Published Friday, 27 July, 2007 at 04:46 PM
Minister for Tourism, Fair Trading, Wine Industry Development and Women
The Honourable Margaret Keech
YOUNG PEOPLE PUT MONEY SKILLS ON SHOW
Queensland students have been invited to demonstrate their financial nous and understanding of modern consumer and business practices by nominating for the Buy Smart Competition 2007.
Fair Trading Minister, Margaret Keech, said the Buy Smart Competition assists students to sharpen their consumer and financial skills, and gives them the chance to win cash prizes.
“Young people are more active in today’s marketplace then ever before, but that brings with it a greater risk of financial problems,” Mrs Keech said.
“In 2005-06, 1904 people under the age of 25 went bankrupt in Australia.
“The average age young people begin using mobiles is 13, with 20 per cent under 18 admitting phone debt has caused them major problems.
Mrs Keech said recent surveys have also shown too many young people are defaulting on loans, which may create problems down the road.
“It is vital children learn smart consumer and financial literacy skills so they can be wise with their money and avoid money troubles,” she said.
“The Buy Smart Competition 2007 is a fun and creative way for young people to learn smart consumer habits for life.”
To enter the competition, they need to research a consumer or money-related topic and present what they’ve learnt to their peers.
The presentation is then forwarded to the Office of Fair Trading and judged on its creativity and quality, how well it communicates consumer or fair trading advice and the suitability and effectiveness of the delivery for their peers.
“I encourage all Queensland schools and youth organisations to get on board,” Mrs Keech said.
There are cash prizes for winners and runners up in each of the four categories (school years 3 - 4, 5 - 7, 8 - 9 and 10 - 12). Prize winners in each category will receive money for themselves and their participating school or organization as follows:
• First prize - $300 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 21 September 2007.
For more information visit www.fairtrading.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, developed in partnership with Education Queensland.
Media contact: Peter McCarthy 3225 1005 / Cesar Alarcon 3119 0071
Fair Trading Minister, Margaret Keech, said the Buy Smart Competition assists students to sharpen their consumer and financial skills, and gives them the chance to win cash prizes.
“Young people are more active in today’s marketplace then ever before, but that brings with it a greater risk of financial problems,” Mrs Keech said.
“In 2005-06, 1904 people under the age of 25 went bankrupt in Australia.
“The average age young people begin using mobiles is 13, with 20 per cent under 18 admitting phone debt has caused them major problems.
Mrs Keech said recent surveys have also shown too many young people are defaulting on loans, which may create problems down the road.
“It is vital children learn smart consumer and financial literacy skills so they can be wise with their money and avoid money troubles,” she said.
“The Buy Smart Competition 2007 is a fun and creative way for young people to learn smart consumer habits for life.”
To enter the competition, they need to research a consumer or money-related topic and present what they’ve learnt to their peers.
The presentation is then forwarded to the Office of Fair Trading and judged on its creativity and quality, how well it communicates consumer or fair trading advice and the suitability and effectiveness of the delivery for their peers.
“I encourage all Queensland schools and youth organisations to get on board,” Mrs Keech said.
There are cash prizes for winners and runners up in each of the four categories (school years 3 - 4, 5 - 7, 8 - 9 and 10 - 12). Prize winners in each category will receive money for themselves and their participating school or organization as follows:
• First prize - $300 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 21 September 2007.
For more information visit www.fairtrading.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, developed in partnership with Education Queensland.
Media contact: Peter McCarthy 3225 1005 / Cesar Alarcon 3119 0071