News release
What’s inflation? How does monetary policy work? And what does the future of money look like? For anyone who’s ever wondered what the answers to these questions are, the Bank of England’s new quiz is here to help. Plus, participants will have the chance to win £1,000 in cash!
The Bank is launching an exciting competition that aims to develop people’s economic literacy in a fun and engaging way. Over the next six weeks, the Bank is inviting young people aged 18+ to build their knowledge of economics and personal finance by taking part in our Mind Your Money quiz.
Partnering with LADbible and working with a number of financial content creators, the Bank of England’s new competition will deliver engaging financial education content to younger audiences on channels they use.
Each week’s quiz will focus on a different economic and personal finance theme, and will aim to build people’s confidence in that subject. These themes are: budgeting, savings, investment, inflation, monetary policy, and the future of money.
Participants are invited to watch a short educational video on that week’s theme, and then take a quiz. Participants who answer all four questions correctly will be entered into a free draw to win weekly gift card prizes worth up to £300, and entered into the draw for the grand prize of £300, £500 and £1000 cash.
Commenting on the quiz, Bank of England Governor Andrew Bailey said:
“The Bank of England has an important role to play in improving financial literacy in the UK. We know younger people could use more support to build their financial literacy and this campaign aims to help them do just that.”
The quiz starts on 19 January and will run for six weeks until 1 March 2025.
Notes to editors
- The quiz will launch on LADbible's website at 1pm on 19 January 2025.
- It will run for six weeks, building participants’ knowledge on a different theme each week. These will be budgeting, savings, investment, inflation, monetary policy, and the future of money.
- The quiz competition will take the form of a short video released weekly for six weeks, followed by a four question quiz. Participants who get all 4 questions correct will be entered into a prize with winners selected at random.
- Prizes are as follows: week 1 - 3 winners x £50, week 2 - 3 winners x £50, week 3 - 3 winners x £100, week 4 - 3 winners x £100, week 5 – 3 winners x £200, week 6 – 3 winners x £300. Additionally, an overall winner will win £1,000, with a runner up prize of £500, and second runner up prize of £300.
- For more information on the Bank’s education programme see our education resources, as well as our latest report on the Bank’s outreach work.