Paul Davies, AM for Preseli Pembrokeshire is encouraging education and training organisations to back the Lloyds Banking Group's Money for Life Challenge, a national competition for 16–24 year olds in further education, work-based learning, adult community learning or training organisations. The Money for Life Challenge is away for teams to learn vital money management skills, whilst also helping to provide financial education to their communities.

The Challenge is supported by Lloyds Banking Group and seeks to find the most successful and innovative projects that young people can use to improve their money management skills, and those of their friends, families and communities.

Paul Davies said, "With financial education becoming increasingly important for young people I'd like to see at least one education or community organisation in my constituency encourage teams to take part in the Money for Life Challenge."

Teams of up to ten young people in further education, work-based learning, adult community learning or a training organisation can apply for a £500 grant to enter, with the support of an individual project sponsor from their learning provider.

National finals will take place in April 2014, followed by a UK Grand Final in London on 15 May 2014 to select the overall competition winner.

Mr Davies added, "It's important that young people in my constituency have the opportunity to improve their financial skills and share their new knowledge with others in the community, and the Challenge is a great way to do this. Applications for this year's competition are open until Friday 22 November 2013, and I look forward to hearing about the wonderful projects that will be proposed."