TERMS AND CONDITIONS

2025 BUDGET BUILDER CHALLENGE Official Terms and Conditions for Financial Literacy Month Budget Builder Challenge

These Terms and Conditions (“Terms”) govern participation in the 2025 Budget Builder Challenge (the “Challenge”). The Challenge is operated by The Scholarship Collective LLC (“TSC,” “we,” “us,” or “our”). By entering, participants agree to these Terms.

Eligibility

• The Challenge is open to active members of The Scholarship Essay Academy or Scholarships Near Me Plus (“Memberships”) at TSC as of the date the winners are selected.
• Membership must remain active through May 15, 2025, when winners are announced.
• Participants must be at least 13 years old
• Employees, contractors, and affiliates of TSC and their immediate family members are not eligible to win prizes.

Challenge Period

• The Challenge begins on April 1, 2025, at 12:00 AM EST and ends on April 30, 2025, at 11:59 PM EST

• Submissions received after the deadline will not be considered

How to Enter

• Participants must complete all challenge components in two parts:

Part I: Future Salary Research and Analysis

1. Research and document expected post-graduation salary using approved resources:
   • CareerOneStop
   • ZipRecruiter
   • Indeed
2. Calculate estimated take-home pay using PayCheckCity:
   • Use state-specific calculations
   • Input projected gross salary
   • Calculate bi-weekly payment schedule
   • Document final calculations

Part II: Budget Creation and Planning

3. Create a comprehensive monthly budget using:

• The provided Budget Google Sheet template OR
• A self-created Google Sheet following provided guidelines

4. Budget must include:

• Monthly take-home pay calculation (bi-weekly after taxes × 2)
• Expense allocations following the provided Expense Allocation Guide

5. Written Reflection Requirement 5. Submit a detailed budget rationale (minimum 100 words) that includes:

• Specific reasoning for each expense allocation
• Context for budgeting decisions
• Explanation of financial priorities
• Long-term financial planning considerations

Submission Requirements and Judging Criteria

All documentation must be submitted through the designated area in the Membership portal by April 30, 2025, at 11:59 PM EST. Submissions must include:

• Details of salary research
• PayCheckCity calculation results
• Completed budget spreadsheet
• Written budget rationale (minimum 100 words)

Only one entry per participant is allowed. All submissions must use the provided templates or follow the specified format.

Judging Criteria Submissions will be evaluated based on the following 100-point rubric:

1. Budget Research & Accuracy (40 points)
   • Accurate salary research using approved resources (10 points)
   • Correct take-home pay calculations (10 points)
   • Realistic expense estimates based on location (10 points)
   • Appropriate use of expense allocation guidelines (10 points)
2. Budget Rationale & Planning (40 points)
   • Clear explanation of expense allocation decisions (10 points)
   • Thoughtful consideration of financial priorities (10 points)
   • Realistic emergency fund and savings planning (10 points)
   • Strategic debt management and future planning (10 points)
3. Submission Completeness (20 points)
   • All required documentation submitted (5 points)
   • Minimum 100-word reflection requirement met (5 points)
   • Proper use of provided templates/formats (5 points)
   • Clear organization and presentation (5 points)

Additional Judging Notes:

• Aesthetic presentation of spreadsheets will not impact scoring
• Submissions scoring below 60 points will not be eligible for prizes
• In case of a tie, higher scores in the Budget Rationale & Planning category will determine the winner
• The decision of the judging panel is final and binding

Prizes

• First Place: $250
• Second Place: $150
• Third Place: $100

Prizes will be distributed via the payment method specified by winners and are non-transferable. Winners are solely responsible for any taxes or fees associated with receiving their prize.

Winners Announcement

Winners will be announced on or around May 15, 2025, through email, social media, and the Membership portal. Winners will be contacted via the email associated with their Membership.

Intellectual Property Rights

All Challenge materials, templates, and content are copyrighted to TSC © 2025. Selling, altering, or replicating Challenge materials is prohibited by law. Participants retain rights to their submitted budgets but grant TSC license to use for promotional purposes.

Technical Requirements

TSC is not responsible for technical difficulties or submission errors. Participants are responsible for maintaining their own internet connection and access to the platform.

Privacy and Security

Credit card information is never stored by TSC. Personal information collected will be kept strictly confidential. Aggregate data may be used for educational purposes without identifying information. For complete details, see our Privacy Policy at https://go.scholarshipjunkie.com/privacy-policy/

Disclaimers

TSC is not affiliated with or endorsed by Facebook™ or any other third-party platforms mentioned in these Terms. All third-party resources mentioned (CareerOneStop, ZipRecruiter, Indeed, PayCheckCity) are provided for reference only.

Contact Information

For questions about the Challenge or these Terms, please contact: Email: membership@scholarshipjunkie.com

General Conditions

TSC reserves the right to modify or cancel the Challenge at any time. Participants release TSC from any liability related to the Challenge. These Terms constitute the entire agreement between participants and TSC regarding the Challenge.

By participating, you acknowledge that you have read, understood, and agree to these Terms.

Last Updated: March 8, 2025