This article was written by Kim Asarta.
Twelve high school teams from across Delaware put their financial literacy skills to the test at the 16th annual Delaware Personal Finance Challenge, hosted by the University of Delaware’s Center for Economic Education and Entrepreneurship (CEEE) and sponsored by the Delaware Council on Economic Education in partnership with Bank of America. Nearly 65 students and educators gathered for a day of academic competition centered on real-world personal finance concepts such as saving, spending, investing, managing risk, and earning income. These concepts correlate to Delaware’s Financial Literacy Standards for high school. Many teams prepared for the competition using the Keys to Financial Success curriculum, a program originally developed by CEEE, the Federal Reserve Bank of Philadelphia, and the Delaware Bankers Association.
The competition unfolded over four rounds, beginning with individual and team-based written tests. Between rounds, students enjoyed trivia breaks and the always-popular Cash Wall, which rewarded the highest-scoring students from rounds one and two with a visit.
Dhruv Raval, a 12th-grade student from Appoquinimink High School, reflected on the experience, “It was a quick and fun refresher between all the tension of the tests. This was my first year taking part, and I wish I had been part of it all throughout my high school years. By taking part in this I was able to learn new things that I never knew before.”
During the high-energy quiz bowl finale, students from Newark Charter High School, led by social studies teacher Mike Renn, edged out Appoquinimink High School, coached by social studies teacher Cheryl Apparicio, by just one point to claim their fourth consecutive state title.
Gail Colbert, CEEE program coordinator, commented, “This was one of the closest Personal Finance Challenge (PFC) competitions I have seen in the past eight years. All twelve teams were very impressive in their test scores, and we know how much time and effort teachers and students put into preparing. These students definitely showed a genuine understanding of a wide variety of personal finance concepts.”
Bank of America volunteer Lanette Taylor-Smith was impressed by the students’ ability to apply their knowledge beyond memorization. “What impressed me most was seeing students demonstrate critical thinking and problem-solving while making financial decisions that mirror real-world scenarios. The challenge bridges classroom concepts with practical application, transforming abstract ideas like interest rates into tangible insights about credit card debt and loan decisions. This approach makes financial education engaging, practical, and truly empowering for students.”
That emphasis on real-world skills was echoed by students themselves. Christopher James, a senior at Appoquinimink High School, “I learned a lot of new things about personal finance; skills that I will be able to use in my future.”
Beyond the valuable skills gained, the program celebrates achievement with $500 awarded to each first-place winner and $250 to each second-place winner. But Bank of America volunteer Ryan Conner sums it up best: “While the challenge is a great opportunity to have fun and get rewarded, the real reward is seeing students prepared for life. They’re equipped with the knowledge they need to confidently manage their financial futures.”