Money for Life Programme

July 2013: Beith sports charity scoop £2,500 thanks to success of local youngsters in Money for Life Challenge

nicola.biles — Thu, 25 Jul 2013 14:00:30 +0000

Kilwinning youngsters donate £2,500 to local charity after reaching final of Bank of Scotland’s Money for Life Challenge

A team of young people from James Watt College, Kilwinning, have donated £2,500 to a local charity after they were crowned runners up in Bank of Scotland’s Money for Life Challenge, a national competition designed to inspire better money management skills in their community.

At a ceremony which took place today, in Kilwinning at James Watt College, the team of young people aged between 17 and 23, donated the charity cheque to Beith Community Development Trust.

The Trust was established in 2009 after local groups, clubs and teams joined forces to support local sports facilities which were suffering due to financial pressures. As a result of their activities, Beith Local Authority provided £300,000 towards the refurbishment of new sports facilities in the area.

Beith Community Trust was the chosen charity for JWCMoney1 who fought off stiff competition from all over Scotland with their innovative project designed to increase awareness around the importance of financial budgeting and financial education for students and the local community. The team joined forces with their local Credit Union 1st Alliance Credit, contacted local MPs and secured the support of Young Scot to assist in launching their project.

The JWCMoney1 team attended the Money for Life Challenge UK Grand Final in Central London in May, where they competed against teams from England, Wales and Northern Ireland.

Caroline Watson from Beith Community Development Trust said: “We are delighted to be JWCMoney1’s chosen charity following their incredible success inBank of Scotland’s Money for Life Challenge. It’s been a tough few years for sports in the area so this donation is a real boost for us. JWCMoney1 should be very pleased of how well they have done in this competition and we wish them many thanks and all the best for the future.”

Brian Cooper, Local Director at Bank of Scotland, said: “We are incredibly proud of JWCMoney1. Today marks a culmination of over a year’s hard work for the team who have taken a great idea and turned it into a project which has the potential to change lives. As part of the Money for Life Challenge, teams select a charity to donate their charity cheque to; Beith Community Trust is a really important organisation for Kilwinning and it’s fantastic to see JWC Money1 making a tangible difference to their local community yet again.”

Margaret Burgess, MSP for Cunninghame South, said: “JWCMoney1’s project was impressive from the get-go, through the way they publicised their great work to the development of a wide range of skills across the team of young people. I’d like to extend my congratulations to all involved at James Watt College and to their partners at 1st Alliance Credit Union, and I’m delighted to see the money go back into our local community through Beith Community Development Trust .”

Money for Life Challenge is part of the Money for Life programme, a unique partnership between Lloyds Banking Group and further education sector partners in the four nations of the UK, including College Development Network and Young Scot in Scotland. The competition aims to find the most successful and innovative ways to improve the money management skills of learners, their friends, families and communities. Team members are between 16 and 24 years old and in further education, work based learning or adult community learning.

Young people interested in taking on the Challenge should keep an eye out for news of the 2013/2014 competition on moneyforlifechallenge.org.uk, or join us on Facebook at facebook.com/moneyforlifeuk and on Twitter at twitter.com/moneyforlifeuk

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

About Money for Life

Money for Life is Lloyds Banking Group’s award-winning personal money management programme, targeted at young people and adults in the wider Further Education, work-based learning and community learning sectors. Lloyds has invested £4million in the programme to date and has committed a further £4million over the next two years.

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

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.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

Money for Life was awarded a Big Tick and was highly commended in Business in the Community’s Awards for Excellence 2012, and was also awarded a special mention in the Independent newspaper’s Peer Awards 2012.

About the Money for Life Challenge

16 to 24 year olds in further education, work based learning, adult community learning or a training organisation can set up a team and apply for one of 250 grants to run a money management project in the local community.

The Challenge empowers learners in further education, work based learning, adult community learning or training organisations to develop innovative, grass-roots money management solutions.

The Money for Life Challenge has been created in consultation with our further education and community partners: CollegesWales, National Skills Academy for Financial Services, National Training Federation for Wales, College Development Network, Toynbee Hall and Young Scot. Our partners are instrumental in the delivery and co-ordination of the Challenge.

About College Development Network

College Development Network supports the sector to deliver best practice, share innovations and develop colleges and their staff. We do this by:

Delivering CPD activities for college staff
Providing advice, guidance and support on curriculum, learning, teaching and assessment
Facilitating development networks for college staff
Recognising sector achievements through annual awards
Delivering bespoke consultancy and tailored professional learning experiences
Sharing learning tools and resources.

About Young Scot

Young Scot is the national youth information and citizenship charity for Scotland. There are over 461,500 Young Scot NEC Cardholders across Scotland.

Young Scot provides all young people in Scotland aged 11-26 with information, ideas and opportunities to enable them to make informed decisions and choices, turn their ideas into action and take advantage of opportunities available throughout Scotland and Europe.

www.youngscot.org – The national youth information portal for Scotland
www.youngscotextra.org – The national information portal for Scotland for young people out-of-school
www.youngscot.net – Young Scot’s corporate website

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July 2013: Mums struggling with cost of first baby

nicola.biles — Wed, 03 Jul 2013 08:00:37 +0000

New report shows a range of costs are taking parents by surprise but emotional support from partners matters most

The costs of having a first baby are taking British mums by surprise – and many regret spending too much on a range of baby items ranging from prams, nappy bins, baby clothes, branded nappies to breast pumps, according to a new report.

In First Baby in Breadline Britain, a report by family services charity Family Action and Lloyds Banking Group’s Money for Life Programme, mums revealed how financially and emotionally life-changing having a first baby can be.

A survey conducted online by parenting club Bounty to more than 2,000 mums showed the biggest shock is the cost of childcare – with nearly a quarter (23%) of mums nationwide saying it’s the expenditure they were least prepared for. This was followed by the cost of formula milk (16%) and paying to keep the house warm (14%).

Even though many reported struggling with a range of unexpected costs, mums said getting emotional support from their partners was more important than material help.

More than two thirds (67%) of mums said providing emotional support was the most important thing a partner could help with. However, and unsurprisingly, 51% said their partner bringing home a wage or salary was crucial too, during the period when most mums stay at home to focus on childcare.

Almost a third of British mums said it would be most helpful if their partner took on more of the household chores. But only one in ten said it was paramount that partners get up in the middle of the night to feed the baby.

