New young mums in Sheffield have launched an online tool to help their peers keep on top of their finances.
The parents – who take part in a programme run by Youth Association South Yorkshire – came up with the Mums and Money Management budget planner toolkit to help other young mums and mums-to-be.
It brings together information and resources to help young parents make the most of their money as budgeting can often be a challenge.
And their project has already been put forward for a prize as part of the Northern England Money for Life Challenge Winners Award 2015.
Marie Boyden, regional project co-ordinator for the youth association based on Carver Street, Sheffield city centre, said the nomination had made for a double celebration at the toolkit’s launch.
She added: “We have just been informed that the project has been shortlisted to compete for the Northern England Money for Life Challenge Winners Award 2015.
“This is a great achievement for the young girls.”
The budget tracker aims to help young mums learn how to cut costs so they can make savings for the future.
Getting out of debt and how to plan finances effectively is also covered in the new toolkit.
Coun Pat Midgley, who attended the launch, said: “It’s truly inspiring to see young people come up with such a great idea and see how much they have enjoyed helping other people.
n Visit www.yasy.co.uk/young-people/mums-and-money-management to view the budget planner toolkit.