Financial distress has a hugely detrimental effect both on individuals and on local communities. The problem has two key dimensions; it is both systemic and personal. In system terms, the issue is the availability and quality of financial services and products that meet people’s needs.
Capital Mass is working to help churches respond to the issues of credit, debt and money worries in the communities they serve, building on from the Church Credit Champions Network pilot
Our work around Debt and Money aims to unlock the resources of local churches to strengthen financial resilience in communities through support for:
- Community finance
- Signposting to debt and money advice
- Building financial capability
- Campaigning for a fairer financial system
It also aims to raise systemic and structural problems that cause people to struggle with money, and help the church respond to these challenges across the Diocese of London.
We work in partnership with the national Just Finance Foundation
Financial exclusion is very real, and nowhere more so than in this great, but expensive city of London.
- 2.3 million Londoners- about 27%- are living in poverty- after housing costs
- Over half a million of those living in London are classed as being “over-indebted”- struggling to keep up with payments and falling into debt
- Londoners in debt have worse levels of debt than elsewhere in the UK- and higher arrears on essential bills and face a greater struggle to make ends meet.
More than 1 in 3 of clients seeking help with debt in London were in rent arrears. The amount of rent they owed was half as much again as the UK average (Source)
The number of working-age adults in poverty in London has increased from 1.1 million to 1.4 million in the past decade. (Source)
21% of people living in London are paid below the London Living Wage. (Source)
Meet Alison Tsang
One of Alison’s roles to raise awareness and participation from churches across the Diocese in tackling the issues of financial exclusion.
She works alongside churches to help them respond to the needs they are seeing, whether that be for debt advice, access to affordable credit, money management or other responses.
She also offers support and training around specific issues as they arise on a Diocese-wide level.
She’s always happy to have a chat, tea or coffee if you want to find out more or have any questions in this area.