PR Newswire
The Council for Economic Education hosts the spelling bee of personal finance
NEW YORK
, March 3, 2025 /PRNewswire-PRWeb/ — Ever wish your teenager understood just how much their life costs? The Council for Economic Education, a national nonprofit on a mission to equip K–12 students with the tools and knowledge of personal finance and economics, is offering them the opportunity to learn. Entries for its 14th Annual National Personal Finance Challenge have opened nationwide.
The competition engages students across the country in a thrilling, knowledge-building team experience while teaching them the essential personal finance knowledge they need to reach their full life-long economic potential and successfully navigate our ever-changing economy. The NPFC is presented with the support of lead national partner, VOYA Financial with additional support from Walmart and Charles Schwab Foundation.
NPFC covers the six core knowledge areas of personal finance giving students skills to prosper and create a better life for themselves and those around them. Research has long documented the association between financial literacy and the quality of real-life financial decision-making, including planning for retirement, financial resilience, and less debt. Increased financial education is linked to increased college aid applications and acceptance of federal loans over higher-cost loan options, and decreased likelihood of holding credit card balances.
Last year, a record 15,200 high schoolers competed in the NPFC from 32 states. 31% of participants identified as Black and Hispanic, communities often with less access to personal finance education. CEE is committed to the belief that financial knowledge is for everyone. To put this knowledge into practice, competing teams create a financial plan for a fictional family scenario and top scorers move on to compete in a quiz bowl to crown the champion. The competition offers an opportunity to build confidence and problem-solving abilities that will benefit students throughout their lives.
“The personal finance skills students take away from this competition equip them for success in the real world,” says Christopher Caltabiano, CEE Chief Program Officer. “We can’t expect a better future without ensuring our children have the fundamental knowledge to navigate their own personal finances. This competition is integral to the future financial success of the next generation.”
CEE aims to grow the competition to 50,000 participants annually within five years. To support this goal, CEE and VOYA are partnering to reach teachers working in underserved schools, with VOYA Volunteers offering online coaching. This will be the first year the national finals are held in Atlanta at VOYA’s headquarters
“The NPFC is one of the highlights of our year at Voya because the financial literacy skills participating students learn are central to our shared vision of a secure financial future for everyone,” says Heather Lavallee, Chief Executive Officer, Voya Financial. “Voya employees are big supporters of the NPFC, investing hundreds of volunteer hours annually to guide participants and witness their achievements firsthand at the national championship.”
To help motivate student participation, Schwab and Walmart have joined in supporting the NPFC in 2025. “At Charles Schwab, we envision a future where everyone is moneywise,” said Kristine Dixon, Managing Director, Schwab Community Affairs and Executive Director, Charles Schwab Foundation. “Schwab is proud to support the NPFC to help people of all backgrounds achieve brighter futures through financial literacy.”
“Offering and promoting financial tools helps empower people to live their best lives,” says Matthew Fitz-Gerald, Director, Corporate Affairs, Walmart. “We are pleased to support the effort to grow financial literacy by teaching young people essential personal finance skills through CEE’s National Personal Finance Challenge.”
Students are eligible to register now through the end of March, with winners moving on to state-level competitions in April. State-level winners receive an expense-paid trip to the National Finals held at VOYA’s headquarters in Atlanta, GA on June 1-2, 2025. Winning teams will gain national recognition and take away cash prizes: $2,000 per team member and coach for 1st place, $1000 per team member and coach for 2nd place, $500 per team member and coach for 3rd place, and $250 per team member and coach for 4th place. Students, educators, and parents can visit www.councilforeconed.org for more information and to sign up for the first round of the competition.
About the Council for Economic Education
The Council for Economic Education‘s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways. We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.
About Voya Financial ®
Voya Financial, Inc. (NYSE: VOYA) is a leading health, wealth and investment company with approximately 9,000 employees who are focused on achieving Voya’s aspirational vision: “Clearing your path to financial confidence and a more fulfilling life.” Through products, solutions and technologies, Voya helps its 15.2 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company and a leading benefits administration provider, extends the reach of Voya’s workplace benefits and savings offerings by engaging directly with over 12 million employees in the U.S. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is purpose-driven and committed to conducting business in a way that is economically, ethically, socially and environmentally responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies® by Ethisphere; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, LinkedIn and Instagram.
Media Contact
Katie Green, Dini von Mueffling Communications, 1 3474634377, [email protected], dvmcpr.com
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SOURCE Council for Economic Education
