MP backs the money for life challenge and calls on local groups to get involved

South Lakes MP Tim Farron is encouraging education and training organisations to get involved in the Money for Life Challenge, a national competition to encourage young people to improve their money management skills.

The Money for Life Challenge is a national competition which provides grants for 16 to 24 year olds to run a project to improve money management skills in their communities. The most inspiring and impactful projects progress to the National Finals and the UK Grand Final, with great prizes on offer.

The Money for Life Challenge 2014/15 is now open and accepting applications until Friday 21st November. Applications can be made by visiting: www.moneyforlifechallenge.org.uk

16 to 24 year olds, in a further education, training or community organisation, can set up a team and apply for one of 300 grants to run a money management project in the local community. The Money for Life Challenge has been created in consultation with our further education and community partners: CollegesWales, National Skills Academy for Financial Services, The Wise Group, Youth Cymru, UK Youth, NOW and Young Scot.

Tim said: "Helping young people to learn financial skills and manage their money is very important and the Money for Life Challenge is the perfect way to do this. I hope many education and community organisations in Cumbria will enter teams for the Money for Life Challenge and encourage young people to take part and come up with innovative new projects.

"The Lib Dems believe it is essential to equip young people with the necessary skills to deal with the practical issues that they will face in adult life. I'm pleased that we have put forward plans for compulsory financial literacy lessons in schools as part of our pre-manifesto for the 2015 General Election."