I’ve just signed up to Penny for London, a campaign from the Mayor’s Fund for London which helps disadvantaged young people in the Capital. I wanted to highlight it on my blog because it’s such a tiny amount of money I won’t even notice the money going out of my account, but if every adult in London signed up the impact would be incredible.

From today, every time I use my contactless payment card on the TfL network (Transport for London), I’ll be donating 1 penny to a good cause. I can limit the amount I donate in a month – it’s automatically set to a maximum of 99 pence per month; an amount so small I won’t even notice it. This is just small change to most of us, but could make a massive difference to young people in need.

The Mayor’s Fund for London works with every London borough, organising breakfast clubs for hungry children in 74 London schools, literacy and numeracy projects to help 5,000 young Londoners with their reading and maths, and helping find job opportunities for the unemployed in the capital’s most disadvantaged communities.

Caffé Nero and Leon are also involved in the scheme, matching donations made when customers use their registered contactless payment card to buy coffee or lunch. And from 20 January Caffé Nero will give new donors a special code to receive a free coffee. Visa are also donating £1 for every penny donation.

If one in ten Londoners sign up, the amount raised could be in excess of £15million. So I urge you, if you have just a penny a day to spare, please go to Penny for London and sign up.