Legacy of the Money for Life Challenge

An amazing community journey of discovery

Rachel Dodge

ColegauCymru’s Rachel Dodge, manager of the Money for Life Challenge in Wales, reflects on the successes and future of the Challenge.

Over the past four years, CollegesWales has managed Lloyds Banking Group’s Money for Life Challenge across Wales. I have been honoured to have been personally involved in this inspirational journey that has led to 16-24 year olds achieving outstanding results.

To help us achieve the widest reach possible in Wales, CollegesWales partnered with NTfW (2012-2014) and Youth Cymru (2015) and witnessed over 250 teams of young people getting involved by developing their own money management skills and raising awareness of financial capability in their communities.

Money for Life Wales Final 2014

Winners and finalists of the Money for Life Wales Final 2014, held at the Doctor Who Experience

The successes

Last year 100% of Project Sponsors surveyed said the Challenge had improved their team members’ confidence and participants overwhelmingly agreed that the challenge had improved their teamwork and project management skills.

On a UK level, Wales has had great success, winning the Money for Life Challenge UK Grand Final two years out of the four with a team from ACT Bridgend called ‘Don’t Buy Posh, Save Your Dosh’ in 2012, and this year’s winning team, ‘DOSH’ from Acorn Learning Solutions.

Money for Life UK Grand Final 2015 winners

Money For Life Challenge UK Grand Final 2015 winners: team DOSH

The range of projects has been incredible.  They have included:

  • Showing a community how to save money by cooking from scratch.
  • A Theatre in Education piece on money and peer pressure.
  • Developing a section in a local charity shop for teenage clothing.
  • Amazing websites that have aimed to help individuals to save money.

I’ve also been very proud to witness two of last year’s Wales National Finalists continuing on their own Money for Life journey by using additional Legacy grant funding.  Cadwyn Housing has continued its project on using peer teaching on financial issues with tenants and Vision 21 has developed its fantastic money board game for adults with additional learning needs.

Money Life Wales Final 2014

The Money for Life Wales Final 2014, including the Vision 21 team that went on to win a Legacy Grant

Challenge closes …

Lloyds Banking Group has recently announced that 2014-2015 was the last year of the Challenge.

We would like to take this opportunity to personally thank everyone who has embraced the Challenge with so much enthusiasm over the last four years especially those who have given up their time and expertise to be part it. We know the legacy of the Money for Life Challenge will continue to have a positive impact for many years to come.

… with a final opportunity to win legacy grants

The quality of the 2015 Money for Life Challenge projects and the impact they are having on communities across the UK has been so high that we wanted to help some of the projects to carry on and grow.

Consequently, Lloyds is offering  ten grants of £1,000 to help some of the teams continue to make a lasting impact by improving the money management skills of their friends, families and communities. The grants are open to the 51 National Finalists from the 2014-15 academic year and the closing date for applications is 3 July 2015.

We hope that a number of Welsh teams will carry on and grow their projects over the next year.

On a personal note

On a personal level I have been involved in the Money for life Challenge for the past four years, first as a project sponsor then as project manager.  I have enjoyed every minute of witnessing young people develop by engaging in a ‘real-life’ learning situation.  I have been constantly impressed by the teams and their passionate project sponsors and have been extremely proud of what they have all achieved.  Well done to everyone who has been involved – you are an inspiration!

Money for Life 2014 selfie with Jason Mohammad

Money for Life Challenge: a lot of learning, but a lot of fun, too!

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About Claire Roberts

Claire.roberts [a] colegaucymru.ac.uk
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