The report shows that families on different incomes feel the financial squeeze differently. Mums on low incomes are least prepared for the cost of keeping their house warm – 19% of these households chose heating as the biggest price shock (compared with 14% of higher income families), while only 13% said childcare (compared with 26% of wealthier households).

Poorer families are also less likely to be prepared for the cost of disposable nappies than those who are better off. These mums – as well as younger mums and those living in London – are also most likely to say they will spend less on baby items including prams, nappy bins, baby clothes, branded nappies and breast pumps if they have another child.

One in 10 families said cutting ‘essential’ household spending, for example on heating their home and putting food on the table, is the most helpful way to make ends meet in the first year. Poorer families are almost twice as likely to admit to cutting essential spending as the better off (13% on the lowest incomes said this had helped them manage their money most, compared with 7% on higher incomes).

Younger mums, aged between 16 and 24, are least prepared for the cost of baby goods such as prams, car seats and baby baths.

Younger mums are also more likely to admit to cutting essential spending than older mums to stay afloat. Where the women live also makes a difference. In London, only 3% of mums say cutting spending on heating and eating helped the most, compared with 14% in the South East and even more in Northern Ireland.

Overall, some 14% of mums said resorting to overdrafts, credit cards or loans most helped them manage the family finances, suggesting many families are struggling to cope with the additional costs of having a baby.

First Baby in Breadline Britain reveals that mums who have already been through the experience have plenty of advice for other expectant mums.

A full 70% of women polled said new mums should take more advantage of hand-me-downs, cutting the cost of buying unnecessary new clothes that babies will soon outgrow.

And 63% stressed the importance of saving and budgeting in the months before the birth.

More than half (55%) of mothers advised couples starting a family to ‘be prepared to work at your relationship’ with their partner.

Some of the mums helped by Family Action feel exhausted or depressed during pregnancy and in the first year after birth – mums we spoke to also notice the impact on their partners too.

And a majority (54%) of those polled recommended investigating what local support services, such as children’s centres, are available.

Family Action, which provides services to disadvantaged families and runs a network of children’s centres across the country, has linked up with Lloyds’ Money for Life Programme and listened to mums across the country to give parents these top tips for the first year :

Plan a budget of all your income and bills and expenses – work out how much you’ll need to get by, and where you might be able to cut back
Don’t buy new if you can buy hand-me-downs. Babies are too young to remember or care
Form a buying group with other parents to make savings bulk buying things like nappies, shampoo, toothpaste and even perishable goods
Sell your clutter on eBay. Whether it’s unwanted presents or your children’s outgrown toys, this is a great way of earning a bit of extra money

Family Action also runs Perinatal Support Projects across the country, giving mums the emotional support they need, when they need it most. Tips include:

If you’re feeling the baby blues don’t bottle it in – talk to your doctor, or someone at your local children’s centre
Having a baby can be a lonely experience – look out for mother and baby groups in your area and meet some new friends

David Holmes, Family Action Chief Executive, said: “This report shows just how vital it is for first-time parents to plan ahead before the baby is born about how they will handle both money and relationship issues. It also shows many women are struggling with the unexpected costs of a first baby. The report demonstrates why investment in better services and support, such as those provided by children’s centres, particularly for lower income and disadvantaged families is so important”

Sarah Porretta, Head of Lloyds Banking Group’s Money for Life programme, said: “As this report shows, while having your first baby is an incredibly exciting time for families, it can put a big strain on budgets and brings with it a number of emotional pressures. Money for Life’s partnership with Family Action is designed to support more families to develop the knowledge and confidence to manage their money well and so be better able to cope with major life events and milestones like a first baby. We are continuing to work with Family Action to deliver free, face-to-face workshops to low income and disadvantaged households around the country, and our employees are committed to helping families with issues that affect their daily lives.”

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

This report was produced by Family Action and supported by Lloyds Banking Group’s personal money management programme, Money for Life. The findings of the report are based on national online polling provided by parenting club Bounty, semi-structured focus group discussions with Family Action service users, and individual questionnaires completed by focus group participants.

Data for the national poll was collected via online questions run on Bounty’s Word of Mum omnibus research panel between 18 and 27 May 2013. A total of 2,301 women participated, ranging from women in the early stages of pregnancy through to mums with a youngest child aged 5 years.

About Family Action

Family Action has been a leading provider and services to disadvantaged and socially isolated families since 1869. We work with over 45,000 children and families a year by providing practical, emotional and financial support through over 100 services based in communities across England. A further 150,000 people benefit from our educational grants and information service. We tackle some of the most complex and difficult issues facing families today – including domestic abuse, mental health problems, learning disabilities and severe financial hardship.

About Money for Life

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

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.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

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May 2013: Lisburn youths triumph in UK-wide money skills competition

vicki.wright — Wed, 05 Jun 2013 11:47:36 +0000

South Easter Regional College team take top prize at Halifax’s Money for Life Challenge UK Grand Final

A group of young people from Lisburn are celebrating today after being crowned champions at Halifax’s Money for Life Challenge UK Grand Final in London last night. The team claimed the prestigious national title after beating off stiff competition from teams across the UK with Bouncing Babies, their original and inspiring project to improve money management skills among their friends, family, peers and wider community.

Bouncing Babies impressed a panel of high-profile judges – including Graham Lindsay, Group Director for Responsible Business at Lloyds Banking Group and Caroline Rookes, Chief Executive of the Money Advice Service – with its innovative approach to money management, by setting up a money management support group for young mothers, creating information leaflets facilitating sessions to advise on everything from student finance, managing finances and childcare costs, to living well for less, healthy recipes on a budget, job opportunities and benefits.

The team of four money savvy 19 to 21 year olds from South Eastern Regional College was awarded a £500 grant from Halifax’s Money for Life Challenge in December 2012 to deliver their project over the winter, before going on to beat 250 other participating teams with their award-winning community project. Bouncing Babies already scooped the title of Northern Ireland champions in April so last night were competing against the best teams from England, Scotland and Wales.

The young people presented their project to an audience of 150 at last night’s ceremony, which was hosted by personal finance expert Sarah Willingham and held at the London Film Museum on the Southbank, Central London. The judges noted that they were particularly impressed by Bouncing Babies’

Tammy Corbett, 19, from Bouncing Babies says: “Taking part in the Money for Life Challenge was already a life changing experience for me so now that we’ve won, I’m absolutely speechless! None of us ever thought we’d be so interested and inspired by money skills, but now we’ve got started we’re hooked. We’ve already passed on what we’ve learned to lots of people in our community and hope to keep up the good work.”

