The annual Suncorp Bank ESSI Money Challenge returns in 2025 for its milestone tenth year, running from Monday, 18 August to Friday, 29 August. Named after the core financial concepts of Earning, Saving, Spending, and Investing (ESSI), the Challenge supports students in developing essential money management skills in an engaging, real-world simulation. Delivered by the Financial Basics Foundation, this nationwide initiative continues its mission to strengthen financial literacy among Australian secondary school students, with over 55,000 students participating since 2016.

Through interactive and accessible resources and programs like the Suncorp Bank ESSI Money Challenge, the Financial Basics Foundation helps young people learn how to manage money, avoid debt, and make informed financial decisions – skills that are more integral than ever in today’s digital economy.

According to the 2025 Australia Post eCommerce Report, Gen Alpha, the age group born between 2010 and 2024, influences $8.5 trillion in global spending, with 86% of parents saying their children browse online for goods.1 As digital natives and emerging online shoppers, Gen Alpha is being targeted by increasingly sophisticated marketing strategies – underscoring the importance of financial education in equipping young people with the skills to make informed and responsible choices. .

With 60% of Gen Alpha parents unsure whether their own financial knowledge is relevant to today’s youth, and 82% wishing there were more tools to help teach children about money, it's clear that families are seeking smarter, future-focused solutions. 2.

“Educational tools must evolve to meet the needs of a tech-savvy generation and empower them to make informed financial decisions,” said the CEO of Financial Basics Foundation, Katrina Samios. “Young people are increasingly exposed to financial advice through social media and other unreliable sources, which makes it more important than ever to provide accurate, engaging resources. That’s why the Suncorp Bank ESSI Money Challenge has continued to remain relevant and impactful since launching in 2016.”

Last year, 7,320 students from 281 schools across the country took part in the Challenge, with Western Australia leading the national scoreboard.

Free to enter, the Suncorp Bank ESSI Money Challenge offers teachers a unique, game-based platform to teach students practical money skills. Set in a virtual world, participants navigate real-life financial scenarios, such as opening a bank account, budgeting, working for income, selecting credit cards, making investment decisions, and completing quizzes. The virtual format provides a safe space for students to experience financial consequences and develop confidence in their financial choices.

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MEDIA RELEASE JULY 2025

Suncorp Bank’s Executive General Manager, Everyday Banking, Karen Walsh, said, “We’re proud to support the tenth year of the Suncorp Bank ESSI Money Challenge in partnership with Financial Basics Foundation. This milestone year presents an exciting opportunity for students to strengthen their financial skills, and we look forward to seeing their growth this August.”

Participants in the Challenge compete for a chance to win real-life prize money for themselves and their school from a total prize pool of over $13,000.

Teachers can begin registering their classes for the Suncorp Bank ESSI Money Challenge from 28 July.

For more information on the Suncorp Bank ESSI Money Challenge and to register, please visit https://financialbasics.org.au/educator-hub/essi-money-challenge/about/

About Financial Basics Foundation

For over two decades, the Financial Basics Foundation has been at the forefront of promoting financial capability among young Australians.

Financial Basics Foundation provides resources that are actively used by 69% of Australian secondary schools, and each year, more than 30,000 students play its online financial simulation money game (ESSI Money), which teaches teenagers how to earn, save, spend, and invest wisely.

For further information on the research and resources provided by the Financial Basics Foundation, please visit https://financialbasics.org.au/

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