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How can kids dodge national debt disaster?

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We’re awash with debt, deluged by it; one in six Australians is struggling with credit card debt and we’re around second in the world when it comes to private debt.

Something needs to be done, good money habits like most things can be taught and the 2018 Suncorp ESSI Money Challenge is a good place to start.

Developed by the Financial Basics Foundation, ESSI Money is a free, interactive online game played by thousands of secondary students across the country.

Students are challenged with real life scenarios including securing a job and earning a wage, online shopping, investing and using credit cards, all the while learning through the success and failure of their decisions throughout the game.

Financial Basics Foundation CEO Katrina Birch said ESSI Money easily fitted into lesson plans for Economics and Business, Mathematics and life skills classes.

“The Suncorp ESSI Money Challenge is a great way for secondary students to get their heads around setting goals for saving and understanding the high price of credit,” she said.

“It’s also a great way to win some fantastic prizes for students and their school”.

ESSI Money is played in 55% of Australian schools, with more than 3300 students taking part in the Challenge last year.

Teachers can register their classes from 23 July with the competition taking place over two weeks from 20–31 August.

“The game uses educational scaffolding to create an authentic learning experience,” Birch said.

“The students’ progress is monitored and displayed on a class leaderboard, and the player experiences the consequences of their financial decisions made throughout the game.”

She said developing financial literacy is becoming more important as the use of credit and the increase in cashless transactions becomes part of our everyday lives.

“Teenagers need to understand a range of skills and behaviours that will help them manage a budget and make good financial decisions.”

The 2018 ESSI Money challenge has cash prizes for individual students and their schools in metro and regional areas.

Register your classes to play the ESSI Money Challenge at financialbasics.org.au.

Three highest scoring students win prizes ranging from $750-1500 Two winning schools win $1500 each and 16 students win a $250 Suncorp EFTPOS gift card and three teachers win $500 for their schools.

#FINLIT Teacher Champion

Teacher prize 3 x $500

Each time you register a class for the 2018 Suncorp ESSI Money Challenge you can enter the #finlit Teacher Champion competition.

In 280 characters or less, tell us the best piece of financial advice/quote/lesson or inspiration you ever received/read or learned that you think teenagers would benefit from? (If providing a quote that’s not your own, please provide the author’s name).

The more classes you register to participate in the 2018 Suncorp ESSI Money Challenge, the more chances you have to enter the #finlit teacher champion competition! 


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