Fair Trading Minister Virginia Judge today launched NSW Fair Trading’s 2010 Money Stuff Challenge which is open to all high school students across the state.

In its tenth year, the competition challenges students to be creative in researching and developing messages about consumer issues, managing money and how they can better protect themselves in the marketplace.

Ms Judge said advertising targeting young people had exploded in the past decade and teenagers needed to be savvy in the market to protect themselves.

“Young people need to know about consumer pitfalls and scams to avoid being ripped off and getting trapped in debt,” she said.

“Since its inception in 2001, more than 10,000 students have participated in the Money Stuff Challenge.

“The competition offers a fun and engaging way for students to learn more about their consumer rights, while meeting syllabus learning outcomes.”

Ms Judge said teachers played a key role in driving the success of Money Stuff to help students become well-informed consumers.

“The Money Stuff program focuses on areas where young people are most at risk of making bad purchasing decisions, like when buying a car, mobile phone, entering into credit contracts and moving into rental accommodation,” she said.

“A $16,000 pool of cash prizes is on offer. Winners in each category receive $2,000 for their school and $200 for themselves.

“Categories include Years 7–9 and Years 10–12 in metropolitan and regional divisions, with a highly commended prize of $1,000 for the school and $50 for the student in all categories.

“An additional $1,000 prize will be awarded to the teacher who has demonstrated great commitment to helping their students understand consumer issues.”

To register for the 2010 Money Stuff Challenge go to the Money Stuff website at www.moneystuff.net.au.

Applications close on 3 September. Winners will be announced in November.

Winning and highly commended students will be presented with their prizes and plaques at a Fair Trading Week Youth Forum event in November. All participants are mailed a certificate.

Kits containing 2010 Money Stuff Challenge material have been sent to all NSW high schools. For additional copies, call Fair Trading on 9619 8728.

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