Sarah Willingham, personal finance expert and Grand Final host says: “Bouncing Babies are such deserving winners of the Money for Life Challenge – I cannot congratulate them enough! I’m passionate about improving people’s money skills, so presenting last night’s Grand Final was an incredibly rewarding and inspiring experience, especially hearing the challenges that so many of the young people overcome to make a positive difference in their communities. I wish all of the Challenge teams the best of luck in the future and feel confident knowing that their newfound money management skills will stay with them for life.”

Sarah Porretta, Head of the Money for Life programme at Lloyds Banking Group, says: “Last night’s Money for Life Challenge Grand Final was the culmination of months of hard work by young people up and down the country, and a fitting celebration of all they’ve achieved. Bouncing Babies are worthy winners- they combined business acumen with a heartfelt commitment to nurture the confidence of young Mums in Northern Ireland to get back into education and secure their family’s future.”

The young people have already won £1,000 to donate to charity of their choice following their success at their [nation] final, and with their win yesterday they have received a further £2,500 for charity. Each member of the team will also take away with £100 of Bonus Bonds plus the chance to work with a Lloyds Banking Group mentor for a year.

Last night’s judging panel was chaired by Graham Lindsay, Group Director for Responsible Business at Lloyds Banking Group, and made up of Caroline Rookes, Chief Executive of the Money Advice Service, Emma Thomas, Chief Executive of YouthNet, Tracey Bleakley, Chief Executive of the Personal Finance Education Group, or pfeg, Clare Francis, Editor-in-Chief of Moneysupermarket.com and 2012 Money for Life Challenge winner Paige Sparrow from Bridgend in Wales.

The other finalists in last night’s Grand Final were Act on Money from Whitechapel, London; JWCMoney1 from North Ayrshire, Scotland; and Grow and Save from Cardiff, Wales. Money for Life Challenge is part of the Money for Life programme, a unique partnership between Lloyds Banking Group and further education sector partners in the four nations of the UK.

For more information on the Money for Life Challenge, please go to moneyforlifechallenge.org.uk, or join us on Facebook at facebook.com/moneyforlifeuk and on Twitter at twitter.com/moneyforlifeuk

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

About Money for Life

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

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.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

About the Money for Life Challenge

The Money for Life Challenge is a national competition which provides small 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.
16 to 24 year olds in further education, work based learning, adult community learning or a training organisation can set up a team and apply for one of 250 grants to run a money management project in the local community.

The Challenge empowers learners in further education, work based learning, adult community learning or training organisations to develop innovative, grass-roots money management solutions.

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May 2013: Coventry youths win audience vote in UK-wide money skills competition

vicki.wright — Wed, 05 Jun 2013 11:48:42 +0000

Hereward College team scoop People’s Prize at Lloyds TSB’s Money for Life Challenge UK Grand Final

A group of young people from Coventry are celebrating today after being named People’s Prize winners at Lloyds TSB’s Money for Life Challenge UK Grand Final in London last night. The team claimed the title after beating off stiff competition from teams across the UK with Savvy Savers, their original and inspiring project to improve money management skills among their friends, family, peers and wider community.

Savvy Savers impressed an audience of 150 influential guests with its innovative approach to money management. The team realised that a lot of college attendees were not in control of their own finances and did not save money in any form, so as well as the credit collection point they set up money management workshops for those with more complex learning disabilities and their carers. The workshops helped students and carers understand the benefits of saving money and the team created a range of resources designed to make saving money a lot easier.

The team of three money savvy 18 and 19 year olds from Hereward College was awarded a £500 grant from Lloyds TSB’s Money for Life Challenge in December 2012, to deliver their project over the winter before going on to win the UK People’s Prize award for their community project. Savvy Savers already scooped the title of England People’s Prize champions in April so last night were competing against the best teams from Scotland, Wales and Northern Ireland.

The young people showcased their project to guests at last night’s ceremony, which was hosted by personal finance expert Sarah Willingham and held at the London Film Museum on the Southbank, Central London.

Martin Berisford from Savvy Savers says: “Taking part in the Money for Life Challenge was already a life changing experience for me and to win the People’s Prize through a popular vote is priceless! This time last year we never would have got involved in community projects and now it’s all we can think about! Our money skills are better than ever and we just want to carry on sharing them with others!

Sarah Willingham, personal finance expert and Grand Final host says: “Savvy Savers are thoroughly deserving People’s Prize winners of the Money for Life Challenge – I cannot congratulate them enough! I’m passionate about improving people’s money skills, so presenting last night’s Grand Final was an incredibly rewarding experience, especially hearing the challenges that so many of the young people overcome to make a positive difference in their communities. I wish all of the Challenge teams the best of luck in the future and feel confident knowing that their newfound money management skills will stay with them for life.”

Sarah Porretta, Head of the Money for Life programme at Lloyds Banking Group, says: “Last night’s Money for Life Challenge Grand Final was the culmination of months of hard work by young people up and down the country, and a fitting celebration of all they’ve achieved. I have been so impressed throughout the process with Savvy Savers’ project. They have created a savings culture in their college and become money management gurus- helping other students manage their finances.”

Following last night’s triumph the team will receive £1,500 for the charity of their choice plus £50 in Bonus Bond vouchers for each team member. The other People’s Prize finalists in last night’s Grand Final were Glamping on a Budget from Scotland, Less Dash More Cash from Northern Ireland, and Rampart Rebels from Wales. Money for Life Challenge is part of the Money for Life programme, a unique partnership between Lloyds Banking Group and further education sector partners in the four nations of the UK, including Toynbee Hall and NSAFS in England.

For more information on the Money for Life Challenge, please go to moneyforlifechallenge.org.uk, or join us on Facebook at facebook.com/moneyforlifeuk and on Twitter at twitter.com/moneyforlifeuk

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

About Money for Life

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

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.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

About the Money for Life Challenge

The Challenge empowers learners in further education, work based learning, adult community learning or training organisations to develop innovative, grass-roots money management solutions.

About NSAFS

• The National Skills Academy for Financial Services is a unique independent employer-led charitable organisation dedicated to growing talent and building professionalism in the UK financial services industry. Its goal is to support future, emerging and existing talent and to

ensure the financial services industry is productive and efficient to compete in global markets.

• The Skills Academy provides a diverse range of business and talent development support – and all tailor-made for the industry’s needs. Its educational programmes can be accessed in-house, online and locally through the Skills Academy Training Provider Partner Network. As a registered charity, its aim is to provide value-added and cost-effective programmes. Income generated is re-invested in innovative schemes to further support the industry and development of its people across many business areas. For more information, please visit: www.nsafs.co.uk.

