Do’s and Dont’s of Personal Financial Literacy

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by: Tae’ Lyn Nicholson, district Xi vp of social media

The Personal Financial Literacy Event measures the personal finance knowledge and skills a DECA member should possess, it is designed to measure your ability to apply reliable information and systematic decision making to personal financial decisions. You automatically have the advantage in this event when you have prior knowledge or experience whether it be from your personal finances or by taking finance related courses. Since this is a role play event, you will be required to required to take a 100-question exam, have 10 minutes to prep time and then 10 minutes to present your case study before a judge. 

1. STUDYING – Lets just be honest, studying is a major dislike amongst students, but to succeed in this event, studying is vital. Visit deca.org & texasdeca.org to see the hundreds of study material that's been provided. 

DO STUDY THE PRACTICE TEST – One of the best resources that we’ve been granted are the practice tests. These are questions that have previously been used and that you may see again on your actual 100 question exam, so its best that you familiarize yourself with them. 

DON'T WASTE TIME – Competition season comes very fast so it's best that you give yourself time to prepare. Remember it is impossible to prepare when you procrastinate, You’re on the road to DECA glass!

2. TESTING – Taking 100-question exams in just 90 minutes isn’t an easy task. It’s important that you remain alert and use great test taking strategies. 

DO THE QUESTIONS THAT YOU’VE SEEN BEFORE FIRST – If you took the time to study the practice test, then you will notice that some of the questions are the same or very similar. Do those first so that you have time to focus on more challenging ones. 

DON’T EAT A HEAVY AN BREAKFAST OR MEAL BEFOREHAND – When you eat heavy you get something I call “THE ITIS”. In other words, you get sleepy and instead of focusing on your test, you focus on fighting your sleep. Eat something light on your stomach like fruit or cereal.

3. ROLE PLAY – A role play can be very stressful, especially when its your very first time doing one. However, there are ways to get rid of the anxiety and give your judge the best role play they’ve ever seen. 
Quick Tip: The very first thing you want to do is greet your judge by shaking their hand, telling them your name and what your role is given by the case study. 

DO PAY CLOSE ATTENTION TO THE PERFORMANCE INDICATORS – The performance indicators are the specific topic questions that your judge will ask you, familiarize yourself with them so you know type of questions you’ll be asked. 

DON’T SAY “I DON T KNOW” – If you don’t understand a question, then that completely okay to ask your judge to clarify or explain the question to you. Remember you want to treat this like a job / professional career interview. Would you say I don’t know to a question asked by a future boss?