Students’ money skills put to the test with Buy Smart 2009
Posted by editor (editor) on Jun 26 2009
2009 >>

The challenge is out for Queensland students to show off their consumer and financial skills by entering the Buy Smart competition 2009.

Minister for Fair Trading Peter Lawlor encouraged all students throughout the state to take part when he launched the competition at Whitfield State School in Cairns today.

"The Buy Smart competition is now in its eighth year, and gives students an opportunity to learn about real issues that affect them as young consumers whilst giving them the chance to win great cash prizes," Mr Lawlor said.

“A year four boy from Whitfield State School won his age category last year, and we received some very inventive entries including videos, board games, posters, brochures, a song, magazines and MySpace pages.

“Last year’s category winners included a children’s book about the real costs of buying a car and a board game designed to teach students about avoiding pitfalls when buying mobile phones.

“We also received a very comprehensive magazine that included letters to the editor, articles, celebrity interviews, current events, puzzles and a gossip section all aimed at keeping teenagers entertained and informed about consumer issues.”

Mr Lawlor said it was vital students learned smart consumer and financial literacy skills so they could be wise with their money.

"Young people begin using mobile phones, debit cards and credit cards at a much earlier age these days," he said.

"Knowing how to manage the money they have will help prevent young Queenslanders getting into trouble and getting into debt.

“Learning the right financial skills now will ensure our young people will be able to buy a car, rent a place to live and obtain a personal loan in the future without any hassles.”

To enter the Buy Smart competition, students need to research a consumer or money-related topic and present what they have learnt to their fellow students in a creative way.

The entries are then forwarded to the Department of Employment, Economic Development and Innovation and judged on their creativity and quality, how well they communicate consumer or fair trading advice and the suitability and effectiveness of the delivery for their peers.

Prize winners last year covered topics such as scams, refund rights, online shopping, debt, credit cards, buying a mobile phone and door-to-door sales.

The winners came from schools in Brisbane, Toowoomba, Cairns, Yepoon, Rockhampton, Winton and Calen.

There are cash prizes for winners and runners up in each of the three categories (school years 5 - 7, 8 – 9 and 10). Prize winners in each category will receive money for themselves and their participating school or organisation as follows:

• First prize - $500 for the student and $1500 for the school or organisation.
• Second prize - $200 for the student and $800 for the school or organisation.
• Third prize - $150 for the student and $500 for the school or organisation.

Entries close 18 September 2009.

For more information visit the Office of Fair Trading’s youth website, www.getoutthere.qld.gov.au or call the Office of Fair Trading on 13 13 04.

The website also has resources to help teachers incorporate the competition into classroom activities.

Last changed: Oct 06 2009 at 3:21 PM