• Financial education has been a part of the Skills Academy’s work since its inception and is funded by financial services sponsors. We have a track record of delivering personal money management skills development to the community, especially to young adult and community learners in further education colleges.
o The Money for Life Challenge is a national competition inviting groups to submit new and innovative projects for better development of money skills. Through the development of Teach Me and Teach Others, two bespoke qualifications awarded by
OCN London, the Skills Academy is providing volunteers and staff in community charities across the UK with the opportunity to get the right skills to help other people understand how to manage their money. Both projects are funded by Lloyds Banking Group through its Money for Life programme.

• The latest Skills Academy newsletter is available for download at: http://www.nsafs.co.uk/news-events/newsletter-2/

About Toynbee Hall

Toynbee Hall is a charity established in 1884, which delivers practical and innovative programmes that meet the needs of local people, improve conditions and enable communities to fulfil their potential.
They make a difference by producing local programmes that have the power to become national solutions. Toynbee Hall delivers a wide range of Financial Inclusion and Capability programmes, including supporting young people to become financially aware and responsible. Toynbee Hall founded and runs Transact, the national forum for financial inclusion, to create opportunities for sharing best practice and information across the country on the full range of Financial Inclusion issues, from policy to practice and from organisational capacity building to welfare reform programmes. http://www.toynbeehall.org.uk/. Www.transact.org.uk

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May 2013: Kilwinning youths triumph in UK-wide money skills competition

vicki.wright — Wed, 05 Jun 2013 11:48:03 +0000

James Watt College team take runners up prize at Bank of Scotland’s Money for Life Challenge UK Grand Final

A group of young people from Kilwinning are celebrating today after being named runners up at Bank of Scotland’s Money for Life Challenge UK Grand Final in London last night. The team claimed the prestigious national title after beating off stiff competition from teams across the UK with JWCMoney1, their original and inspiring project to improve money management skills among their friends, family, peers and wider community.

JWCMoney1 impressed a panel of high-profile judges – including Graham Lindsay, Group Director for Responsible Business at Lloyds Banking Group and Caroline Rookes, Chief Executive of the Money Advice Service – with its innovative approach to money management. Their project was designed to increase awareness around the importance of financial budgeting and financial education for students and the local community

The team of money savvy 17 to 23 year olds from James Watt College was awarded a £500 grant from Bank of Scotland’s Money for Life Challenge in December 2012 to deliver their project over the winter, before going on to beat 250 other participating teams with their award-winning community project. JWCMoney1 already scooped the title of Scotland champions in April so last night were competing against the best teams from Wales, England and Northern Ireland.

Thomas Sands, 21, from JWCMoney1 says: “Taking part in the Money for Life Challenge was already a life changing experience for me so now that we’ve been named runners up, I’m absolutely speechless! None of us ever thought we’d be so interested and inspired by money skills, but now we’ve got started we’re hooked. We’ve already passed on what we’ve learned to lots of people in our community and hope to keep up the good work.”

Sarah Willingham, personal finance expert and Grand Final host says: “JWCMoney1 are such deserving runners up of the Money for Life Challenge – I cannot congratulate them enough! I’m passionate about improving people’s money skills, so presenting last night’s Grand Final was an incredibly rewarding and inspiring experience, especially hearing the challenges that so many of the young people overcome to make a positive difference in their communities. I wish all of the Challenge teams the best of luck in the future and feel confident knowing that their newfound money management skills will stay with them for life.”

Sarah Porretta, Head of the Money for Life programme at Lloyds Banking Group, says: “Last night’s Money for Life Challenge Grand Final was the culmination of months of hard work by young people up and down the country, and a fitting celebration of all they’ve achieved. JWC Money 1 were very worthy winners. Driven by personal experience of vulnerable young people getting into difficulties with payday loans they have set up a fast-growing credit union in their college which they hope to scale up to benefit thousands of young people in Scotland.”

The young people have already won £1,000 to donate to charity of their choice following their success at their Scotland final, and with their win yesterday they have received a further £2,500 for charity. Each member of the team will also take away with £100 of Bonus Bonds plus the chance to work with a Lloyds Banking Group mentor for a year.

The other finalists in last night’s Grand Final were Bouncing Babies, Northern Ireland; Grow and Save, Wales; and Act on Money, England. Money for Life Challenge is part of the Money for Life programme, a unique partnership between Lloyds Banking Group and further education sector partners in the four nations of the UK, including College Development Network and Young Scot in Scotland.

For more information on the Money for Life Challenge, please go to moneyforlifechallenge.org.uk, or join us on Facebook at facebook.com/moneyforlifeuk and on Twitter at twitter.com/moneyforlifeuk

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

About Money for Life

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

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.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

About the Money for Life Challenge

The Challenge empowers learners in further education, work based learning, adult community learning or training organisations to develop innovative, grass-roots money management solutions.

About College Development Network

College Development Network supports the sector to deliver best practice, share innovations and develop colleges and their staff. We do this by:
• Delivering CPD activities for college staff
• Providing advice, guidance and support on curriculum, learning, teaching and assessment
• Facilitating development networks for college staff
• Recognising sector achievements through annual awards
• Delivering bespoke consultancy and tailored professional learning experiences
• Sharing learning tools and resources.

About Young Scot

Young Scot is the national youth information and citizenship charity for Scotland. There are over 461,500 Young Scot NEC Cardholders across Scotland.
Young Scot provides all young people in Scotland aged 11-26 with information, ideas and opportunities to enable them to make informed decisions and choices, turn their ideas into action and take advantage of opportunities available throughout Scotland and Europe.
www.youngscot.org – The national youth information portal for Scotland
www.youngscotextra.org – The national information portal for Scotland for young people out-of-school
www.youngscot.net - Young Scot’s corporate website

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April 2013: Bouncing Babies take top prize at Money for Life Challenge Northern Ireland Final

nicola.biles — Wed, 05 Jun 2013 11:46:32 +0000

Lisburn youngsters’ money management skills recognised at Northern Ireland final of prestigious competition

A team of young people from South Eastern Regional College (SERC), Lisburn is celebrating success today after being crowned winners at the Northern Ireland final of Halifax’s Money for Life Challenge, a national competition designed to inspire better money management skills in communities across the UK.

