Money for Life Challenge Final is here!

The UK-wide Money for Life Challenge, 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, saw up to 269 grants of £500 awarded to hundreds of young people across the UK to help them enhance financial capability.

In Northern Ireland, up to 40 grants were awarded to money-saving projects developed by teams of local young people from further education colleges and the work-based or adult learning community. The top ten teams (five finalists and five runners-up) have been invited to the Northern Ireland Money for Life Challenge final in Parliament Buildings where the overall winner will win a £1,000 donation to the charity of its choice. The five finalists and five runner-up projects will also be eligible for the ‘People’s Prize’ that will be chosen by a special vote on the night.

Both the NI Final Winner and People’s Prize Winner will go on to represent Northern Ireland at the UK Grand Final in London on May 10 where an even bigger prize in up for grabs.

The Money for Life Challenge has been particularly successful in attracting and transforming the lives of young people outside of mainstream education, training and employment. Each team was mentored by a project sponsor - a youth worker or teacher. 

Last year’s UK overall Challenge winners ‘Bouncing Babies’,  a team from South Eastern Regional College (SERC) Lisburn Campus.  Bouncing Babies set up a support group for young mums that met weekly and had guest speakers who covered a range of topics, from student finance and childcare costs to living well for less and healthy recipes on a budget.

2014 Money for Life Challenge NI Finalists

Food for Thought (Lurgan): The Food for Thought project created value for money meals incorporating low cost ingredients sourced from local suppliers. The team is made up of 10 young people from Wade Training in Lurgan.

Revamp Clothing (Coleraine): Revamp Clothing provided creative workshops where young mums could meet and learn how to up-cycle second-hand clothing. 

Microgardening With Herbs (Armagh): The project produced microgardens to enable those who had no access to a garden to grow their own herbs and salad vegetables, helping them to save money on their grocery bill. The team is from the Clanrye Group in Armagh.

Be Beautiful for Less (Derry): Their project provided cost-effective makeovers and nail treatment to students, vulnerable young people, older people and young mums. The Derry team wanted to help boost the self-esteem of these women through inexpensive pampering. 

Glam Squad (West Belfast):  This group ran a ‘Glam Squad’ day for young women in the community to attend and get a new look for less” The Glam Squad is from People 1st at the Dairy Farm Centre in the Colin area of West Belfast 

Runners Up (eligible for People’s Choice Award)

Brew Guru (Greater Belfast): Based at the supported training and employment organisation NOW, Brew Guru provided real-time social media help for first time/novice users to navigate the benefits system using its unique GPS - Guidance, Peer Support and Signposting.

Fashion Mafia (County Down): After designing a questionnaire to identify the main challenges students face with money management, Fashion Mafia, based in South Eastern Regional College, approached 80 students and identified clothing as a major problem area which they struggle to afford. The team then decided to host a Gok Wan style fashion show comparing high street outfits to budget clothing from charity shops and sale items.

It's All About The Money Money Money! (West Belfast): The team from Sally Gardens Community Centre designed a top tips on saving money card for our friends and peers to use while they are out shopping.

50 Shades of Mince (Belfast):  The team from Springvale Learning’s catering department came up with the idea of cooking simple, nutritious, tasty and locally sourced meals for Learners of all abilities on low budgets.

Penny pinching for Pensioners (County Down): Based in South Eastern Regional College, the team came up with leaflets containing money-saving advice for pensioners on how to save money.

For more information on the Money for Life Challenge, visit www.moneyforlifechallenge.org.uk.  Keep up-to-date with the Money for Life Challnge Final on Twitter as it happens by following NI delivery Partner @NOW_Project

Picture Caption: Money for Life Challenge finalists, West Belfast's The Glam Squad, pictured with Deputy First Miniter Martin McGuinness.