By Lisa Carolin
Chelsea High School (CHS) has done it again. For the sixth consecutive time, the school has won the state title at the Personal Finance Challenge.
CHS teacher Matt Pedlow is the team’s advisor, and the team of Peter Mourad, Sarah Capper, Gavin Ijere, and Owen Critchfield was determined to be the best from their room with the other Chelsea team of David Berg, Austin McCaherty, Daniel Budd, and Flo Ziolkowski also doing a great job.
“One of the judges said it was ‘like splitting hairs’ to figure out which team from Chelsea would move on to the quiz bowl portion of the competition when the top two teams are pitted against each other and the questions are all about personal finance,” said Pedlow.
For the second year in a row, CHS competed against the International Academy at Bloomfield Hills, one of the top ranked schools in the U.S. That didn’t discourage the Chelsea team. The Chelsea students led from the start and went on to win the quiz bowl 13-4.
“The Personal Finance Challenge is a competition for students around the country in which they are given a fictional family’s finances and then make recommendations about savings, debt, taxes, and insurance,” explained Pedlow. “The students then present their findings to a panel of financial experts in which they are each asked specific questions about their recommendations.
Pedlow cited this sample quiz bowl question: “What is the term for the percentage of available credit that a borrower is currently using, calculated by dividing the total outstanding balance by the total credit limit?” The answer is credit utilization.
CHS Principal Nick Angel said, “This is an incredible accomplishment and highlights the dedication and hard work that our students have put forth as we were recognized as a state champion yet again at CHS.”
The winning team now moves on to the national finals, which take place on June 5 at the Federal Reserve in Cleveland, Ohio.
