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Money for Life Challenge Winners
Date: 22 May 2014
Congratulations to Woodley Wallet Watchers who won the grand prize and Stepping up who won the people's prize.
Two groups of young people are celebrating this week after being named the winners of the Lloyds Bank Money for Life Challenge. Woodley Wallet Watchers from Cheshire won the Grand Prize and Stepping Up from Perth won the People’s Prize. They won after beating off the national competition with their original and inspiring projects to improve money management skills among their friends, family, peers and wider community. The Grand Final took place in London at the IndigO2
The Money for Life Challenge is a national competition that provides £500 grants to empower teams of 16-24 year olds to develop innovative money management projects that impact their communities. The most inspiring and impactful projects progress to the National Finals and the UK Grand Final, with great prizes on offer.
Woodley Wallet Watchers
Woodley Wallet Watchers, made up of five 16 to 24 year olds from Starting Point Community Learning Partnership in Stockport, impressed the judging panel with its innovative approach to money management, by helping to modernise their local branch of the credit union through raising awareness of the benefits of using the credit union over using other forms of borrowing. They created a young saver booklet, a money-discussion blog and a prize draw with a cash deposit for their credit union account.
The Stepping Up team from Perth College in Scotland won the People’s Prize after impressing an audience of influential guests by showcasing their project and its innovative approach to money management. The team realised that in this current economic climate the ability to take advantage of ‘money off’ schemes is a great way to make money go further and make savings. The team aimed to raise awareness of these schemes through using the local Peel2Save card. By taking advantage of the offers available through the card, the team worked on highlighting how money could be saved but as well as by pooling resources and working together, the students could make more efficient use of the money they have and improve their financial capability.
The teams won £4,000 to be given to the charities of their choice, as well as Bonus Bonds for each team member, and the chance to work with a Lloyds Bank mentor for a year.
More about the Money for Life Programme
Money for Life is Lloyds Banking Group's award winning financial capability and personal money skills programme, targeted at the further education, adult and community learning sector, and delivered in partnership with further education sector partners in the four nations of the UK.
As part of the programme Money for Life are providing free training places on the Teach Me, Teach Others and Money Mentors courses - accredited financial education training for college staff and community workers to give them the skills they need to teach learners how to manage their money better. To find out more and apply for a course click here.
Money for Life was awarded a Big Tick and was highly commended in Business in the Community's Awards for Excellence 2012 and was re-accredited in 2013.