Melton students to get budget advice from debt support service

Schoolchildren and college students in the Melton area are to be given budgeting advice to help them manage their money and avoid getting into debt.

By Nick Rennie
Monday, 6th June 2022, 5:27 pm
Updated Monday, 6th June 2022, 5:29 pm
MADMAC founder Amanda Heath with new educational officer, James Sherrenham (right), and Simon Taylor, chief executive of Melton Building Society, which is sponsoring the scheme
MADMAC founder Amanda Heath with new educational officer, James Sherrenham (right), and Simon Taylor, chief executive of Melton Building Society, which is sponsoring the scheme

Melton and District Money Advice Centre (MADMAC), which has supported hundreds of local adults suffering from financial hardship issues, is to send a specialised educational officer into schools and colleges to work with young people.

It came about through sponsorship from Melton Building Society, through their ‘building thriving communities’ initiative, with the intention of helping people from all walks of life to take control of their finances.

After announcing James Sherrenham as the new educational officer, Amanda Heath, Founder of MADMAC, said: “We are so excited to be starting this partnership with Melton Building Society – their sponsorship has enabled MADMAC to do something we have dreamed about for years.

"Prevention and education on money matters has the ability to change a generation, so that when our children become adults, they will have a better chance of increased financial capability skills to achieve those goals we all want, such as home ownership and savings - which can help lead towards brighter futures.

"Having James in this post, working in a part time role, gives us the ability to reach all children within our communities.”

James commented: “Having previously worked with adults struggling with their financial affairs, I am keen to take on this role to give our younger generation a fighting chance at understanding the importance of personal finance and how best to manage their money.

"We’ll also be going into local businesses to train employees via our money management courses, with the goal of inspiring people with a fresh approach to thinking about their money.

"I have been aware of MADMAC’s work for a number of years and was drawn, not only by their professionalism, but also their caring posture towards our community. I look forward to continuing in that aim.”

MADMAC, which is based at The Fox on Leicester Street, helps individuals with their finances and provide debt solutions through a number of ways, such as debt management plans, insolvency solutions, budgeting tools and advice.

With the current national fuel and food crisis and the impact caused by the pandemic, the organisation believes it is even more important that staff are equipped to deal with what’s ahead and have an empathy for young people who are facing so many more obstacles to daily living and financial aspirations than previous generations.

Melton Building Society will also be working closely with MADMAC to deliver money management sessions into local businesses, in an effort to directly support the community and offer helpful advice.

Commenting on the partnership, chief executive Simon Taylor, said: “We are proud to be supporting MADMAC with this great new partnership.

"With 2022 looking bleak due to the escalating cost of living and rising energy prices, it is important to have these services available for everybody to access.

"The society is committed to investing in our communities and helping people during this difficult time.”

Any locals schools interested in hosting a MADMAC session, are asked to email [email protected] for more information.