FutureFX issues sharemarket challenge

AMY RUSS

Marlborough students, parents, whānau and teachers helped paint a picture of how young people are learning about money, with new research revealing a clear need for more support in building financial confidence.

Rather than simply identifying the challenges, a driver of that research is taking action.

To coincide with Money Month in August, the locally based organisation FutureFX is launching its $10k Sharemarket Challenge, inviting Marlborough whānau and school teams to learn about investing in a fun, risk-free environment using virtual money.

The challenge has been designed to encourage conversations about money, investing and financial decision-making between young people and the adults around them.

Open to school teams and families across Marlborough, the challenge gives participants a virtual sum of money to invest in the sharemarket, allowing them to buy and sell shares using real market data without risking their own savings.

Along the way they’ll learn how investing works, follow the performance of their portfolio and discover how different decisions can influence long-term outcomes.

With $10,000 in prizes up for grabs, the challenge adds a fun competitive edge while encouraging students, parents, whānau and teachers to learn together and start more conversations about money.

“The Sharemarket Challenge gives whānau and teachers a shared activity and a reason to start talking,” FutureFX’s Kelvin Watt explained. “It is one practical tool for turning financial concepts into conversation and experience.”

Call to action
FutureFX partnered with the University of Canterbury during Term 2 to explore financial literacy across Marlborough, receiving an overwhelming response from nearly 2,000 students, educators and families.

The research found that everyday conversations and practical money experiences at home play a significant role in shaping young people’s confidence with finances.

However, only 30 percent of Year 5-8 students and 23 percent of secondary students said conversations about money happened “often” or “always” at home.

The findings also highlighted a desire for greater support, with 68 percent of parents and whānau and 84 percent of teachers saying they would like more help teaching financial skills.

Kelvin observed that financial confidence is built through everyday experiences rather than one-off lessons. “This can mean talking through decisions, modelling healthy habits and gradually giving young people meaningful responsibility,” he elaborated.

Community support has played an important role in the initiative with local business BP Computers sponsoring a laptop as the major prize for those who completed the survey – helping to drive the survey’s response. Some members of the team have strong connections as parents and trustee members with the schools that were heavily involved.

Noted Kelvin: “Our hope is that this initiative will spark meaningful conversations around kitchen tables, in classrooms and throughout the wider community, helping equip the next generation with the confidence to make informed financial decisions.”

At a glance
$10k Sharemarket Challenge
When: Through 25 September
Entry deadline: 21 August
Registration: futurefx.org.nz/sharemarketchallenge