Monday February 25th, 2008
As regulars will know, over the last year we’ve been working on setting up a specific charity behind MSE for the charity fund money to go to. Well, we’re on the way and not too far from launching, so I thought I’d give you a sneak preview of the rough draft of the letter that’ll go out to people wanting grants.
Sneak Preview of What the MSE Charity will be about…
“The UK has a massive problem with consumer and debt illiteracy. Companies spend billions on advertising, marketing and teaching their staff to sell, yet we get no buyer’s training. We’re a nation in debt crisis, with a whole generation up to their eyeballs in borrowing. The MoneySavingExpert Charity Fund is here to help individuals and groups tackle these problems.
Where will the money go?
The charity’s funds will be distributed in two ways:
If you’re considering taking an official course to educate yourself about money/debt/consumer issues, then we may be able to help, providing up to £500 of funding towards course fees and/or equipment (such as books or software). This excludes courses which teach you how to work in the finance industry.
The MSE Charity is also here to support self-help groups and other innovative projects which help educate people about money/debt/consumer issues. So whether you’re a charity or an individual with a good idea, let us know and we’ll see what can be done to help.
However, before we can give you funding, you will need to become a ‘constituted group’ which roughly means an organisation with its own bank account and rules which make it accountable. Don’t worry, if necessary we can put you in touch with people who’ll help you do this.
Where do the funds come from?
It’s hoped a donation of well over £100,000 a year will come from MoneySavingExpert.com, plus the profit from Martin Lewis’ books Thrifty Ways and Three Lessons. Plus the site is providing initial funding of over £200,000. It’s hoped site users and others may choose to donate as well.
All this money will go to the fund, with the Trustees ensuring no more than 10% goes towards administration charges, and the rest is distributed in grants. The cost of the day-to-day staffing operation of the charity will be met by a separate personal donation from Martin Lewis.”
