support, health and wellbeing activities, and social opportunities, Know Your Money provided a welcoming environment where young people could access support tailored to their individual needs.
At the heart of the project was a commitment to helping young people overcome the practical challenges that often prevent them from moving forward. Whether supporting someone to access benefits they were entitled to, improve their money management skills, secure employment, manage a tenancy or build confidence, the project took a holistic approach that recognised the complex realities many young people faced.
.png)
Project Partners and Funders
Building Financial Confidence
Over its lifetime, the project helped young people secure more than £3 million through wages, benefits and other financial gains, while also supporting many to develop positive money management habits that would benefit them long after their involvement with the programme.
While financial confidence was the focus of the project, the support provided often extended far beyond money matters. Many of the young people accessing Know Your Money were facing multiple challenges relating to employment, housing, health, wellbeing and confidence. Rather than addressing issues in isolation, the project adopted a holistic approach that recognised the wider barriers young people faced and provided personalised support tailored to individual circumstances. This flexibility ensured that participants received the right support at the right time, helping them make progress across multiple areas of their lives.
KYM Participant Feedback
Overall Project Impact
2561 young people engaged with the project
605 young people received training to become more financially confidence
Over £3m in financial gains secured in for young people
Insights From the Evaluation
Built Around Young People
One of the key strengths identified within the independent evaluation was the project's genuinely young person-centred approach. Participants consistently described the service as welcoming, approachable and non-judgemental, highlighting the importance of trusted relationships with staff who understood their circumstances and aspirations. Young people valued the personalised support on offer, the accessibility of the service and the opportunity to access advice in a relaxed and supportive environment. This approach helped engage many young people who may not have felt comfortable accessing more traditional support services.
Creating Positive Futures
The impact of Know Your Money extended far beyond improved financial awareness. Through a combination of practical support, guidance and encouragement, the project helped young people move towards greater independence, stability and wellbeing. Participants gained employment, apprenticeships and traineeships, improved their confidence, strengthened their support networks and developed skills that helped them achieve their goals. The evaluation found that 98% of surveyed participants felt the project had been helpful in addressing the issues they were facing, while many spoke about the positive difference it had made to their lives and future prospects.
Lasting Impact
The independent evaluation concluded that Know Your Money successfully combined meaningful outcomes with a genuinely supportive and inclusive culture. By bringing together financial guidance, personal development opportunities and tailored one-to-one support, the project helped thousands of young people improve not only their financial circumstances but also their confidence, resilience and overall wellbeing. The result was a service that delivered both practical outcomes and lasting positive change for the young people it supported
The KYM evaluation can be downloaded here: