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Chelsea High School Wins Michigan’s 2024 Personal Finance Challenge

pfcOn April 15, the Federal Reserve Bank of Chicago – Detroit Branch hosted the state finals of the 2024 High School Personal Financial Challenge. The event is put on by the Michigan Council on Economic Education (MCEE) and sponsored in part by the Michigan Credit Union Foundation (MCUF).

The Personal Finance Challenge, which has become an annual part of April’s Financial Literacy Month, is an opportunity for high school students to demonstrate their knowledge of personal finance by competing with other students across the state. Student groups receive a case study one-week prior to the competition, where they take on the role of a financial planning company and present their recommendations to a panel of judges at the state finals. The two teams with the highest score after the case study then compete for the state title in a fast-paced “Quiz Bowl” round.

“In addition to the Challenge, students also participated in a Financial Reality Fair,” said MCUF Executive Director Andrea Tucker. “These active learning experiences simulate one month of independent adult living, where high school students see what it’s like to make financial decisions, pay bills, and manage a budget.”

In total, more than 30 students participated in the event. And in the end, International Academy Okma and Chelsea High School were the top two teams, with Chelsea High School taking the overall win. The Chelsea team will now compete in the regional competition for a chance to represent Michigan in the National Personal Finance Challenge in May.

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