One year on: Financial stability
Back in September 2018, HACT’s head of social value James Williams wrote a blog on an issue which hasn’t gone away. While by no means taking any leap of the imagination, James rightly noted that “financial issues will continue to be an issue for people.”
Many of the structural barriers to financial stability have certainly endured, and even worsened, as living costs take a hit amidst the continuing uncertainty of Britain’s economic place in the world. Over the next year, forecasting how and where the country will be affected is a near impossible task- but what is certain is that we have to pay more attention to the harmful social and mental health impacts this uncertainty is having on individuals.
Regardless of any geopolitical changes that occur, targeted interventions can deliver meaningful change on a smaller scale. Stability can be built from the ground up, helping individuals stand fast against the shifting macro-economic climate. Financial stability stems from the ability and confidence to understand, manage and adjust. While government attention is directed elsewhere, community investment projects that develop the skills and confidence to manage one’s own finances are essential.
James spoke of the value of ‘person-centred’ approaches built on empathy and trust. It’s these sorts of projects that the Centre wants to hear more about as we build up a network of community investment professionals across the UK. Sharing and learning from each other is the best way to develop better practice. Get in touch if you are working on projects that improve financial stability, and together we can pick up the slack at a grassroots level.