Washington State Department of Financial Institutions

News Release

Friday, April 25, 2008

Lyn Peters, Director of Communications, Department of Financial Institutions
PH (360) 902-8731 lpeters@dfi.wa.gov

Jeremy Lushene, Communications Consultant, Department of Financial Institutions
PH 360.902.0506, jlushene@dfi.wa.gov


DFI Supports Presidential Financial Literacy Challenge, Encourages Teachers To Register, Students To Participate

OLYMPIA - The Washington State Department of Financial Institutions (DFI) encourages high school teachers and afterschool programs across the state to sign their students up for the first National Financial Literacy Challenge.

The President's Advisory Council on Financial Literacy is launching the National Financial Literacy Challenge in the same spirit as the President’s Physical Fitness Challenge – a fun approach to personal growth and competition. The Challenge is a fun activity that motivates students to become educated about personal money management with recognition and prizes for top performers.

About The Challenge

The Challenge is free and will test the financial literacy levels of America’s high school students, ages 13-18. The challenge is open to high school classrooms as well as after-school non-profit community organizations.

The test can be taken anytime in the 3-week time period for the Challenge. The Challenge begins Monday, April 28, during financial literacy month, and concludes Friday, May 16.

The Challenge will be offered online, and consists of 35 questions on basic personal finance. The questions are based on the 2007 Jump$tart standards. Larger classrooms may require the use of a computer lab.

Students should be able to complete the Challenge questions in 40-45 minutes. Students may only take the test once.

Additional details are posted on the Challenge Web site.

Recognition And Prizes

Students scoring in the top 25th percentile of national scores are eligible for recognition from the President’s Advisory Council on Financial Literacy. Recognition will include a certificate from the Council.

One student from each region (10 total regions across the U.S.) will also receive:

Resources To Help Students Prepare For The Challenge

DFI's Right On The Money
DFI's Right On The Money introduces high school and college students to personal money management. Topics such as banking, budgeting, saving, and investing are covered.

MyMoney.gov is the U.S. government's website dedicated to teaching all Americans the basics about financial education.

Practical Money Skills
PracticalMoneySkills.com is a free Web site designed to help educators, parents and students practice better money management for life. The Web site contains free curriculum, tools, and resources.

High School Financial Planning Program
A complete high school student’s guide to budgeting, investing, debt management, insurance, and a career.

About DFI
www.dfi.wa.gov ▪ 360.902.8700 ▪ 877.746.4334 ▪ En Espaņol 877.976.4422
The Washington State Department of Financial Institutions regulates a variety of financial service providers such as banks, credit unions, mortgage brokers, consumer loan companies, payday lenders, and securities brokers and dealers. The department has won numerous awards for its financial literacy and outreach programs developed to protect consumers from financial fraud. In addition to posting information about licensees and administrative actions, the DFI’s Web site features consumer tips on a variety of financial fraud-related topics. For more financial education news, visit DFI’s Financial Literacy Blog “Money Talks” at http://finlit.blogspot.com/.