The team of students aged between 19 and 21 fought off competition from all over Northern Ireland at yesterday’s ceremony at Stormont in Belfast with their inspirational project, called Bouncing Babies, where they set up a money management support group for young mothers. The team created information leaflets and support sessions for young mums and have facilitated sessions to advise on everything from student finance, managing finances and childcare costs, to living well for less, healthy recipes on a budget, job opportunities and benefits.

The Bouncing Babies project convinced judges of the young people’s winning ability to not only improve their own money management skills, but to use these to have a positive impact on their local community.

The team has now won £1,000 to donate to a charity of their choice and £50 shopping vouchers for each team member. Plus the young people will now progress to the Money for Life Challenge UK Grand Final in Central London on 23 May, where they’ll compete against teams from England, Scotland and Wales to claim the title of overall Money for Life Challenge winners.

Emma Woodward, 20, from Bouncing Babies says:
“The Money for Life Challenge has been a fantastic experience and the team have learnt so much since taking part. We are delighted to win the Northern Ireland Final and are really looking forward to London. This experience has given us the opportunity to meet a wide range of wonderful people and we have all benefited as a result. One mum has started on the road to university! I’ve also gained confidence in the ability to manage time and money and to socialise with new people.”

The team’s sponsor Karyn Eldon, a Assistant Head of school at SERC says:
“I’m really proud of the team and the effort they have put in to make this project such a success. This was an inspirational project that really helped guide young mums through money management. The support sessions not only helped give young mums the confidence to manage their money but were also a place where they could meet other mums and develop lasting friendships.

“Involvement in this project has given the team a great boost and they’ve loved every minute of it. Winning the Northern Ireland final is a great achievement and they deserve to be celebrated, and of course I’m hoping they can go all the way to the win the Money for Life UK Grand Final too!”

Sarah Porretta, Head of the Money for Life Programme at Lloyds Banking Group, said: “We’re delighted to announce Bouncing Babies as the winners of the Money for Life Challenge Northern Ireland final. Our judges were incredibly impressed not just by the team’s effort and enthusiasm, but the fact they made such a fantastic contribution to improving the money management skills of their community.

“The Money for Life Challenge is now in its second year and it’s inspiring to see so many young people being empowered to learn new ways to manage their money well and support others by passing on these skills.

“We look forward to welcoming Bouncing Babies to the Grand Final on 23 May and wish them all the best of luck.”

The winning team at the Grand Final on 23 May will win £2,500 for a charity of their choice, £100 of shopping vouchers for each team member and a Lloyds Banking Group mentor. There will also be an overall People’s Prize winner selected by guests at the event.

The panel of judges included Janine Maher, Money Advice Service Policy manager for Northern Ireland; Sandara Kelso-Robb, Executive Director, Lloyds TSB Foundation for Northern Ireland; Fiona Kidd, Executive Committee NUS-USI; Joanne Patterson, Business Development Officer, Open College Network Northern Ireland; and Szymon Pliszka, Money for Life Challenge 2012 Grand Finalist from Reid Kerr College, Scotland. The panel selected Bouncing Babies from a shortlist of five teams from across Northern Ireland.

Money for Life Challenge is part of the Money for Life programme, a unique partnership between Lloyds Banking Group and further education sector partners in the four nations of the UK. The competition aims to find the most successful and innovative ways to improve the money management skills of learners, their friends, families and communities. Team members are between 16 and 24 years old and in further education, work based learning or adult community learning.

For more information on the Money for Life Challenge, please go to moneyforlifechallenge.org.uk, or join us on Facebook at facebook.com/moneyforlifeuk and on Twitter at twitter.com/moneyforlifeuk

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

About Money for Life

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

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.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

About the Money for Life Challenge

The Challenge empowers learners in further education, work based learning, adult community learning or training organisations to develop innovative, grass-roots money management solutions.

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April 2013: James Watt College’s JWCMoney1 take top prize at Money for Life Challenge Scotland Final

nicola.biles — Tue, 11 Jun 2013 10:16:04 +0000

Edinburgh youngsters’ money management skills recognised at Scotland final of prestigious competition

A team of young people from James Watt College, Kilwinning are celebrating success today after being crowned winners at the Scotland final of Bank of Scotland’s Money for Life Challenge, a national competition designed to inspire better money management skills in their community.

The team of young people aged between 17 and 23 fought off competition from all over Scotland at yesterday’s ceremony at The Hub in Edinburgh with their innovative project which increased awareness around the importance of financial budgeting and financial education for students and the local community. Their project convinced judges of the team’s winning ability to not only improve their own money management skills, but to use these to have a positive impact on their fellow students and the local community.

The JWCMoney1 team has won £1,000 to donate to a charity of their choice and £50 shopping vouchers for each team member. Plus the young people will now progress to the Money for Life Challenge UK Grand Final in Central London on 23 May, where they’ll compete against teams from England, Wales and Northern Ireland to claim the title of overall Money for Life Challenge winners.

Thomas Sands, aged 21, from JWCMoney1 says: “It’s been such a challenging project but we’ve all learnt so much and it’s so great to win the Scottish Challenge final – thank you to the judges for choosing us! We can’t wait for the Grand Final in May, we all feel so proud of how we’ve worked together to make the project such a success.”

The team’s sponsor, Kenneth Allen, lecturer at James Watt College says: “’The Money for Life Challenge provided an invaluable experience for the team and for them to win the Scottish final is the icing on the cake. I am so proud of the whole team – they have all worked incredibly hard and it’s been fantastic to see them learn and develop key life skills over the course of the project.”

Sarah Porretta, Head of the Money for Life Programme at Lloyds Banking Group, said: “We’re delighted to announce JWC Money1 as the winners of the Money for Life Challenge Scotland final. Our judges were incredibly impressed by the team’s passion for educating their community about affordable forms of borrowing, spurred on by experiences of friends and family members who had got into financial difficulty.

“We look forward to welcoming JWC Money 1 to the Grand Final on 23 May and wish them all the best of luck.”

The panel of judges selected JWCMoney1 from a shortlist of five teams from across Scotland.

Money for Life Challenge is part of the Money for Life programme, a unique partnership between Lloyds Banking Group and further education sector partners in the four nations of the UK, including The College Development Network and Young Scot in Scotland. The competition aims to find the most successful and innovative ways to improve the money management skills of learners, their friends, families and communities. Team members are between 16 and 24 years old and in further education, work based learning or adult community learning.

