Illinois Personal Finance Challenge

The IPFC recognizes students who demonstrate high levels of comprehension and application of personal finance concepts and skills. It also acknowledges educators like you for outstanding practices in teaching personal finance.

"Learn from other teachers about the curriculum Financial Fitness for Life, a great resource for IL Personal Finance Challenge preparation!"

Middle School

When you share personal finance topics in your classroom, students learn how our market economy works. Add an element of competition and watch the incentive to learn increase dramatically!  

High School

High school students are required to take a consumer education/personal finance course or coursework. The IPFC competition is the perfect way to engage your students and to assess how well they are meeting the state mandate.

Teachers of the following courses will be most interested in participating:

  • Business
  • Career & Technical Education
  • Economics
  • Entrepreneurship
  • Family & Consumer Science
  • Personal Finance

Online Competition 

Teachers, register on the Finance ChallengeOpens in new window website. You’ll find step-by-step directions as you register.

The online competition provides accessible online testing, so every school in the state can participate. Classes are broken into teams of three or four before answering a 30-question online test. To prepare students, you are provided all the rules of the program. There are no participation fees.

Middle school: Top-scoring teams for the middle school competitions receive medals and certificates. 

High school: The top teams from each of five regions in the state, plus the next five highest-scoring teams in the state advance to a state finals competition in Chicago. 

State Championship Round

High school: At the state competition, the student teams take a set of written tests and compete in a Case Study presentation to a business professional. The two teams with the highest team scores in four rounds of competition advance to the final Quiz Bowl. The State Championship team advances to the National Personal Finance Challenge competition in May. 

National Finals

High school: The first-place high school teams participate in the National Personal Finance Challenge competition held in May. 


The Illinois Personal Finance Challenge is brought to you through the generous support of our partners and donors, including our Partner of the Year BMO Harris Bank.  Additional support is provided by Bank of America and in‐kind support from the Federal Reserve Bank of Chicago. IPFC is endorsed by Illinois State Treasurer Michael W. Frerichs and the STEM Finance Learning Exchange.


Illinois Personal Finance ChallengeOpens a new window

Illinois Personal Finance Challenge is a signature program of Econ IL.

Bank of America

Thank you to Bank of America for funding this program.