Do you have a way with money?

Pensions concerns: Local MP Mike Weir is concerned about what the Westminster government might have up its sleeve for pension provision. Picture by Jon Savage.

Pensions concerns: Local MP Mike Weir is concerned about what the Westminster government might have up its sleeve for pension provision. Picture by Jon Savage.

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A challenge designed to test the money management skills of young people is backed by the MSP for Angus South.

Graeme Dey MSP is hoping that the annual Lloyds Banking Group’s ‘Money For Life Challenge’ will see people in his constituency showcasing their pioneering financial ideas.

The UK-wide competition aims to discover the most innovative and life-changing ways that entrants can improve the money management skills of their friends, families and communities.

Mr Dey said: “Knowing and understanding your finances is an absolute necessity, which is why the Money for Life Challenge is such a relevant and helpful competition.

“I hope that Angus South can at least produce one team to take part and, fingers-crossed, come away with the top prize.

“The Challenge is a fantastic way for these young people to develop their financial skills and share their knowledge with the wider community.

“The application period is open now until November 21 and I look forward to hearing about all of the exciting projects that will be proposed.”

To help them on their way, participating teams can apply for a grant of £500 to assist with the running of their project by visiting www.moneyforlifechallenge.org.uk

David Rowsell, head of the Money for Life Programme at Lloyds Banking Group, said: “Our mission with the Money for Life Challenge is to encourage young people to create new and innovative ways to help enhance their own money management skills and promote greater financial literacy in communities across the country.

“Money for Life is a significant part of our vision to Help Britain Prosper as it enables more people to make good decisions about their finances.”