Personal Finance Challenge

Illinois Personal Finance Challenge

Personal Finance Challenge

Register through Feb 15!West Chicago Community High School earned First Place in the State Finals competition April 21! Congratulations to teacher Candace Fikis and her students. The West Chicago team represented Illinois at the National Personal Finance Challenge in Kansas City on May 20. 

The Illinois Personal Finance Challenge (IPFC) program is designed to recognize students who demonstrate high levels of comprehension and application of personal finance concepts and skills, and reward teachers for outstanding practices in teaching personal finance concepts.

With all students in Illinois required to take a consumer education/personal finance course, this is the perfect way to engage them more fully in their learning and to assess how well they are meeting the state mandate.

Teachers first register on the FinanceChallenge ONLINE! web site. Additional step-by-step directions are provided.

Preliminary Round

The competition includes a preliminary online first round, making it possible for every school in the state to participate. For the preliminary round, teams of high school students, four students per team, take an online test of 30 questions. The top team from each of 5 regions in the state, plus the next five highest-scoring teams in the state advance to the state finals in Chicago. Teachers are provided all the rules of the program in order to prepare students. There are no participation fees and teachers may enter multiple teams.

State Championship Round

At the state competition, the student teams take a set of written tests to determine the finalists. The two teams with the highest team scores on three rounds of written tests advance to the final quiz bowl round, which concludes with the announcement of the First Place Team. The State Championship team advances to the National Personal Finance Challenge competition in St Louis.

National Finals

National Personal Finance Challenge competition is held in May for the first place teams from participating states.


The 2015 Personal Finance Challenge (PFC) is a program of Econ Illinois receiving support from BMO Harris with in-kind support provided by the Federal Reserve Bank of Chicago. PFC is endorsed by Illinois State Treasurer Michael W. Frerichs.