Should there be a Charitable Trust? Blog Discussion



  • Hi,

    I think the site is fantastic. Even someone as unmotivated as me has been able to save money.

    I also think the idea of funding financial education is great. I *wish* I'd had someone spend time with me pointing out the value of saving over spending and how easy it can be to accumulate some money to spend on the things you enjoy doing.

    However, I would just question the issue of setting up another charity. I used to work for a charity and there are *thousands and thousands* of them already. Have you considered donating all the money you plan to donate to a charity which already exists? That would give an organisation that already has the infrastructure in place to receive and judge applications without you having to reinvent the wheel. That way you could also donate the cost of any salaries that you would have had to pay if you run it yourself.

    As I said, I think the aim is excellent.


  • SooTee_2SooTee_2 Forumite
    41 Posts
    I think it's a great idea and I wish you well with it, Martin. I know you'll do all the homework necessary for it to grow and be a success.

    I am one of those who seem to be trapped in the poverty line. I'm over 50, on my own, have a part-time job with difficulty getting another one because of my age, in debt and not being able to see the way out. However, my personality type is Sanguine, which enables me to keep sane as I KNOW there is something better around the corner and I will trip over it if I keep looking.:rotfl:

    I am starting your bank charges reclaimation against Abbey plc but have got a bit confused, so must go back to your helpline notes and letters.:confused: THEY ARE NOT GOING TO GET AWAY WITH IT - at least £1,000 charges in the last year & £90 last month in this month's statement with at least £60 to come for this month in next month's statement:mad: (if you understand me!).

    Thank you for your splendid work.:T
  • JohnnyHPJohnnyHP Forumite
    4 Posts
    Loving the idea, however, that amount of money really won't go very far... As someone who has set up a not-for-profit company working with young people, it strikes me that many voluntary sector and indeed statutory organisations are totally rubbish with money. Maybe a helpful thing would be a toolkit for these organisations to check where they could be money saving themselves, plus tools they can use with customers who need money saving advice. There are lots of people offering advice about attracting sales and funding, or business planning or fundraising, but no-one out there seems to be offering advice to organisations about how to deliver services more effectively from a cost point of view. Money saving needs to be part of the ethos of an organisation before they can offer meaningful advice to their customers on the subject!
  • Dear Martin,
    I recive your weekly newsletters and check use your tips to try and increase my money sving awareness. I read your ideas on the charitable fund to raise awareness for money savers and think it is a great idea.
    I am a Platoon Commander, in the Army, with a regiment based in Germany and as such I am always looking for new ideas to present to my soldiers in order to save them money. I know it's a long shot, but is there any chance of a moneysaver initiative for soldiers and other serving personnel on money saving tips or benefits they ought to know about?
    Forces personnel are notoriously bad with their money and at the moment they come to someone like myself (fresh from university - with my own debts!) for advice on how to stop overspending/consolidate debts or to find out their financial options. It would be useful to know there was an expert to talk to about these matters.
    Thank you in advance for any advice or help that you may be able to give and keep up the good work with all the tips.

  • MSE_MartinMSE_Martin MoneySaving Expert
    8.3K Posts
    Thank you all for such interesting ideas.

    Whats fascinating to me is how many different people suggest things I'd never thought of - eg funding army/community training on MoneySaving. The idea of a fund is to provide money and support for people to act on these ideas to make them work.

    The overwhelming support above means i think its a go-er :)

    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
    Don't miss out on urgent MoneySaving, get my weekly e-mail at
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  • MrsTinksMrsTinks Forumite
    15.2K Posts
    Part of the Furniture 10,000 Posts Combo Breaker Name Dropper
    It's definitely a go'er Martin :)
    £75,000 might not be much to start with but one organisation I work with has helped 590 dogs find homes through their website since April 2005 and their annual donations are less than £10k! So to say you can't make much of a difference with £75k... tosh! :) This is something we all care deeply about and I know that hundreds if not thousands of the MSE'ers - me included - would have wished such a charity had tried to educate us when we were younger before we got in to this mess :)
    As they say - I'M IN!
    DFW Nerd #025
    DFW no more! Officially debt free 2017 - now joining the MFW's! :)

    My DFW Diary - blah- mildly funny stuff about my journey
  • PoppycatPoppycat Forumite
    19.9K Posts
    Part of the Furniture 10,000 Posts Combo Breaker
    This is a fantastic idea. Just one thing can you please take into account some less known charities. Some well known charities although do very imporant work have resources and man power to get funding sometimes to the detrement of less high profile charities.

    Why not have a thread and or donate box on site (if you get my drift) where people can donate via Paypal too. Sometimes its great when one finds a bargain and to give a little bit back for those in time of need.
  • I grew watching my parents lose their home, then business, then end up in a council flat with no money. I grew out of that and achieved my own business and a nice house, car etc through my smartness with money (do not confuse my statement as self praise which is not my intention). People now need to be educated that money can be your saviour or your downfall - I am all for this scheme, would love to contribute actively, not so much financially to help others & think Martin should be recommended for a Nobel prize for his tireless efforts in this regard. Someone needs to do this.

    Keep up the excellent work!
  • jobbingmusicianjobbingmusician Forumite, Board Guide
    20.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Intrepid Forum Explorer
    As some of you will already know, I run a charity for younger people (anyone under retirement age, now didn't that make you feel good!) who have had a stroke. One of the biggest problems of any long-term illness is poverty and grappling with benefits. We produce various useful bits of information, but one of the most useful resources we have is this site itself!!!!! (In particular, a big thank you to Ted Hutchinson).

    I'd like to see some resources put into funding a poverty/benefits/moneyadvice advice person to work online, an offshoot from this very site. Yes, I know lots of people don't have access etc., but I think such a project could be designed so that charities could access the information for their clients, where necessary. But ideally we should work to make it accessible to as many people as possible.

    This is a bit different from things like the excellent DFW board, as there would be some professional input (and lots of stickies) to the board, and specialist advice for people who have suddenly lost everything/are gradually losing everything as a result of life circumstances which could not have been foreseen.
    I'm the Board Guide on the Matched Betting; Referrers and Jobseeking & Training boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there. Board guides are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of

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  • quirinquirin Forumite
    3 Posts
    I believe this is a good idea. Maybe it could also include information/teaching where we stand legaly towards banks etc. when they try to get more out of us as consumers than they should or when we follow other MoneySaving ideas i.e. if someone does not honour the promises thea have made. I hope it works out.
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