The 2024 Michigan Personal Finance Challenge will be an in-person event from 11:30am-3:00pm on Monday, April 15, 2024 at the Federal Reserve Bank - Detroit Branch.
We are not planning to have a qualifying test prior to the State Finals event. It is suggested you use a case study from a previous year with your students to determine your strongest participants for the State Finals. The Michigan Economics Challenge State Finals are earlier in the day and will conclude by 11:00am. We encourage you to participate in both events.
Each school may APPLY for up to 2 teams to participate in the Personal Finance Challenge State Finals. The teams should consist of a minimum of 3 students with a maximum of 4 students per team. Each school that applies may receive a bid for at least one team to participate. In the event more than 20 schools choose to participate, a multiple choice test will determine the 20 schools who will receive invitations to the state finals. Awarding of a second team to participate will depend upon the number of applications received. This application will close on April 1 at 5:00pm. The final roster of teams invited to participate in the State Finals will be announced and emailed to all teachers on April 1. At that time we will collect the names of the participating students from each school and any dietary restrictions, etc.
The case study will be sent out one week prior to the beginning of the State Finals, April 8, for students to prepare their presentations. Each team will be allowed to schedule a half-hour time block for consultation with a Certified Financial Planner from the Center for Financial Planning.
Lunch will be available for students upon arrival at 11:30am. Presentations will begin at noon. From Noon until 2:30pm teams will present their case study to a panel of judges during an assigned 15 minute time slot. The judges will determine the top two teams to face off in a quiz bowl to determine the Michigan State Champion. Each member of the State Championship team will be given a $250 cash prize on the day of the competition and will automatically advance to the all-expense paid National Finals competition at the Federal Reserve Bank in Cleveland, OH on May 19-20, 2024.
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