Money Saving Expert Charity
Overview
The focus of their grant-making is to fund the delivery of activities that improve people's ability to become more financially capable in their present and future circumstances.
Financial Capability
They define financial capability as the ability to manage money well – both day-to-day and through significant life events, such as: having a baby; moving home; unexpected job loss; bereavement; major illness or injury.
It gives people the confidence and knowledge to make the most of their money and improve their lives. This means addressing all the factors that influence people’s behaviour around money: skills and knowledge, attitudes towards money, motivation to take action, and accessibility to financial services.
For more guidance please review the Money & Pensions Service, Financial Capability Strategy website
What activities are they likely to fund?
They fund a very wide range of organisations for all sorts of activities related to increasing personal financial capability. Some examples are listed below:
Money management workshops - understanding the basics, how money works in the UK, online banking, staying financially safe, household budgeting, how to generate and supplement low incomes.
Training volunteers to deliver workshops or to provide peer-support to others.
Upskilling existing staff to access financial capability training to support their end-users directly.
Provide access to financial inclusion activities for people who are disadvantaged in anyway such as by age, disability, ethnicity or gender.
See some of the projects they have funded recently. The applications most likely to be successful are those that ask them to fund specific activity costs.
Eligible organisations
They can make grants to organisations which must be either a UK registered charity, community interest company, credit union or a not-for-profit company limited by guarantee or social enterprise company.
Community interest companies and social enterprise organisations must have a governing document which shows the name, aim/purpose, objects of the group, including a dissolution clause (what happens if your group stops operating). This clause should show that you are a not-for-profit group by confirming that any assets remaining after all debts are paid will be given to another voluntary group with similar aims. This document should also include details of your Trustees or management committee.
Each organisation must have a governing body of at least three unconnected individuals, and a bank account in the organisation's name with at least two unconnected signatories required to authorise payments.
Statutory organisations and 'for profit' companies are excluded from applying for funding.
Notes
Following their Strategic Review in early 2024 it was agreed that all organisations applying must have been established for at least 18 months and be able to provide their annual accounts as part of the application process.
If in doubt, please contact their Operations Manager who will be able to advise whether it is appropriate for your organisation to apply.
Following a review of the Charity's grant-making criteria from July 2025 all organisations applying must have an annual income between £10,000 and £600,000 per year and hold between one and six months running costs in free reserves.
Free reserves are the total current assets (i.e. total assets minus fixed assets) shown on your balance sheet, minus any balance of 'restricted' funds.
Designated funds are part of your free reserves, and should not be deducted.
Please Note - if you are a Credit Union, please use data from the Revenue Account and Accounts Notes regarding General Reserves rather than data from your Balance Sheet.
Funding of core costs and capital funding
They do nor fund core costs directly. They do support full cost recovery, so will consider requests for direct project costs and for a proportionate share of your organisation's overheads (core costs) up to a maximum of 15% of your project budget.
They do not fund building or capital costs for example office furniture. They will fund up to £500 per application for essential IT equipment for project delivery. They only fund specific activity costs related to financial capability projects only.
Grant Budget Request
At the proposal stage, you don't need to complete a full budget - you just need to give them an indication of how much the proposed project is likely to cost, the maximum request is £10,000.
They support full cost recovery, this means that you can request funding for direct project costs and for a proportionate share of your organisation's overheads up to a maximum of 15% of your project budget.
They fund up to a maximum of £500 per application for essential IT equipment for project delivery.
See webpage for budget cost examples.