Personal Finance News
National Personal Finance Challenge Finalists Revealed
Next month, 34 teams of students from 28 states will compete in the 14th annual National Personal Finance Challenge (NPFC).
About the Event and Finalists:
After an initial round that saw nearly 17,500 high school-aged students competing, the Council for Economic Education has announced the finalists for this year’s NPFC. The 14th annual event is slated to be held June 1st and 2nd in Atlanta, Georgia. There, the 34 teams will compete for the championship.
For the competition, each team must first create a financial plan for a fictitious family finance scenario. Then, the top-scoring teams will move on to a Quiz Bowl, which will determine the champion. Throughout the event, students will cover six core areas of personal finance knowledge, including:
- Earning Income
- Spending
- Saving
- Managing Credit
- Investing
- Managing Risk
This year, the first place winners will earn a $2,000 per team member (and a coach) prize. Meanwhile, second-place finishers will earn $1,000 per team member/coach, third-place finishers will receive $500 per person, and fourth-place will take home $250 each.
Outside of the competition itself, students (of all ages) can also learn about the topics covered by visiting the National Personal Finance Challenge. This site includes video lessons, written materials, and additional resources across each of the core knowledge areas. Additionally, prospective coaches can find practice tests and Quiz Bowl questions to help prepare their students. Those interested in participating in future events can also register their teams by selecting their state and reviewing the process. Applications for next year’s event will open in January.
What They’re Saying:
Discussing this year’s competition and competitors, Council for Economic Education interim CEO Christopher Caltabiano stated, “These state champions are paving the way as our nation’s most financially savvy young minds. They are setting the standard for personal financial education. The knowledge, discipline, and real-world confidence they’ve gained through competing in the National Personal Finance Challenge will empower them for a lifetime of smart financial decisions and success.”
My Thoughts:
I was completely unaware of this competition until this week… but it sounds awesome! Considering how often we hear about a lack of financial education in schools, it’s incredibly encouraging that more than 17,000 high schoolers participated in this challenge. Also, looking at the event’s site, there seems to be a ton of valuable resources and information that any student or even adult could benefit from reviewing.
While there can only be one winning team (and a few others who will still take home cash prizes), a big congratulations to all of this year’s finalist team students — and best of luck in Atlanta!
Author
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