Money for Life Programme
Money for Life is a unique partnership between Lloyds Banking Group, the Money Advice Service and Further Education (FE) sector partners. The programme aims to embed vital money management skills in Further Education (FE) sector institutions or community groups across the UK.
The programme facilitates the sharing of best practice and provides training and resources to empower practitioners to equip a generation of learners with the skills they need to better manage their money in order to realise their lifetime goals.
Working in partnership
In Scotland, Bank of Scotland and College Development Network are working together to promote and support financial capability. Through this programme we’re seeking to:
- Embed personal money management skills and financial capability in further education and community groups, and by doing so, leave a sustainable impact on the sector
- Raise awareness of the importance of money management skills; benefitting both practitioners and learners
- Address barriers to financial capability for a range of learner groups
- Train Lloyds Banking Group employees in order that they can support financial education in their local communities
Qualifications
Money for Life provides the training resources to enable those interested in financial capability training for FE institutions and community groups to gain one of three accredited qualifications in Adult Financial Capability, called Teach Me, Teach Others and Money Mentors. All three qualifications are accredited by the Open College Network in England, Wales and Northern Ireland and levelled on the SCQF in Scotland.
Money for Life aims to deliver vital financial capability learning where it is needed most. It will equip practitioners across the UK with tailored resources to improve their confidence and knowledge of financial capability and enable them to pass on that knowledge to FE learners. Find out more about the qualifications.
Embedding Resources
In 2012, Money for Life identified and addressed barriers to financial capability learning via a series of Focus Groups across the UK, which brought together experts to examine the financial capability needs of distinct learner groups.
Focus groups in Scotland worked on projects ranging from the creation of a specially tailored budgeting tool for learners, regardless of their mode of attendance; research on learner attitudes to financial issues and their readiness to support others through volunteer peer support; the production of a toolkit and DVD to raise awareness of financial issues amongst offenders, those at risk and other young learners; research on materials suitable for work placed training in financial capability; and research and support for Community Planning Partnerships around financial capability provision in their geographic area.
These resources and others developed by our Nation State partners are free to use and download.
Money for LiFE Challenge
For learners aged between 16 and 24 years, there is the Money for LiFE Challenge. View some videos of the projects below from 2011/12:
The Challenge is now closed for applications for this year but you can follow projects on the Money for Life Challenge Facebook and blog