Financial PLANNING

Financial Planning challenges members to apply personal finance knowledge by analyzing a family scenario and developing a plan to help them meet their financial goals. Members present their strategies in areas such as budgeting, saving, investing, and debt management through a live presentation.

 

Event Overview

Division: High School
Event Type: Team of 1, 2 or 3 members
Event Category: Presentation
Event Elements: Presentation with a Topic
Presentation: 3-minute set-up, 7-minute presentation time (one-minute warning), 3-minute Q&A
Educational Alignments

 

Items Provided by Competitors: Photo Identification, Conference-provided nametag, Attire that meets the Florida FBLA Dress Code, Technology and presentation items

Items Provided by FBLA: Table for preliminary round; Table, power, projector with HDMI cord, screen for final round

2026-27 Topic Synopsis

Rebuilding Financial Security: The Smith Family’s Future 

The Smith family is working to rebuild financial security after a period of unemployment, reduced household income, unexpected expenses, and increased credit card debt. With one child preparing to attend college, aging-parent care responsibilities, limited emergency savings, and retirement and insurance concerns, the family must balance several competing financial priorities. They are seeking guidance on improving cash flow, rebuilding savings, reducing debt, preparing for college and future caregiving expenses, increasing retirement contributions, and strengthening their overall financial protection. 

2026-27 Topic & Details
Background 

The Smith family has recently experienced several major life changes that have significantly affected their finances. They have asked your financial planning team to review their financial situation and develop a comprehensive financial plan that will help them achieve both their short-term and long-term goals. 

The family wants realistic recommendations that improve their financial security while preparing for future expenses. 

Family Profile

Family Member Age Occupation/Status Annual Gross Salary Key Notes
John Smith 45 Manufacturing $71,842 Recently accepted a new
Supervisor position after his previous
employer closed a local facility;
new job offers slightly lower pay
but better retirement benefits.

Jane Smith 43 Registered Nurse $38,617 Reduced work hours to help care
(part-time) for her aging mother.

Emily Smith 17 High School Senior N/A Planning to attend a four-year
university next year.

Matthew Smith 13 Middle School Student N/A Middle School Student

Financial Goals

  1. Build a stronger emergency fund.

  2. Pay off high-interest debt.

  3. Save for Emily’s college expenses.

  4. Increase retirement savings.

  5. Determine if the family has adequate insurance coverage.

  6. Develop a realistic monthly budget.

  7. Prepare financially for Jane’s mother potentially moving into their home within the next three years.

Annual Income

Source Amount
John’s Salary $71,842
Jane’s Salary $38,617
Interest Income $286
Dividend Income $547
Total Gross Income $111,292

Estimated Taxes
Tax Annual Amount
Federal Income Tax $9,143
State Income Tax $2,581
Social Security/Medicare $8,514
Total Taxes $20,238
Estimated Net Annual Income: $91,054
Estimated Monthly Net Income: $7,587.83

Assets

Asset Value
Checking Account $2,743
Saving Account $5,687
Emergency Fund $3,928
Home Market Value $318,450
John’s 401(k) $87,362
Jane’s IRA $29,184
529 College Savings Plan $13,247
Brokerage Investment Acct. $15,876
Two Vehicles $31,425
Household Furnishings $17,840
Total Assets $525,742

Debts

Debt Balance Interest Rate
 Mortgage $226,784 5.6%
Auto Loan $14,238 4.48%
Credit Card #1 $7,482 22.94%
Credit Card #2 $3,618 19.76%
Student Loan $17,863 4.92%
Total Debt $269,985

Monthly Expenses
Category Monthly Cost
 Mortgage $1,687.42
Utilities $338.76
Groceries $872.53
Transportation $541.89
Gasoline $247.38
Auto Insurance $218.64
Health Insurance $433.17
Medical Expenses $192.45
Cell Phones $146.82
Internet $87.89
Streaming Services $68.43
Dining Out $364.25
Entertainment $281.76
Clothing $169.58
Child Activities $233. 91
Credit Card Payments $462.37
Student Loan Payment $228.14
Auto Loan Payment $389.63
Miscellaneous $267.84
Total Monthly Expenses $7,232.96

Current Monthly Surplus 

Monthly Net Income: $7,587.83 
Monthly Expenses: $7,232.96 

Current Monthly Surplus: $354.87 

Current Investments: 

Retirement: 

  • John contributes 6.2% to his employer's 401(k). 

