Marsden Building Society funds money management initiative for Burnley’s Pashtun community

The Flowhesion Foundation helps minority and disadvantaged communities across East Lancashire and Greater Manchester live better, feel better and achieve more. In Burnley, the Foundation works to provide a support network for a wide range of issues, including language barriers, domestic abuse, and financial literacy.

The Foundation’s ‘Money Matters’ initiative comes after a focus group of 20 service users found 80% were in debt due to the cost-of-living crisis, and 85% wished to better understand financial terms and issues so they could make informed choices.

The 12-week money management programme was attended by 37 Pashtun men, who were taught about critical money management issues, such as budgeting, savings, credit scores, tax and debt management. They were also advised on loans and credit cards, including managing payments and how interest works.

Having completed the workshop, Jahangir Khan (46) said: “The programme educated me about credit scores, APR, secured loans and lots of other terms that are important to understand when loaning money. I simply did not understand these things when I wanted to take out a loan or card.”

The funds are managed by the Community Foundation for Lancashire, which works closely with organisations to help ensure their charitable donations have the greatest impact where they’re most needed.

Rob Pheasey, chief executive of the Marsden Building Society, said: “Financial literacy is an important skill and we must ensure our communities are equipped with the tools and knowledge to make informed decisions about their finances. The subject can be particularly complex for those who are new to the UK, so we’re proud to help The Flowhesion Foundation deliver this much-needed programme.

“We hope this initiative has provided reassurance to members of Burnley’s Pashtun community about their financial futures.”

Imam Abdul Hafeez Siddique, CEO of The Flowhesion Foundation, added: “We were delighted to receive this investment from Marsden Building Society. It allowed us to equip our service users with sound financial knowledge and allowed them to better understand financial products, terminology, and investments. This is particularly important given the cost-of-living crisis.”

To learn more about the work of The Flowhesion Foundation visit www.flowhesionfoundation.org.uk.