The Financial Literacy Challenge
The Financial Literacy Challenge is a competition in which students develop and present a personal financial budget and investing plan appropriate for life after graduation. The competition is open to all Allegheny students, however participation in the challenge is a mandatory assignment for students taking ECON 010 – Financial Literacy. There are $5,000 in prizes and trophies awarded to student winners.
The next competition will be held on December 5, 2020
Congratulations December 7, 2019 Winners!
First place 3 way tie
- Pass/Go, Collect 200 Dollars (Sharlyne Cabral, Nicolas Marrero, Rachael Hensel, Hailey Shull)
- Just Throw it in the Bag (Daniella Clarke)
- JLZ-Fund (Jerfenson Cerda Mejia, Liam Wilby, Zachary Zoll)
Second place tie
- Risky Business (Samantha Medaglia, Jacob Simmons, Bree Garcia, Ariana Villavicencio)
- The Smart Savers (Kayla McCandless, Rebecca Montgomery Kamryn Randall)
Third place tie
- Forward Thinking (Adam Cook, Devin Ho)
- Sustainable Development Goals (Maura McCampbell)
How Entries are Judged
An outstanding judging panel will evaluate each plan according to the Certified Financial Analyst (CFA®) criteria for excellence in financial planning, and provide positive feedback to students on how they can refine and improve their plan to create a bright financial future. Click here to meet our 2019 judges
How to Prepare
Download these templates:
Follow these Detailed Entrant Guidelines:
- Each entrant will prepare both a 4-5 page written plan AND present the plan in the form of a 15-slide; 15-minute presentation.
- Each student will present the plan to the judges.
- Each plan and presentation must use the attached monthly budget template.
- You may use single spaced text or a detailed outline format.
- Pick a start date like graduation or the starting date of your job.
- Plan for a 1 year, 3 year and 5 year time horizon.
- Financial goals should be clearly outlined, as should be the plan to achieve these goals.
- The plan should include a brief discussion of the impact of the current state of the economy including GDP growth; rate of inflation; unemployment rate; and recent performance of the Dow Jones Industrial Average; S&P 500; NASDAQ; and bond market.
- An investment strategy that shows an understanding of the return characteristics of different asset classes, such as stocks, bonds and mutual funds
- The plan must include an asset allocation, which is the mix of stocks & bonds that fits the student’s age as well as investment objectives.
- A rationale of why the students chose their specific stocks, mutual funds, bonds or bond funds.
- A monthly personal monthly budget must be including using template.
- Please use a cover page and a table of contents.
- Put all exhibits at the back of the plan as an appendix.
- Number your pages of outline or text.
- Your final page should be any sources cited or a bibliography.
Here are examples of successful plans:
Judges Scoring Methodology
- Overall Creativity (20 Possible Points)
- Consideration of Investment Plan (15 Points)
- Discussion of Economic and Investment Risks (15 Points)
- Clear Statement of Goals (10 Points)
- Realistic Projection of Income (10 Possible Points)
- Realistic Projection of Your Debt/Expenses (10 Possible Points)
- Realistic Projection of Your Taxes (10 Possible Points)
- Realistic Projection of Investment Returns (5 Possible Points)
- Citation of Sources (5 Possible Points)
- Total (100 Possible Points)