A team of young people from Pembrokeshire set up their own special event this week to help people manage their money.

Roxanne Walker, 17, from Haverfordwest, Marcus James, 17, from Milford Haven and Amy Carter, 16, from Pembroke Dock, organised a one-off Loan Info 4U event at Pembroke Dock yesterday (Thursday).

The three youngsters are all learners with Futureworks - part of Pembrokeshire County Council's learning and development service.

The event, which informed local people about loans and safe borrowing, took place in the Development Centre, London Road, and was part of their involvement with Lloyds Banking Group's Money for Life Challenge.

"We hope that people went away from this event with a better understanding of borrowing money in a safe way," said Marcus James.

Leah Dumayne, of Futureworks, said the team were seeing more and more adverts on TV for Payday Loans and felt that it would be important for people to learn about the dangers in borrowing from such companies with extortionate interest rates.

"Hopefully, not only have the group improved their own financial knowledge, but have been able to help young people in their own community to understand and make better informed choices when it comes to borrowing."

The team is also hoping that their 'Loan Info 4U' event will impress the judges of the Money for Life Challenge - a national competition that provides a fun way for 16-24 year old learners in Further Education, work-based learning and community learning sectors, to develop money management skills and pass them on to their communities.

They hope to get into the UK Grand Final in London where they could win £2,500 for the registered charity of their choice.

Sarah Porretta, head of the Money for Life Programme at Lloyds Banking Group, said: "Now in its second year, the Money for Life Challenge is a fantastic opportunity for young people to tackle the money issues that affect them and their communities.

"Participants will improve their money management skills, their confidence and their team working skills as well as building links in their local community. Hundred percent of last year's participants said that they felt that taking part in the challenge improved their job skills, and that is a result we're really proud of."