A UK-wide competition focussed on improving money management in the local community has been created to help encourage young adults to create innovative social action projects.

Groups of young people will be provided with £400 seed funding and tasked with creating a social action project which has to engage at least 12 other people. Winners of regional awards will then compete to be the overall UK winning.

The Money for Life Challenge is part of the financial education programme Money for Life which is delivered by UK Youth in partnership with the Mix and funded by Lloyds Banking Group. Now in its fifth year, the format of this year’s Challenge has been refreshed and with grants available for up to 260 projects it is hoped that around 2,000 young people will take part.

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