What is ‘value for money’?

Learning about value for money

What does value for money mean?

By its simplest definition, 'value for money' is a way of measuring the cost of something against the quality or benefit of that thing.

It's something we all do in our day-to-day lives. For example, you might weigh up between two brands in the supermarket to decide which one will be the best balance of price and quality.

Selwood Housing uses our value for money strategy to plan out how best to balance our costs to provide the best quality service we can.

How did we involve customers?

Back in October we invited four customers to meet Mark Mayler, our finance director, to learn all about value for money and why it is important for Selwood Housing and for you, our customers.

It gave them a chance to understand some of the important decisions we must make when running our business as well as some of the challenges we face.

Why we ran this session

We ran this session and other previous learning events like our 'We are all Selwood Housing' course to equip our customers with better knowledge of how Selwood Housing works.

The more knowledgeable you are, the better equipped you are to help us shape and improve our services.

What was the outcome of this session?

We received some great feedback and as a result. In the future, we will look at how we can share how we are performing and how we compare to other housing providers.

Thank you to all of our customers who took part and made a difference.

I'd like to learn more!

If you'd like to learn more about value for money, you can read our full value for money strategy document.