Suncorp Bank sets young Aussies up for financial success

Suncorp Bank is proud to be supporting the ESSI Money Challenge, which aims to boost financial literacy among Australian high school students across the country.

Hosted by the Financial Basics Foundation, a community partner of Suncorp Bank, the Challenge teaches students about Earning, Saving, Spending, and Investing (ESSI), by engaging in real life financial milestones such as opening a bank account, working to earn money, budgeting and choosing a credit card.

Financial Basics Foundation CEO Katrina Samios said all Australian students deserve access to financial education.

“From our decades working closely with teachers and researchers, we know that developing healthy financial habits from a young age has a positive impact throughout life,” she said.

“We believe the Suncorp Bank ESSI Money Challenge helps to promote this, with 9000 students from 320 schools taking part last year.”

The financial benefits of the Challenge for our next generation of young Australians are clear, with 79% of participants reporting their new skills will help them in the future.

Suncorp Bank Executive General Manager, Consumer Distribution, Chris Fleming, said Suncorp Bank’s partnership with Financial Basics Foundation was extremely valuable in developing financial literacy for the next generation.

“Our partnership with Financial Basics Foundation empowers and equips young Australians with the financial knowledge they need to build healthy habits as they enter the world of banking,” he said.

“We are excited for the ninth Suncorp Bank ESSI Money Challenge to launch later this month and look forward to seeing more young people learn and grow.”

Participants in the Challenge compete for a chance to win real-life prize money for themselves and their school from a total prize pool of more than $11,000. The Suncorp Bank ESSI Money Challenge runs from Monday, August 19 until Friday August 30. Teachers must register their classes so spread the word and encourage them to do so via this link: https://financialbasics.org.au/educator-hub/essi-money-challenge