The Berkeley Foundation has committed a further £1m to The Money House, run by charity MyBnk.

The Money House, set up in 2013, targets care leavers and vulnerable young adults about to move into social housing. Delivering across the boroughs of Greenwich, Newham, Westminster and Haringey, the project teaches young people how to manage their tenancy and finances and has helped nearly 4,000 16-25 year olds avoid eviction.

The Foundation’s new investment in The Money House brings its total commitment to the project to £1.9m. Berkeley staff also helped to renovate one of the Greenwich-based flats where the project is delivered. Over the next three years, the Berkeley Foundation has committed to support The Money House’s expansion into Birmingham, an important step towards all care leavers in the UK getting the financial education they need to lead independent lives.

Sally Dickinson, head of the Berkeley Foundation, said: “Sadly, care leavers face a higher risk of unemployment and homelessness and are more likely to come into contact with the criminal justice system than their peers. The Money House intervenes at a crucial point of transition and has had a remarkable impact since its start.”

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