Mon Oct 10

Suncorp ESSI Money Challenge

STUDENTS FROM WESTERN AUSTRALIA & NSW NAMED THE COUNTRY’S BEST TEEN FINANCIAL MANAGERS

Secondary students from Western Australia and New South Wales have proven to be Australia’s best young financiers in a national competition aimed at improving financial literacy among teens.

More than 6,800 students competed in the national Suncorp ESSI Money Challenge, run by non-profit Financial Basics Foundation, which aims to improve financial literacy among teenagers.

The nation’s best in the 12- to 15-year-old category are Western Australia’s Joshua Singarajah of Rossmoyne Senior High School and classmates, Trisson Teh placed second place and Odie Sun in fourth.

Fellow Rossmoyne High School students, Ethan King took top honours in the 16- to 18-year-old age group and Xavier Miller placed fifth nationally.

Joshua and Ethan were not only the national winners of the Suncorp ESSI money Challenge for 2022, but they also topped the competition in their home state of Western Australia.

While the West won bragging rights, the competition was fierce with six NSW students ranking among the country’s top 10 in the 16- to 18-year category.

Competing in a virtual world, contestants had to put their money management skills to the test, learning valuable lessons on how to safely earn, save, spend and invest along the way.

Financial Basics Foundation CEO Katrina Samios said it was encouraging to see so many young students perform so well.

“Many Australians have been struggling financially this year due to record inflationary pressures and the aftermath of Covid-19,” Ms Samios said. “It’s become even more important to teach young people how to make smart financial choices now, and into the future.”

Suncorp Bank Everyday Banking Executive General Manager Nick Fernando also congratulated the winners and said the current economic environment reinforced the importance of teaching young people how to make good financial decisions.

“Understanding and managing finances is an important skill, and helping teenagers build their financial literacy is part of the Bank’s commitment to increasing financial resilience and supporting financial wellbeing.”

The national winners in each age category receive a $1500 cash deposit into a personal Suncorp Bank Kids Savings Account and a bonus cash deposit of $500 for their school.

Second and third place getters receive $1000 and $500 respectively in a personal Suncorp Bank Kids Saving Account.

State winners in each category walk away with a $200 EFTPOS gift voucher.

2022 Suncorp ESSI Money Challenge Winners

12-15 years