  • Employer matches 50% of the first 6%. 

  • Jane contributes 3.4% to her IRA annually. 

 

Education Savings 

  • 529 Plan currently contains $13,247. 

  • Family contributes $100 per month. 

 

Investment mix: 

  • 68% Stock Index Funds 

  • 22% Bond Funds 

  • 10% Cash 

 

Insurance Coverage 

  1. Health Insurance 

  2. Employer-sponsored family plan 

  3. $3,500 deductible 

  4. 20% coinsurance after deductible 

 

Homeowners Insurance 

  • Dwelling Coverage: $275,000 

  • Personal Property: $150,000 

  • Liability: $300,000 

 

Auto Insurance 

  • Liability: 100/300/100 

  • Collision and Comprehensive 

  • $1,000 deductible 

 

Life Insurance 

  • John: Employer Group Policy: $150,000 

  • Jane: Employer Group Policy: $50,000 

  • No additional individual life insurance policies. 

 

Disability Insurance 

John: Employer short-term disability only 

Jane: None 

 

Umbrella Liability Policy 

None 

 

Retirement Planning 

Desired Retirement Ages 

  • John: 65 

  • Jane: 65 

 

Estimated Retirement Income Goal: Approximately 80% of current household income 

Current Retirement Savings Rate: Approximately 8% of household income 

Financial planners generally recommend saving 15% or more of annual income for retirement, depending on age and financial goals. 

Additional Information 

During the past year: 

  • John experienced a three-month period of unemployment. 

  • The family used most of their emergency savings to cover living expenses. 

  • Credit card balances increased due to unexpected home and medical repairs. 

  • Jane reduced her work schedule to provide care for her mother. 

  • Interest rates on one credit card increased after a promotional rate expired. 

 

The family is financially stable today but is concerned about unexpected expenses and wants to improve their long-term financial outlook. 

Deliverables: 

Your financial planning team has been hired to prepare recommendations for the Smith family.  

Develop a financial plan that addresses the following: 

  • Analyze the family's current financial health using the information provided. 

  • Prepare a revised monthly budget that improves cash flow. 

  • Recommend strategies for rebuilding an emergency fund. 

  • Develop a debt repayment plan, including prioritization of high-interest debt. 

  • Evaluate current investments and recommend any changes. 

  • Recommend strategies for increasing retirement savings while balancing other financial goals. 

  • Evaluate the family's insurance coverage and identify any gaps or risks. 

  • Recommend strategies to help pay for Emily's college education. 

  • Identify tax planning opportunities that could improve the family's financial position. 

  • Prioritize the family's financial goals and justify the order of implementation. 

  • Identify potential financial risks over the next five years and recommend strategies to reduce those risks. 

District

Check with your District leadership for District-specific competition information.

State

Eligibility

·         FBLA membership dues are paid by 11:59 pm Eastern Time on December 1 (or earlier date specified by District Director) of the current program year.
·         Members may compete in an event at the State Leadership Conference (SLC) more than once if they have not previously placed in the top 10 of that event at the National Leadership Conference (NLC). If a member places in the top 10 of an event at the NLC, they are no longer eligible to compete in that event.
·         Members must be registered for the SLC and pay the state conference registration fee in order to participate in competitive events.
·         Members must stay within the official FBLA housing block of the official FBLA hotel to be eligible to compete.
·         Each district may be represented by participant(s) based on the Florida FBLA scaled quota system found on the Florida FBLA website.
·         Each member can only compete in one individual/team event and one chapter event (Community Service Project, Local Chapter Annual Business Report).
·         Each competitor must compete in all parts of an event for award eligibility.
·         All members of a team must consist of individuals from the same chapter.
·         Identification: Competitors must present valid photo identification (physical) that matches the name on their conference name badge. Acceptable forms include a driver’s license, passport, state-issued ID, or school ID.
·         If competitors are late for an objective test, they may be either disqualified or permitted to begin late with no extension of the time as scheduled.  If competitors are late for a presentation time, they may be disqualified or placed later in the schedule.  The decision is solely up to the judges.
·         Participants must adhere to the Florida FBLA dress code established by the Florida Board of Directors or they will not be permitted to participate in the competitive event.

