The Financial Literacy Challenge Inaugural Event will be held on Saturday, December 7
The Financial Literacy Challenge, hosted by the Bruce R. Thompson Center for Business & Economics, will be an intercollegiate competition in which students develop and present a personal financial budget and investing plan appropriate for a recent college graduate. There will be $5,000 in prizes and trophies awarded to student winners.
How it works
The competition will be open to all Allegheny students, however participation in the challenge will be a mandatory assignment for students taking ECON 010 – Financial Literacy. Each student or student team will give a 15 minute presentation which will contain:
- A personal budget that addresses a likely salary that will include tax withholding and monthly and annual living expenses for a recent college graduate,
- The impact of the rate of inflation,
- An investment strategy that shows an understanding of the return characteristics of different asset classes,
- An asset allocation that fits the student’s age as well as investment objectives,
- A rationale of why the students chose their specific investments,
- A growth profile that shows expected asset growth in 5, 10, 15 & 20 years.
A panel of six judges consisting of Allegheny alumni and local investment professionals experienced in wealth management will be assembled to serve as judges.
Students can look forward to more information when they return in the fall, alumni and friends of the college can feel free to email firstname.lastname@example.org.