Get ready for the Personal Finance Challenge

Youth can win cash and prizes during the Personal Finance Challenge, a national contest that tests their financial knowledge.

Do you like competition? Do you want to know more about personal finance? Do you like working on a team? If you answered yes to these questions, then the Personal Finance Challenge is a perfect fit!

What is it?

The Personal Finance Challenge is an opportunity for youth to demonstrate their knowledge of personal finance to others across the state and nation. It begins with an online contest which involves teams of four youth participating in a qualifying round. The top teams from across Michigan are invited to participate in a three-round state final competition held in person April 25, 2016, at the Federal Reserve Bank – Detroit Branch. The state final championship winning team wins cash and then travels to Kansas City, Missouri, to compete on a national level May 6 (hotel and airfare covered for team). Sounds fun!

How do you start?

Signing up for the challenge is easy. First step is to identify a teacher, 4-H leader or adult volunteer who will be the team’s finance challenge “coach.” The coach then registers online at Finance Challenge Online and selects Michigan. There is no cost to participate and the coach can sponsor as many teams as they would like. This way your whole class, youth group or 4-H club could participate. The next step is to identify teams of four youth interested in participating. These teams work with their coach to prepare for the online competition which takes place anytime from March 21-April 14, 2016.

Where can you find resources to help?

Visit Michigan State University Extension’s MI Money Health and Youth Money Management for personal finance information, curriculum, articles and programs that can help prepare your team. Also, consider inviting a financial education specialist to speak to your group by contacting .(JavaScript must be enabled to view this email address), or invite a MSU Extension financial educator by contacting .(JavaScript must be enabled to view this email address). If you are in need of a coach to sponsor your team, contact me at .(JavaScript must be enabled to view this email address).

How is it made possible?

The online Personal Finance Challenge is a national contest sponsored by local organizations and is made possible by major grant funding from the Calvin K. Kazanjian Economics Foundation and the Nebraska Council on Economic Education with supplemental funding from an Excellence in Economic Education sub-grant from the National Council on Economic Education.

The Michigan Personal Finance Challenge is part of Money Smart Week and is sponsored by Michigan Schools and Government Credit Union, Michigan Council on Economic Education, Talmer Bank and Trust and Michigan Society of Enrolled Agents.

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