Financial fun focus of competition

Financial fun focus of competition

MEDIA RELEASE 5 September 2012

A nationwide competition, focussing on financial capability for Years 7 and 8 students, was launched today as part of Money Week 2012.

The 2013 Smart Money Digital Story Competition, jointly sponsored by the Bank of New Zealand and the Commission for Financial Literacy and Retirement Income, sees students creating digital stories about ways to better manage money.

Retirement Commissioner Diana Crossan says the competition is a chance for Years 7 and 8 students at primary and intermediate schools to learn about financial capability in a fun and creative way.

“Smart money skills are vital in today’s world and they fit with the key competencies in the New Zealand Curriculum. This competition provides an engaging way for teachers and students to explore everyday money ideas and issues. Students could demonstrate what they have learned by making a short movie about things like the cost of owning a cell phone, saving for a family holiday or the true costs of credit and interest. They might even spoof an advertisement or attempt a reality TV show. The important thing is that they explore financial concepts, think critically about managing everyday money and have fun doing it.”

The competition rules are deliberately flexible. Although many entrants will use DVD as their chosen medium, entries made on cell phones and other similar digital mediums will also be eligible.

“It’s not the form of technology used to record that’s important, it’s the creative ideas behind the story and how it relates to financial capability. We really want young New Zealanders to engage with, and work collaboratively together, to grow their financial literacy from an early age,” Ms Crossan says.

BNZ Chief Executive Mr Andrew Thorburn hopes the competition will increase financial capability amongst primary and intermediate-age kids in New Zealand.

“It’s incredibly important for young people to think about their futures financially,” says Mr Thorburn.

“We hope this competition will give students a chance to think about finance in a way that is both beneficial and enjoyable.”

Teachers and students can register their interest on the competition website www.smartmoney.org.nz . The website contains financial literacy resources to help teachers and students with ideas for their stories, as well as helpful tips on how to make a digital story. Entries can be from whole classes, small groups or individuals. They close on 16 August 2013 and winners will be announced during Money Week in September 2013. Prizes include technology vouchers for schools, BNZ prize packs for all successful students, and teachers associated with winning entries will have the opportunity for special financial capability training.

ENDS

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