05 April 2012

Winning Money for Life

Winners of the Wales final of the Money for Life Challenge 2012, who will carry the Welsh flag proudly in the UK Grand Final on 23 May, is the Don’t Buy Posh Save Your Dosh team from ACT Training Bridgend.  The Money for Life Challenge is a competition designed to find the most successful and innovative ways to improve the money management skills of learners, their friends, families and communities.

Money for Life Challenge is part of the Money for Life programme, a partnership between Lloyds Banking Group and further education sector partners in the four nations of the UK.  ColegauCymru / CollegesWales manages the programme in Wales in partnership with the National Training Federation for Wales.

The rising cost of food that leaves many people with little money at the end of the week to spend on other household essentials inspired the Don’t Buy Posh – Save Your Dosh team from ACT Training Bridgend to come up with money saving advice for young people. They targeted other young people at their training centre aged between 16-18 years who were often spending large amounts on their weekly shop without realising the savings they could make.  They also hosted taste sessions and cooked a meal for a local community group Mental Health Matters.

"It’s shocking and amazing to win and to represent our country in London," said Paige.  "The project has boosted our confidence and the teamwork has been brilliant."

Sarah Porretta, Head of the Money for Life Programme at Lloyds Banking Group, said: "I am so impressed with the originality, creativity and enthusiasm shown by the teams, which is really inspiring.

"The Challenge focuses on equipping a new generation with the skills they need to best manage their money, helping them to realise their everyday needs and lifetime goals and allowing them to develop these skills and put them into practice.

"We look forward to welcoming the winning team to the UK Grand Final to be held on May 23. I only wish we could take all the Wales finalists."

The other Wales finalists were Debtly Matters from St David’s Catholic College, Cardiff Drive Well Spend Less from ACT Training in Cardiff, Every Penny Counts from Port Talbot A4e Centre and Budget Brainstormers from Carmarthen Youth Project.

The teams came up with innovative ideas including money saving websites, advice on how to save on fuel and car costs, using drama and a workshop to spread money management skills to young people and buying own-brand foods to cut shopping bills.

Winner of the People’s Prize, which was voted for from nine commended projects, was Money Maze from Gower College Swansea, who developed a game with money management, numeracy and literacy questions.

Contact: Sylvia Davies on 029 2052 8384 or 07968 771913.

Notes to editors:

1. ColegauCymru / CollegesWales is a national educational charity that represents all 20 further education (FE) colleges and institutions in Wales. Its mission is to raise the profile of further education with key decision-makers to improve opportunities for learners in Wales. For further information about ColegauCymru / CollegesWales, and the colleges it represents, visit www.colegaucymru.ac.uk or www.collegeswales.ac.uk

About the Money for Life Challenge
2. The UK Grand Final takes place on 23 May 2012 in London. The winning team will be awarded £2,500 for a charity of their choice, £100 of Bonus Bonds for each member and a Lloyds Banking Group mentor for a year.
3. The Money for Life Challenge has been created in consultation with further education and community partners across the UK: National Skills Academy for Financial Services, Scotland’s Colleges, ColegauCymru/CollegesWales, Educational Guidance Service for Adults and Toynbee Hall.  Money for Life Challenge is part of the Money for Life programme, which aims to embed vital money management skills in further education sector institutions or community groups.
4. In Wales, ColegauCymru/CollegesWales manages the Money for Life programme in partnership with the National Training Federation Wales.
5. The final judging panel comprised senior representatives from ColegauCymru/ CollegesWales, the National Training Federation for Wales, Lloyds Bank, NIACE Dysgu Cymru, and NUS Cymru.


arian am oes / money for life

Success from Wales to Westminster

There was a distinct Welsh flavour to the Westminster reception organised by Lloyds Banking Group on 22 October to celebrate Money for Life, with two of the four speakers representing Wales. To follow the progress and successes of the programme in Wales, read the blog.

Teach Others

Dates of the forthcoming Teach Others - the professional development course on how to teach money management skills - are available from this link.  They're free and they're taking place the length and breadth of the country.

ColegauCymru, Uned 7, Cae Gwyrdd, Greenmeadow Springs, Tongwynlais Caerdydd, CF15 7AB. E:helo@colegaucymru.ac.uk Ff: 029 2052 2500
CollegesWales, Unit 7, Cae Gwyrdd, Greenmeadow Springs, Tongwynlais Cardiff, CF15 7AB. E:hello@collegeswales.ac.uk T: 029 2052 2500