Newport youngsters reach Wales final of Lloyds Bank’s Money for Life Challenge
A team of seven young people from Newport is celebrating after impressing a panel of esteemed judges to reach the Wales final of Lloyds Bank’s Money for Life Challenge.
Money Monkeys
This national competition aims to inspire better money management skills in local communities across the UK.
The team of 17 to 18 year old learners are from ITEC, a training provider in Newport, fought off competition from all over Wales with their exciting project called Money Monkeys.
The group set up their project in January, when they were awarded a £500 grant from Money for Life to put their ideas into action. Since then, it has set up a financial awareness project aimed at giving young people the knowledge and skills they need as they progress to adulthood.
They targeted secondary schools and training centres across South Wales with resource packs on where to get advice and ran engaging activities gaining support from MPs and financial charities along the way.
Chloe Liddle, 18, from Money Monkeys, said: “I really enjoyed taking part in the Money for Life Challenge and think we have helped teenagers and young people be more aware of money issues. Our event was very successful and I have learnt a lot too.”
Money Monkeys will join four other Wales teams whose projects have shown the Money for Life Challenge judges that they have what it takes to improve not just their own money management skills, but those of their friends, families and even their local communities.
The shortlist has been selected from 300 entries across the UK, to contest at the Wales final of the Money for Life Challenge at The Royal College of Music and Drama on April 8, where each team will present their money management projects to a panel of high-profile judges.
The winner of the Wales final will win £1,000 to donate to the charity of their choice and each member of the team will receive £50 shopping vouchers.
The team’s sponsor, Emma Rees, a tutor at ITEC, said: “The challenge has been a great experience for the learners involved and I have seen them grow in confidence over the last few months. I am very proud of their achievements while being part of the challenge.”
David Rowsell, head of the Money for Life Programme at Lloyds Banking Group said: “The Money for Life Challenge helps young people develop the vital skills they need to best manage their money and I have been so impressed by the innovation, imagination and enthusiasm of all the teams who have taken part in this year’s Challenge. It’s been a really tough decision for our judges to decide which finalists will make it to the next stage and I wish them the very best of luck.”
The winner of the Wales final will head to the Money for Life Challenge Grand Final at the 02 Arena in London on May 15, where they’ll compete against teams from England, Northern Ireland and Scotland to claim the title of overall Money for Life Challenge winners this year.
They will have the chance to win £2,500 for a charity of their choice, £100 shopping vouchers and a Lloyds Banking Group mentor to help maintain their project for a year.
The four other Wales finalists are all based in Cardiff.
V21 Financial Independence Team, a group of 23 and 24 year old students from Vision 21, a Heath based charity, created a visual money management board game to help adults with learning needs understand issues such as coin recognition, the cost of living, budgeting and saving money.
Cadwyn Money Smart, a team of 16 to 21 year old tenants from Cadwyn Housing Association, made a short film to share information about services that provide advice for saving, budgeting and loans for other young people in their communities.
Fashion on a Budget, a team of 16 to 19 year olds from East Cardiff Llanedeyrn and Pentwyn Communities (ECLP), an anti-Poverty Programme at Trowbridge Community Centre, created a fashion show called ‘Style yourself on a budget’, which featured clothes purchased only from charity shops.
ARiAN (Apprentice Resources in A Nutshell), a team of 16 to 20 year old apprentices from John Lewis in Cardiff, created an online network to raise awareness on successful money management for young apprentices and designed and launched a webpage and blog to feature money management tips
For more information on the Money for Life Challenge, please go to moneyforlifechallenge.org.uk, or on Facebook at www.facebook.com/moneyforlifeuk and on Twitter at www.twitter.com/moneyforlifeuk.
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