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  • FIRST POST
    • MSE Jenny
    • By MSE Jenny 13th Jul 06, 3:54 PM
    • 1,236Posts
    • 3,568Thanks
    MSE Jenny
    Should there be a MoneySavingExpert.com Charitable Trust? Blog Discussion
    • #1
    • 13th Jul 06, 3:54 PM
    Should there be a MoneySavingExpert.com Charitable Trust? Blog Discussion 13th Jul 06 at 3:54 PM
    This is the discussion to link on the back of Martin's The MoneySavingExpert.com Charitable Trust' blog. Please read the blog first, as the discussion folows it.


    Read Martin's "The MoneySavingExpert.com Charitable Trust" Blog
Page 1
    • max2002ad
    • By max2002ad 16th Jul 06, 11:02 PM
    • 292 Posts
    • 404 Thanks
    max2002ad
    • #2
    • 16th Jul 06, 11:02 PM
    • #2
    • 16th Jul 06, 11:02 PM
    I have read the blog and i fully support this idea. I think it will be great to not only support charities as you do at present but also to encourage and reward organisations and individuals that help to raise the publics awareness of financial issues.
    I would definitly contribute to the fund as this site has saved me so much money i feel it's the right thing to do to at least help contribute to helping other people to get the awakening that i have done.
  • freeloader
    • #3
    • 19th Jul 06, 5:43 AM
    • #3
    • 19th Jul 06, 5:43 AM
    great idea! can I suggest using some of the funds to promote or assist moneysaving through resource saving?.... like addressing the unnecessary use of energy in the home and on the road, or the perceived 'need' for the latest gadget, the flashest car, the most exotic food ... could be unpopular though!
  • lil_ferret
    • #4
    • 19th Jul 06, 11:23 AM
    • #4
    • 19th Jul 06, 11:23 AM
    I think it is a fantastic idea. If I'd had a better education about money and debt as a teenager I wouldn't be in the situation I am now. This site has helped me put my debts into perspective and I am tackling them slowly but surely.
  • martinp79
    • #5
    • 19th Jul 06, 11:52 AM
    Yes
    • #5
    • 19th Jul 06, 11:52 AM
    Martin, this is an excellent idea! Increased financial savvy would stop a lot of the problems with finance and children (and a lot of older memebers of the community) should be made aware. Perhaps the charity could develop (or fund the development) of a short course that community groups/churches could run for their community. It is often the people who need this advice most that don't get access to it.
  • moneymaniac
    • #6
    • 19th Jul 06, 12:52 PM
    Fantastic idea
    • #6
    • 19th Jul 06, 12:52 PM
    What a wonderful idea. I am a Trust Fundraiser and am currently working for a Youth Charity.

    We are curently running training from our charity for young people to help them to budget/try and avoid bad debt/ where to go if it happens for support.

    More charitable trusts to support this kind of work will be hugely beneficial , especially in the future as we may see more and more people in debt and with financial worries.

    Make sure you keep the application process open and simple too!

    Keep up the excellent work.
  • kaffin77
    • #7
    • 19th Jul 06, 12:54 PM
    • #7
    • 19th Jul 06, 12:54 PM
    I think it's a great idea. It's fantastic that you have been proactive in providing a web-community which helps fight the power imbalance between consumers and companies. I think your charity is the next step towards making an even bigger difference and I suspect it will turn out to be as successful as your site.
  • Iriahm
    • #8
    • 19th Jul 06, 1:16 PM
    love the idea!
    • #8
    • 19th Jul 06, 1:16 PM
    Hi!

    I would support the idea of a trust to educate folks in all things money related, even more so if it went into the grass roots and taught kids about budgeting, credit etc. most of my problems started at uni when credit was thrown at me and I accepted it and spent it all very quickly.

    once i'm debt free I would financially support such a trust regularly to help others.

    keep up the good work!
    Lightbulb moment: July 2006

    Total debt: 39,678.01 July 2006 Total Debt: 19k March 2007

    Proud to be DFW Nerd 123
    [size="1"][b][color="Red"]
  • TARA
    • #9
    • 19th Jul 06, 1:58 PM
    Charitable Trust
    • #9
    • 19th Jul 06, 1:58 PM
    A great idea. Some citizen Advice Bureaus have staff trained to give financial advice but not all bureaux. Perhaps they could be considered. Northern Ireland folk often rank as the biggest donators to Charity per capita but the rules there for setting up Charity accounts are slightly different from England & Wales--please take that into account also. It will be hard work but good luck.
  • Socrates
    The Ethics of Money Saving
    Your idea for a consumer education charity is valuable - we all need help with this one. However, it is important to think about the wider context in which money-saving is promoted. In some cases, other people pay the price of money saving activities. These people tend to be the poor and marginalised in the international division of labour upon whom we depend not only for cheap products but the economic growth that drives our savings plans and investment trusts. Should money-saving activities be promoted within an ethical context of global fairness and environmental sustainability?
  • deap
    I also applaud your decision to put so much of the site's revenue towards education and other good causes. Given the incredible amounts involved, it seems only right to set up your own charitable trust and keep a strategic eye on the best use of the funds.

