Virginia Council on Economic Education
Personal Finance Case Study
2015 Case Study Information:
Top scoring student teams in the online Personal Finance Division of the Governorís Challenge who accept an invitation to participate in the statewide Championship on April 17, 2015, must: 
  • Provide a written report in any format they believe appropriate that addresses the issues/questions raised by the Babbitt family in the attached Case Study and accompanying balance sheet and budget. The report should set forth their recommendations and include any assumptions and calculations they believe would be helpful for the Babbitt family/judges.   [Note: Three to four students per team.  Substitutions for good cause are allowed.]

    2015 Personal Finance Case Study
    2015 Personal Finance Case Study - Budget and Balance Sheet
    2015 Personal Finance Case Study Rubric

  • Submit the report by Tuesday, April 14, 2015 by NOON. The report cover should include the names of the student financial planning team, and the name of their sponsoring teacher, school and school division. E-mail the report to Sarah Hopkins Finley at You will receive notification of receipt by return e-mail. If acknowledgement is not received within 30 minutes, please call Page Ritter to confirm receipt of the report (804-828-1627.)  MAXIMUM page limit: the report with recommendations may not exceed 10 pages, not including the cover page. An appendix may also be added with any supporting documentation and calculations deemed appropriate.
  • The final Championship component of the Governorís Challenge takes place on April 17, 2015 at the VCU Commons in Richmond, VA from 9:30am to 2:30pm (registration and refreshments begin at 9:00am.) Student teams competing in the Personal Finance Division of this Challenge, will present their recommendations to the Babbit family (a panel of judges) in the morning. With only the Babbit family/judges in attendance, each team presentation is limited to five minutes, with five minutes of questions from the judges and a few minutes in the beginning for any set up and at the end for feedback. The scoring rubric is provided above.  Each teacher will recieve the final scoring for their team after the final round. 
  • After lunch, based on the scores from the morning presentations, the top two teams will present their recommendations to the entire group of students and adults in attendance. Presentations will be limited to seven minutes plus an additional five minutes for questions from the judges. The second team to present will not be in the room while the first team is presenting. From these two teams, one will be awarded first place and one second place in the state. 
  • Technology will be available at the VCU Commons.  It will be best for students to bring their presentation on a flash drive and use our computer and projection, but also good to bring their own laptop as a back up if desired or if they use a Mac.  

For all high school students: 

Regardless of whether you are able to participate in the Governorís Challenge on April 17th, we hope you will review the issues raised by the Babbitt family and consider what advice you would suggest to them. Doing so will provide a good opportunity to apply many of the personal finance concepts and knowledge that will be valuable throughout your life.  

Below are earlier Case Studies involving other family situations.  They also provide a good opportunity to exercise your financial knowledge.  

2014 Personal Finance Case Study 

2014 Personal Finance Case Study - Budget and Balance Sheet

2013 Personal Finance Case Study

2013 Personal Finance Case Study - Budget and Balance Sheet 

2012 Personal Finance Case Study

2012 Personal Finance Case Study Balance Sheet

2012 Personal Finance Case Study Budget

Important Dates
Teacher registration begins
January 1, 2015
Online Challenge Begins
March 2, 2015
Online Challenge Ends
March 24, 2015 @ 5:00pm
Championship Challenge, by invitation, in Richmond
April 17, 2015