Carrigaline school wins Bank of Ireland Money Smarts Challenge

Edmund Rice College, Carrigaline has been announced as winners and also 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 in April, 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 secondary 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.

The Cork school topped its group, receiving first prize of €3,000 for each school. 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 a 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.

“We’d like to acknowledge the hard work and commitment of the teachers and students who participate in the Money Smarts programme and Money Smarts Challenge each year, building their financial literacy skills for the future. A huge congratulations to the winning students at Edmund Rice College, Carrigaline on their brilliant performances in the challenge.”

Bank of Ireland has committed to providing support of more than €4m to support financial literacy in 2024 and 2025, €1m of which funds a team of youth financial coordinators and financial wellbeing coaches. To find out more about the Bank of Ireland Money Smarts Challenge visit: Money Smarts | Challenge | Bank of Ireland and Youth Financial Literacy Centre - Bank of Ireland