    Could we soon be applying for moneysavingexpert charitable trust 0% credit cards (possibly overprinted with a Martin mugshot and the Money Mantras) I wonder?
  • helen240556
    Charitable Trust
    It's a great idea. I work for a trust that funds debt advice and also gives awards direct to people in debt - and also advise on another initiative. There's always room for more debt advice.
  • ann.hunter
    Definately
    Can I suggest linking in with the Citizens Advice Bureau? They have two aims, to help people with their problems, debt or otherwise, and also to try to change social policy to be fairer - maybe there can be some partnership there?
  • Citizen Andy
    Charitable Trust
    Great idea but we must recognise that often the people who need the most help are the ones who have not got ready access to your site.The CAB is often the only available help for many people who need face to face contact and in many areas is hard pressed to advise everyone who needs their services.A partnership with them in promoting consumer education would have significant benefits
    • bobmccluckie
    • By bobmccluckie 19th Jul 06, 8:15 PM
    • 61 Posts
    • 27 Thanks
    bobmccluckie
    How about a stall at every university's fresher week with information about the website and what it does, how it operates, etc?
  • kathfisch
    Martin, I think any charity with the dedicated aim of increasing financial education and awareness has got to be a good thing

    Its interesting to consider whether the money would be best used to fund lots of small, localised projects or a few bigger, more national ones. I guess this would depend on the project ideas brought forward to the trust though. I would definitely agree that a user-friendly application progress would be essential, so that smaller initiatives are not put off from applying.

    I think its great that the site can generate such amounts of cash and that it can be put towards something so worthwhile

    Kath
    Don't stress, relax, let life roll off your backs. Except for death and paying taxes, everything in life is only for now... Avenue Q
    Official DFW Nerd Club - Member no. 003 Proud to have become debt free... and striving to keep it that way
  • Gary Best
    Martin - great idea. And the most useful tool that beginners can learn to become fancially savvy must be the daily/monthly budget. If a beginner can learn to run their own simple budget via a simple spreadsheet on computer or on paper, it will open up a whole new world of financial acumen to them which keeps them in control. Because when you know exactly how much money is being credited or debited to your account - and on what day - then you can manipulate your finances to screw the corporate big guys before they screw you. Go for it Martin !

    Gary
  • xplo5iv
    I like the idea, but...

    £75k (50% of £150k) won't exactly go far once it's dished out to various organisations. As someone who has experience in distributing funding to various charitable organisations, I have often seen projects which do not exactly deliver value for money, (Cue avalanche of complaints...) and £75k is about going to employ one full time person, a bit of admin support and some overheads. (or essentially the equivalent, but in lots of little bits)

    Perhaps a better use could be found?


    Jonathan
  • stixman7
    Appreciation
    I think that it's a great concept you have here Martin, but I would also like to say a big thank you for what you have already contributed to charities. I personally manage the Swansea CHRISTians Against Poverty Centre, and I know first hand what it is like to be releasing people from the chains of debt.

    Your contributions have paid a part of this solution by supporting a centre for up to about 5 months. In this time we could have effectively helped up to 25 families! The social implications are endless, as we have seen marriages/families kept together, suicide prevented, children have proper meals and clothing, stopped home re-possessions etc. Something to think about Martin; you've been a part of the solution for these people!

    We have just won 2 major national awards this month with Charles Kennedy having donated one of them (picie on the website! - http://www.capuk.org), so we are going from strength to strength by providing a means of escape from debt as an alternative to the so-called "free" debt advice agencies out there.

    I think that it would be a great idea for you and your Dad to visit our operations in Bradford to see more of what we are trying to achieve! Many thanks again.

    Byron
    stixman7
  • cottel7
    Martin, this is an excellent idea! Increased financial savvy would stop a lot of the problems with finance and children (and a lot of older memebers of the community) should be made aware. Perhaps the charity could develop (or fund the development) of a short course that community groups/churches could run for their community. It is often the people who need this advice most that don't get access to it.
    by martinp79

    This is a fantastic idea, as a teacher I would happily volunteer teaching such a course, I think many people of all ages could benefit!!!
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