A team of Wilcox High School students proved they’re set when it comes their financial futures. Students Joshua Ching, Diane Shih, Chole Michel and Manish Mothi claimed first place in the Council for Economic Education’s (CEE) National Personal Finance Challenge (NPFC) earlier this month.
The competition challenged the students on their understanding of the “building blocks of personal finance that all students need to build lives of financial stability and economic mobility.” It included concepts of earning income, spending, saving, investing, managing credit and managing risk.
“The National Personal Finance Challenge arms students with the knowledge and tools to make smart financial decisions when faced with real-life scenarios,” said Heather Lavallee, Voya Financial chief executive officer and CEE board member. “These fundamental skills provide the opportunity for a better financial future as students enter adulthood and face choices on subjects like debt and credit, which can have profound effects on their ability to retire in confidence decades down the line.”
The students learned their skills from coach Anthony Raffetto, who teaches AP Seminar (Business), Empowering Entrepreneurship and Financial Literacy at Wilcox.
The team was invited to the national competition after winning a series of statewide and national academic competitions leading up to the event. Wilcox claimed the grand prize with teams from Alabama, Arkansas and Kansas earning the titles of first, second and third runners-up.
“Understanding the basics of personal finance unlocks a wealth of opportunities for life,” said Nan J. Morrison, CEE president and chief executive officer. “We congratulate this year’s NPFC championship teams and all the students, teachers and CEE affiliates who bring these essential skills to life in competitions and in classrooms.”
According to the CEE’s Survey of the States, only about half of the states require personal finance courses for students. CEE says, “The movement to provide the curriculum to all students in all high schools is picking up steam among parents, state legislators and education policymakers.”
Members of all four winning teams received a cash prize.
Students from Wilcox also won the competition in 2020.