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ERC announced as winners and runners-up of the Bank of Ireland Money Smarts Challenge

By Tara Maher

 

Edmund Rice College, Carrigaline has been announced as winners and runners up at this year’s Bank of Ireland Money Smarts Challenge Finals. This year, the competition saw close to 1,600 students from a total of 120 schools from all across Ireland register to compete in four virtual events held across the 16th and 17th of April 2024, with four overall winners and four runner up teams emerging victorious.


The Money Smarts Challenge is part of Bank of Ireland’s financial literacy programme for Second Level students.  The programme, which is free to take part in, is designed to help students learn about managing their finances and to develop important financial literacy skills.


On Tuesday 16th April, twenty 5th Year students (split into 5 teams of 4 students) in Edmund Rice College Carrigaline represented the school in the Bank of Ireland Money Smarts Quiz - a national event held every year. The quiz took place over Zoom, and Bank of Ireland provided iPads to the school to allow our students to partake in the quiz virtually using their software. The Money Smarts programme and the quiz is all centred around developing students' financial literacy - covering topics such a saving, borrowing, risk management, insurance, taxation and general knowledge around politics and the European Union. The quiz was designed in a really engaging & student-centred way - even including Tiktok videos to lead into some questions.





 The Cork school topped its group, receiving first prize of €3,000 for each school.  Today, the team from Edmund Rice College, Anastasia Negru, Olivia Holland, Cara Bowen and, Katie Hurley were presented with their prize by Munster stars Mark Donnelly, Jack O’Sullivan and Patrick Campbell. It was double celebration for the school, which also secured a runner up prize with their team of students Killian Caulfield, Eoghan Warren, Darragh Hickey, Zak Davidson.  


 Commenting on the Money Smarts Challenge event, Rory Carty, Head of Customer Strategy, Segments and Youth Banking, Bank of Ireland said: “According to our latest Financial Wellbeing Index, Ireland’s financial literacy score for 2023 was 53%.  This research revealed a drop in financial literacy in in the 18-24 age group where scores fell from 52% to 48%. This is why we are committed to programmes like Money Smarts that help to ensure young people are equipped with the skills to make smart financial decisions. Because we know that the sooner people understand how to manage their money the better off they’ll be in the long run. 


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