The video campaign sees the celebrity sports stars meet magician, Josh Brett, who shows them some of his favourite money magic tricks. They in turn share their top money tricks and advice.
The fun video was produced by Money for Life - a financial education programme for young people, delivered by national youth charity, UK Youth. The programme aims to help young people make the most of their money by empowering 16-25 year olds with the skills they need to manage their money, become financially capable and start talking confidently and openly about money.
Ellie Simmonds said: "Money and the terminology around it can be quite daunting, and there's so much I wish I had learned when I was younger. UK Youth's Money For Life programme is a brilliant concept that helps young people learn how to manage their money, and kick start their dreams later in life, whatever they may be."
The video launch comes as Money for Life reveals new research into the nation's 16-25-year olds aspirations for the future, and discovered that 83 percent expressed concerns that they would never be stable in terms of money.
The study also identified that 21 percent of young Brits struggle to pay their rent, while 19 percent said their poor financial situation means they won't be able to go to university.
Patrick Shaw-Brown, spokesperson for Money for Life, which commissioned the study, said: "It's concerning that eight in ten young people fear they will never be financially stable. Much more needs to be done to help young people feel optimistic about their future and confident with their money.
"UK Youth's Money for Life programme works to change this by providing money management support to young people both online at moneyforlife.org.uk and offline through Money Masterclasses.
"Already Money for Life has engaged over 450,000 young people, many of whom are from some of the most deprived areas of the UK. After taking part in our Money Masterclasses, young people's attitudes towards finances are significantly improved and we're also making real impact on their behavioural choices, helping thousands of young people to build a bright future in which they feel financially secure."