For more information on the Money for Life Challenge, please go to moneyforlifechallenge.org.uk, or join us on Facebook at www.facebook.com/moneyforlifeuk and on Twitter at www.twitter.com/moneyforlifeuk

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

About Money for Life
Money for Life is Lloyds Banking Group’s award-winning personal money management programme, targeted at young people and adults in the wider Further Education, work-based learning and community learning sectors. Lloyds has invested £4million in the programme to date and has committed a further £4million over the next two years.

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

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.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

About the Money for Life Challenge
The Money for Life Challenge is a national competition which provides small 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.
16 to 24 year olds in further education, work based learning, adult community learning or a training organisation can set up a team and apply for one of 250 grants to run a money management project in the local community.

The Challenge empowers learners in further education, work based learning, adult community learning or training organisations to develop innovative, grass-roots money management solutions.

About College Development Network
College Development Network supports the sector to deliver best practice, share innovations and develop colleges and their staff. We do this by:
•   Delivering CPD activities for college staff
•   Providing advice, guidance and support on curriculum, learning, teaching and assessment
•   Facilitating development networks for college staff
•   Recognising sector achievements through annual awards
•   Delivering bespoke consultancy and tailored professional learning experiences
•   Sharing learning tools and resources.

About Young Scot
Young Scot is the national youth information and citizenship charity for Scotland. There are over 461,500 Young Scot NEC Cardholders across Scotland.
Young Scot provides all young people in Scotland aged 11-26 with information, ideas and opportunities to enable them to make informed decisions and choices, turn their ideas into action and take advantage of opportunities available throughout Scotland and Europe.
www.youngscot.org – The national youth information portal for Scotland
www.youngscotextra.org – The national information portal for Scotland for young people out-of-school
www.youngscot.net - Young Scot’s corporate website

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April 2013: Grow and Save take top prize at Money for Life Challenge Wales Final

nicola.biles — Wed, 05 Jun 2013 11:48:57 +0000

Cardiff youngsters’ money management skills recognised at Wales final of prestigious competition

A team of young people from Cardiff is celebrating success today after being crowned winners at the Wales final of Lloyds TSB Money for Life Challenge, a UK-wide competition designed to inspire better money management skills within communities.

The team of learners between the ages of 17 and 19 fought off competition from all over Wales at yesterday’s ceremony in Cardiff with their innovative project to provide kits to help people save money by growing their own fruit, vegetables and herbs.Their project convinced judges of the team’s winning ability to not only improve their own money management skills, but to use these to have a positive impact on their local community.

Grow and Save from ITEC Training Solutions will now progress to the Money for Life Challenge UK Grand Final in Central London on 23 May, where they’ll compete against teams from Scotland, Northern Ireland and England to claim the title of overall Money for Life Challenge winners. Plus the young people have won £1,000 to donate to a charity of their choice and £50 shopping vouchers for each team member.

Farhin Begum, 19, from Grow and Save said: “We are just overwhelmed to win the award. It has boosted or confidence even more and we are going to carry on developing the project. We plan to expand it from 20 primary schools and nurseries in Cardiff to hospitals, hostels and homes for the elderly.”

The team’s sponsor, Annabel Fuidge, team mentor from ITEC Training Solutions, said: “I am so proud of the girls. They have really engaged with the project which they want to continue to develop. We will be there every step of the way.”

Sarah Porretta, Head of the Money for Life Programme at Lloyds Banking Group, said: “We’re delighted to announce Grow and Save as the winners of the Money for Life Challenge Wales final. Our judges were incredibly impressed by the way the team had taken a simple idea and taken it so far into their community. Growing herbs and vegetables in your garden or on your window sill is easy to do and the savings you make will really add up.

“We look forward to welcoming Grow and Save to the Grand Final on 23 May and wish them all the best of luck.”

The winning team at the UK Grand Final on 23 May will win a Lloyds Banking Group mentor, £2,500 for a charity of their choice and £100 of shopping vouchers for each team member. There will also be an overall People’s Prize winner selected by guests at the event.

The panel of judges included Simon Farrington, Wales on Sunday editor and business development editor for Media Wales, Essex Havard, Niace Dysgu Cymru’s campaigns and fundraising co-ordinator, Mike Lewis, BITC Business Connector, seconded from Lloyds Banking Group, Stephanie Lloyd, NUS Wales’ president and Garin Wilcock from St David’s College Cardiff. The panel selected Grow and Save from a shortlist of five teams from across Wales.

The other finalists were:

•   Quit and Sav£, a team of 16 to 18-year-olds from The College Ystrad Mynach who have identified the money saving opportunities and benefits from cutting down or quitting smoking.
•   Sk8 Swap Shop, a team of 16 to 23-year-olds from Carmarthen Youth Project, who promote money management through a swap shop, inviting members of the community to their event to swap their stuff.
•   Rampart Rebels, a team of 16 to 19-year-olds from Employment Training Centre in Swansea, whose project aims to inform the public about loan sharks in the city. Rampart Rebels won the People’s Award at the final.
•   Swimming with the Sharks, a team of 16 to 17-year-olds from Neath Port Talbot College, who are raising awareness of the dangers of lending money from loan sharks and providing information on alternative ways to borrow money.

Money for Life Challenge is part of the Money for Life programme, a unique partnership between Lloyds Banking Group and further education sector partners in the four nations of the UK, including ColegauCymru / CollegesWales and the National Training Federation for Wales. The competition aims to find the most successful and innovative ways to improve the money management skills of learners, their friends, families and communities. Team members are between 16 and 24 years old and in further education, work based learning or adult community learning.

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

About Money for Life

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

The Money for Life Challenge is a UK-wide competition that provides £500 grants to empower teams of 16-24 year olds to develop innovative money management projects that impact their communities.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

About the Money for Life Challenge

The Money for Life Challenge is a UK-wide competition which provides small 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.
16 to 24 year olds in further education, work based learning, adult community learning or a training organisation can set up a team and apply for one of 250 grants to run a money management project in the local community.
The Challenge empowers learners in further education, work based learning, adult community learning or training organisations to develop innovative, grass-roots money management solutions.
The Money for Life Challenge has been created in consultation with our further education and community partners: ColegauCymru / CollegesWales, National Skills Academy for Financial Services, National Training Federation for Wales, College Development Network, Toynbee Hall and Young Scot. Our partners are instrumental in the delivery and co-ordination of the Challenge.

