Education Today Logo


Education Today Cover Browse Issue

Learning money skills virtually can be profitable

News Image

Before you get out in the real world some simulation is a good thing, and money skills definitely benefit from some painless, consequence-less practice.

For the past 17 years, the non-profit Financial Basics Foundation has been providing free financial literacy programs to students in Australian secondary schools and has now put the call out to teachers to register their classes to enter the 2019 Suncorp ESSI Money Challenge.

The annual money management competition for students teaches them valuable lessons on how to earn, save, spend and invest and potential scams to look out for through its real world simulation.

In addition to bragging rights, the winning schools and students have a chance to win up to $1500 for themselves and their school.

Financial Basics Foundation CEO Katrina Birch said the free program was open to secondary students throughout Australia.

“So many of our money transactions are done online or digitally now, it’s not unusual for peopleto go weeks without any actual real cash in their pocket,” Birch said.

“This can make it harder for young people to keep track of what they are spending and where their money is going.

“In today’s click and spend world, it’s important that we educate young people on how to make smart financial decisions.”

Since 2017, more than 37,000 students have played the ESSI Money financial literacy game.

Students enter a virtual world where they can safely put their money management skills to the test including what it is like to earn a wage, budget, invest in shares and even be scammed

How to join in the ESSI Money Challenge
• Teachers must register their students to compete in the Challenge
• Register for free at from 5 August
• Challenge runs from Monday 26 August - Friday 6 September

• Three highest scoring students win prizes ranging from $1500 - $750
• Two winning schools win $1500 each.
• 16 students win a $250 Suncorp EFTPOS gift


11 Jul 2019 | National
71,533 contacts go unanswered on Kids Helpline News Image

There are a lot of children in distress and Kids Helpline has been overwhelmed by the demand for its services, leaving it with no option but to leave thousands of calls unanswered. It needs more funding. Read More

10 Jul 2019 | National
Presentations made wirelessly and easily News Image

Having a projector to accompany a talk is great, getting it running is often not so great and with that in mind BenQ has released a new USB-C button kit connectivity option. Read More

10 Jul 2019 | National
Mission Australia urges young people to speak up in Youth Survey 2019 News Image

They often say that the young don’t have a voice and Mission Australia is urging 15-19-year-olds across Australia to speak up on personal concerns and broader issues that are important to them by participating in Youth Survey 2019. Read More

5 Jul 2019 | Qld
Kids from remote Yarrabah and Kowanyama communities join inspirational camp News Image

Australian rugby league legend Johnathan Thurston continues to inspire Indigenous kids to strive through the JT Academy.
Read More

5 Jul 2019 | National
Education staff applications invited for 5k Scholarship Awards News Image

Applications are now open for the 2019 NGS Super Scholarship Awards for the chance to win one of six $5000 scholarships.
Read More