The contest, which opened yesterday 28 February 2012, will run until 5 March 2012, with the journalist who manages his or her money best, winning R10 000 for a personally chosen charity.
While budgeting skills are the focus of the Budget Challenge, social media engagement counts for a percentage of the final score, so contestants are allowed to rally votes from the public to increase their chances of winning. Each journalist is required to share budgeting activities with moneysmart daily, in order for financial scores to be updated on the Budget Challenge Facebook page.
"South Africans clearly have a lot to learn in budgeting as 13 million languish in debt with almost 75% of all salaries servicing this debt," says moneysmart CEO, Tobie Van Zyl.