About the partners in Wales

For more in information on ColegauCymru / CollegesWales, see http://www.collegeswales.ac.uk or http://www.colegaucymru.ac.uk
For more information on the National Training Federation for Wales, see http://www.ntfw.org

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April 2013: Act on Money take top prize at Money for Life Challenge England Final

vicki.wright — Wed, 05 Jun 2013 11:45:11 +0000

Whitechapel youngsters’ money management skills recognised at England final of prestigious competition

A team of young people from ACT NOW, Cardboard Citizens’ youth theatre in Whitechapel, is celebrating success today after being crowned winners at the England final of Lloyds TSB’s Money for Life Challenge, a national competition designed to inspire better money management skills in communities across the UK.

The team of young people aged 22 and 23 fought off competition from all over England at yesterday’s ceremony at the Tower of London with their inspirational project, called Act on Money, that addressed the issues of homelessness and financial exclusion that many of their peers suffer. The team devised a ‘forum theatre’ play, which they took on tour to two venues where young homeless people were. The aim of the play was to raise awareness of these issues via performance as well as discussing possible solutions and finding sources of help and advice that homeless people can access. Their project and play convinced judges of the team’s winning ability to not only improve their own money management skills, but to use these to have a positive impact on their local community.

Act on Money has won £1,000 to donate to a charity of their choice and £50 shopping vouchers for each team member. Plus the young people will now progress to the Money for Life Challenge UK Grand Final in Central London on 23 May, where they’ll compete against teams from Scotland, Wales and Northern Ireland to claim the title of overall Money for Life Challenge winners.

John Henry, from Act on Money says: “We can’t believe we’ve won the England Final and we’re really excited about the Grand Final next month. It’s been great being able to help people in the homeless community to improve their money management and knowing where to go for help. It’s been such a great experience, we’ve learnt so much from working together on the project and we’re glad it’s not over yet.”

The team’s sponsor, Petia Tzanova from Act on Money says, “Everyone at Cardboard Citizens is so thrilled about Act on Money’s remarkable victory. Our young people have torn through any stereotypes assigned to the homeless community to make themselves, their peers and us very proud.

“We hope to use the award money to further the project’s legacy with more performances that help reach and inform more homeless young people about financial management issues.

“Quite a few tears were shed by team and staff alike today. For our young people this might be the first time that they’ve experienced what winning feels like and they did themselves very proud; an extraordinary lesson for them that when they put their minds to realising their vision they can achieve great things! ”

Sarah Porretta, Head of the Money for Life Programme at Lloyds Banking Group, said: “We’re delighted to announce Act on Money as the winners of the Money for Life Challenge England final.

Our judges were incredibly impressed not just by the team’s effort and boundless enthusiasm, but by the innovative way they helped others learn money management and their ambition to scale their project up to reach even more people across the UK in the future.

“We look forward to welcoming Act on Money to the Grand Final on 23 May and wish them all the best of luck.”

The panel of judges included Bernie Hollywood, OBE, Business Connector, Lloyds Banking Group; Simon Lambert, Assistant Editor, This Is Money Blog, Daily Mail; Danielle Grufferty, NUS Vice-President (Society & Citizenship); Danielle Rafferty, NUS; Steve Korris, Training Director, My Bank; James Cookson, Money Maze, People’s Prize Winner for Wales 2012. The panel selected Act on Money from a shortlist of five teams from across England.

Money for Life Challenge is part of the Money for Life programme, a unique partnership between Lloyds Banking Group and further education sector partners in the four nations of the UK, including The National Skills Academy for Financial Services and Toynbee Hall in England. The competition aims to find the most successful and innovative ways to improve the money management skills of learners, their friends, families and communities. Team members are between 16 and 24 years old and in further education, work based learning or adult community learning.

For more information on the Money for Life Challenge, please go to moneyforlifechallenge.org.uk, or join us on Facebook at facebook.com/moneyforlifeuk and on Twitter at twitter.com/moneyforlifeuk

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

About Money for Life

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

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.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

About the Money for Life Challenge

The Challenge empowers learners in further education, work based learning, adult community learning or training organisations to develop innovative, grass-roots money management solutions.

About NSAFS

The Skills Academy provides a diverse range of business and talent development support – and all tailor-made for the industry’s needs. Its educational programmes can be accessed in-house, online and locally through the Skills Academy Training Provider Partner Network. As a registered charity, its aim is to provide value-added and cost-effective programmes. Income generated is re-invested in innovative schemes to further support the industry and development of its people across many business areas. For more information, please visit: www.nsafs.co.uk.

• Financial education has been a part of the Skills Academy’s work since its inception and is funded by financial services sponsors. We have a track record of delivering personal money

• management skills development to the community, especially to young adult and community learners in further education colleges.
o The Money for Life Challenge is a national competition inviting groups to submit new and innovative projects for better development of money skills. Through the development of Teach Me and Teach Others, two bespoke qualifications awarded by
OCN London, the Skills Academy is providing volunteers and staff in community charities across the UK with the opportunity to get the right skills to help other people understand how to manage their money. Both projects are funded by Lloyds Banking Group through its Money for Life programme.

• The latest Skills Academy newsletter is available for download at: http://www.nsafs.co.uk/news-events/newsletter-2/

Toynbee Hall

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April 2013: Birthdays on the breadline no piece of cake for parents

nicola.biles — Tue, 09 Apr 2013 08:00:42 +0000

Almost half (44%) of British parents cannot afford to give their child a birthday party according to new report from Family Action

Birthdays on the Breadline, a new report released today by family support service leaders Family Action, unwraps the story of how parents are busting their budgets for their children’s birthday parties, and the sacrifices they are making to do so. The report is published in partnership with Money for Life, Lloyds Banking Group’s personal money management programme, which has joined forces with the charity to support vulnerable families through everyday financial challenges by improving their money skills.

Combining findings from national polling and focus groups, the report reveals how many families are driven to spend on birthday parties because of increasing pressure to impress other parents, friends and family, as well as to compensate for their own memories of poverty in childhood.

National polling by YouGov reveals that almost half (44%) of British parents surveyed said that they cannot afford to give their children a birthday party, increasing to 51% among lower income families. Yet despite the financial pressures placed on many households to make ends meet, the report found that over a quarter (27%) of parents believe it is their duty to organise a party for their child, even if they cannot afford it.

Family Action also carried out focus groups across its services in England to find out how the low income and disadvantaged families it works with are coping with budgets for birthday celebrations. Almost three quarters (74%) of these families have less than £100 a week to live on after housing costs, council taxes and utilities are paid.

