{"id":187849,"date":"2017-08-24T17:07:55","date_gmt":"2017-08-24T07:07:55","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=187849"},"modified":"2020-08-14T15:44:32","modified_gmt":"2020-08-14T05:44:32","slug":"students-play-the-game-of-life","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2017\/08\/24\/students-play-the-game-of-life\/","title":{"rendered":"Students Play The Game Of Life"},"content":{"rendered":"
\"\"<\/a>
Year 12 KSHS student Abigail Blanch came 3rd in Australia when she took on the ESSI Money Challenge last year; the potential young tycoon is now considering a career in childcare<\/figcaption><\/figure>\n

August 24, 2017<\/strong><\/p>\n

Understanding how to manage money wisely is an important life skill most people don’t start to learn until they leave school and enter the workforce.<\/p>\n

But 40 Kingaroy State High School students are getting an early start on the path to being financially savvy, thanks to an online game.<\/p>\n

The students have enrolled in the Suncorp ESSI Money Challenge under the watchful eye of teacher Damien Nicholson.<\/p>\n

The Year 9 business students play the game on desktops, laptops, tablets and mobiles as part of their assessment outside normal classes.<\/p>\n

The game was developed seven years ago by the Financial Basics Foundation, which surveyed 1100 secondary school students and found most of them were confused about using credit cards.<\/p>\n

The survey disclosed most students believed they could use credit wisely, but in reality had little understanding about credit and paying interest.<\/p>\n

CEO Katrina Birch said the tap-and-go world of invisible money created an enormous temptation to spend.<\/p>\n

“It’s never been more important to teach young people how to earn, save, spend and invest money wisely,” Ms Birch said.<\/strong><\/p>\n

“Living in a cashless society means there are few barriers to spending. Although the students we surveyed were under 18 and would not have a credit card, many would buy games on their devices or use a mobile phone without fully understanding how they’re paid for.”<\/p>\n

Ms Birch said the online game uses virtual reality to simulate a six month period where the students can safely put their money management skills to the test and compete with classmates and other students around Australia.<\/p>\n

“They experience what it’s like to have a job, earn a wage, pay tax, get a credit card, invest in shares and possibly even go bankrupt,” she said.<\/p>\n

“The simulation gives them an understanding of the consequences of making good or bad financial decisions.”<\/p>\n

More than 34,000 students have participated in the challenge since it started in 2010.<\/p>\n

And from August 21 to September 1, the students will also be able to compete against one another for the chance to win $1000 deposited into a Suncorp Kids Savings account for themselves and $4000 for their school.<\/p>\n

More information about the ESSI program can be found on the Financial Basics<\/a><\/b> website.<\/p>\n

\"\"<\/a>
Year 10 KSHS student Liam Ireland is playing the ESSI Money Challenge for the first time this year; Liam has yet to decide on a career but is having fun learning how to handle personal finances<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Understanding how to manage money wisely is an important life skill most people don’t start to learn until they leave school and enter the workforce.<\/p>\n","protected":false},"author":3,"featured_media":187858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,395],"tags":[35],"yoast_head":"\nStudents Play The Game Of Life<\/title>\n<meta name=\"description\" content=\"Understanding how to manage money wisely is an important life skill most people don't start to learn until they leave school and enter the workforce.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2017\/08\/24\/students-play-the-game-of-life\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Students Play The 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