Recognition

·         The number of competitors will determine the number of winners. The maximum number of winners for each competitive event is 4. 

Event Administration

·         This event is two phases: preliminary presentation and final presentation

·         Preliminary Interactive Role Play Presentation

o   Equipment Set up Time: 3 minutes
o   Presentation Time: 7 minutes (one-minute warning)
o   Question & Answer: 3 minutes
o   Important: Time allocations are exclusive. The presentation must begin immediately after the 3-minute set-up time concludes. Time may not be shifted between segments. Competitors will not interact with judges during the set-up period.
o   Presentation occur in person at the State Leadership Conference (SLC).
o   Competitors/teams are randomly assigned to presentation sections.
o   Internet Access: Not Provided
o   Presentations must be delivered using one or two personal devices (laptop, tablet, mobile phone, or monitor approximately laptop-sized).
o   If using two devices, one must face the judges and the other must face the presenters.
o   Projectors and projector screens are not permitted, and competitors may not bring their own.
o   Wireless slide advancers (e.g., presentation clickers or mice) are allowed.
o   External speakers are not allowed; audio must come directly from the presenting device(s).
o   Electricity will not be available.
o   Visual aids, samples, notes, and other physical materials related to the project may be used.
o   Items may be placed on the provided table or on the judges table, if space allows.
o   No items may be left with the judges following the presentation.
o   Restricted Items: Animals, except for authorized service animals; Food, which may be used for display only and may not be consumed by judges; Links and QR codes, which may be shown but may not be scanned or clicked by judges at any time.
o   Information must be supported by credible, well-documented sources.
o   Any use of copyrighted material, images, logos, or trademarks must be properly documented.
o   In team presentations, all members must actively participate in the delivery of the presentation.
o   Event Specific Information: The presentation should include information and evidence about the actual event

· Budgeting: Explain the importance of tracking income and expenses. How can effective budgeting contribute to achieving long-term financial goals?

· Debt Management: What strategies can be used to responsibly manage and reduce debt? Consider both short-term and long-term approaches.

· Investments & Retirement: Should one prioritize investing or saving for retirement, or is it feasible to do both? Justify your reasoning based on the client’s financial situation and goals.

· Goal Attainment: Based on the financial goals provided, what steps or strategies would you recommend to help achieve them?

· Recommendations: What specific financial recommendations or alternative approaches would you suggest to improve the individual’s financial outlook?

· Professional Guidance: Are there financial professionals or services the individual should consult? Explain the value they may provide.

·         Final Interactive Role Play Presentation

o   Equipment Set up Time: 3 minutes
o   Presentation Time: 7 minutes (one-minute warning)
o   Question & Answer: 3 minutes
o   Important: Time allocations are exclusive. The presentation must begin immediately after the 3-minute set-up time concludes. Time may not be shifted between segments. Competitors will not interact with judges during the set-up period.
o   The top-scoring competitors or teams from each preliminary section will advance to the final round in equal numbers. If there are fewer than 15 entries, the final round will be eliminated.
o   All other guidelines from the preliminary presentation will apply.

Scoring

·         The initial role play presentation scores only will be used to determine the finalists.
·         The final role play presentation scores only will be used to determine the winners.
·         Decisions of the judges are final. Judges are responsible for breaking all ties in both preliminary and final rounds. All judging decisions are final. Results announced at the State Leadership Conference are considered official and will not be changed after the conclusion of the State Leadership Conference.

Recording of Presentations

·         No unauthorized audio or video recording devices will be allowed in any competitive event.
·         Participants in the events should be aware FBLA reserves the right to record any presentation for use in study or training materials.

Americans with Disabilities Act (ADA)

·         FBLA complies with the Americans with Disabilities Act (ADA) by providing reasonable accommodations for competitors. Accommodation requests must be submitted through the conference registration system by the official registration deadline. All requests will be reviewed, and additional documentation may be required to determine eligibility and appropriate support.

Penalty Points

·         Competitors may be disqualified if they violate the Competitive Event Guidelines or the Honor Code.

Electronic Devices

·         All electronic devices such as cell phones, headphones, and watches of any type are not to be brought to the testing site.

National

If you are competing on the National level, be sure to see the National guidelines at https://www.fbla.org/divisions/fbla/fbla-competitive-events/