40% spend at least £100 on the party and a similar number (43%) who have less than £100 a week to live on said they spend more than this on the party. These low income parents also highlighted the trend of taking cakes and party bags into school for children’s classmates as a factor piling on even more pressure on already stretched budgets. Meanwhile, focus groups also revealed a concern from parents to protect their children from potential playground bullying by providing a birthday celebration they cannot necessarily afford.

Additionally the national polling found:

A fifth (21%) of parents would cut back on household expenses to afford their child’s birthday;
Over a quarter (27%) would go without new clothes for themselves or their children;
46% are saving at least a month in advance to pay for birthday parties;
More than a third (34%) are spending anywhere between £80 and £500 on an individual child’s party;
57% of parents would have a party at home instead of at an external venue to cut down on costs;
For half of parents (49%), the best part of organising their child’s birthday party is the sense of achievement they get from it and seeing their child happy.

Focus groups of Family Action service users also revealed:

Almost three quarters (74%) have less than £100 a week to live on after housing costs, council taxes and utilities are paid;
“Playground peer pressure” causes parents to spend large amounts on parties for their children and their school friends;
The trend for taking cakes and party bags into school for classmates is piling more pressure on these parents’ already low incomes.

Chief Executive of Family Action, David Holmes, said: “Paying for children’s birthday parties is clearly a source of financial stress for many families, even before the costs of birthday presents are taken into account. This financial stress is magnified for low income families who may find they are spending the equivalent of a week’s living costs for the whole family on a party for a single child.

“If you then add in the additional financial pressures that low income families in particular are facing from low wage rises and the squeeze on welfare, paying for children’s parties is no cause for celebration.

“That is why family services and money management programmes such as Money for Life are so vital in helping to make parents more resilient to social and financial pressures by building their self-esteem and money skills.”

Sarah Porretta, Head of Lloyds Banking Group’s Money for Life programme said: “As this report shows, money management is an increasingly vital life skill with families today facing all sorts of unexpected financial pressures. Money for Life’s partnership with Family Action is designed to support more families to develop the knowledge and confidence to manage their money well. Our employees are volunteering their expertise in face-to-face workshops in communities around the country, helping families with the issues that affect their daily lives, such as how to run a birthday party on a budget.”

In response to the report, Family Action and Money for Life have compiled some top tips on how to organise a birthday party on a budget:

Why not consider having a party at home this year instead of at an external venue? Setting up a birthday party at home for your children and their friends is cost effective and with a little time and planning you can give your child some very happy memories at home.
Set a budget for your party and try and stick to it. It may be cheaper to pick an external party venue with an all-inclusive cost per child, or it may work out cheaper to do it yourself at home. Do the sums and make sure. Use this opportunity to teach your children about budgeting – help them decide between a more expensive party with fewer friends, or a cheaper party with more friends.
If your child’s birthday is in the summer, why not plan a picnic or a treasure hunt in the park? All you’ll need is some blankets, picnic food and games for the kids – which you can even ask friends to bring along with them. You can also design your own games, bring along a pen and paper and a few small prizes such as sweets to keep the kids happy. This not only will save on pennies but it’ll also save you from a messy home at the end of it!
Start saving up in advance. Put loose change in a bottle each week to collect for your child’s birthday – you’ll be surprised at how much you can save!
Providing party bags is often expected for kids’ birthdays but they can be expensive to put together and tend to include useless items that get thrown away within a few days. Try to minimise the amount you spend on these items by buying in bulk at the supermarket or pound shop or see if your venue will include a party bag in the cost. You could also try a ‘lucky dip’ as an alternative for the children to pick one small gift each as they leave the party.
If relatives offer to buy a gift for your child’s birthday ask them to pay for fees like swimming lessons, karate or any other groups the child attends. This will save you money when the bill comes through.
A trip to the cinema with some friends makes a great birthday treat but the cost can quickly spiral out of control. However, many cinemas now show kids’ films at the weekend at a fraction of the cost. Check out your local cinema to see what’s on offer. And, if your local cinema allows it, remember to take your own snacks with you to further reduce the cost.
If sending out invitations why not send out an e-invite to parents and their kids instead. It’s cheaper than buying cards and you’ll also save time, and money on postage.
Make the birthday cake instead of buying one. Whilst shop bought cakes look great they are also expensive- some shop bought cakes can cost more than £20. There are tons of simple, delicious recipes online that you can make for under a fiver. Pinterest is a good source of inspiration for cake designs and creative party foods. Or try googling “fruit animals” for a healthy alternative to cake.
Think about timings of the party. If you get this right you can save a lot of money. Organise a party in between lunch and dinner as this will save you on food costs. Or when inviting people clearly state that it’s snacks that will be provided and not lunch or dinner.
Make up the games instead of having a child’s entertainer. Good old-fashioned party games are just as fun for little ones. Musical chairs and musical statues are fun for kids and many children’s games don’t need prizes, you could just buy a cheap packet of gold stars to stick on the winners to make them feel special! Have a look at www.partydelights.co.uk for fun sticker collections and other ideas.
If your child receives gifts that they already have or that you know they won’t use, why not sell them on eBay? This can be a great way of earning some extra money and putting it in savings, or towards something that they do want or need. Another option is to recycle them by giving them to a different friend in a different social group.

ENDS

For more information, please contact the Money for Life team at Blue Rubicon on 020 7260 2700 or [email protected]

The findings of Birthdays on the Breadline are based on three methods (1) national online polling, (2) semi-structured focus group discussions with Family Action service users and (3) individual questionnaires completed by focus group participants. A separate focus group was also carried out with SEG C1C2 British mums who organise birthday parties for their children, to gauge how they are affected by the topic.

YouGov conducted UK-wide polling online between 15 and 18 February 2013. The total sample size was 2,052 adults of which 462 were parents. The figures have been weighted to be representative of all UK adults over the age of 18.

The Family Action focus groups consisted of five or more parents, of both mothers and fathers at Family Action service locations across England (West Mansfield, Manchester, Southend-on-Sea, London and Oldbury). The discussions were semi-structured, general and not specific to any one family’s situation.

Following the discussion parents filled in individual questionnaires to give a more in-depth view into their family situation and spending.

About Family Action

Family Action has been a leading provider of services to disadvantaged and socially isolated families since its foundation in 1869. We work with over 45,000 children and families a year by providing practical, emotional and financial support through over 100 services based in communities across England.

About Money for Life

The Money for Life Qualifications programme provides accredited, fully-funded training to enable organisations to embed money management skills at a local level.

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.

Money for Life is also partnering with Family Action to train employees to deliver money management workshops to 1,500 vulnerable families in 2013.

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