Digging Deeper--College Students are Anxious about Money

|
Apr 23, 2018
|
Paying for College, Research
In the course of seven years of teaching personal finance to college students, I have had my share of experiences facing a silent audience, unwilling to engage. It is especially difficult to deal with if, on occasion, you have had a group that is totally engaged in the topic with no effort on your part.  This has been a great source of frustration as an educator.  I had trouble understanding why the students would decide to take the class or show up for a workshop on personal finance,...

What's up with an 18-Hour Workshop?!?!?!

|
Apr 22, 2018
|
PRO Tip from NGPF, Personal Finance
THE PROBLEM: We know -- it's sort of weird -- how in the world did we choose 18 HOURS for a workshop time? So random! Well, let me tell you as part of a new VLOG initiative called PRO Tip from NGPF...    THE ANSWER: Watch this 1-minute video to find out! ...

Question of the Day: Given $10,000 to invest, what would be the #1 choice for millennials?

|
Apr 22, 2018
|
Question of the Day, Credit Cards, Research, Investing
Answer: Pay down debt (22.4% of respondents) Here were the next 4 most popular answers: Real Estate (15.1%) Education (9.9%) Virtual Currency (9.2%) 401(k) or Roth IRA (8.5%) Questions: What would you do with $10,000 to invest?  What type of debt do you think most millennials would choose to pay down? Over 9% of millennials would choose to put their money in virtual currency (e.g., Bitcoin). Do you think this is a good decision? Why or why not? Do you think of “paying down...

Behavioral Finance Panel with Professors Meir Statman (Santa Clara University) and Terry Odean (Berkeley) at NGPF Summit

|
Apr 20, 2018
|
Podcasts, Behavioral Finance
Imagine facing a room full of 100+ educators from 30 states across the country.  We can be a pretty tough audience, but we were putty in the hands of some true masters at the NGPF 2018 Summit in San Francisco in mid-March.   The first panel we attended was on Behavioral Finance.  Leading the intros and discussion was Allan Roth Founder of Wealth Logic, LLC.  (Ever read How a Second Grader Beats Wall Street? I did and really enjoyed it, so I was already psyched.) Here's a...

What I'm Reading This Weekend (April 21-22)

|
Apr 20, 2018
|
Current Events, Investing, Personal Finance
The recurring theme in many of these articles this week is statistics. These articles are either full of great stats or demonstrate how statistics are used to explain the world we are observing. Living A better understanding of the odds or probability in any situation allows you to "pick the statistic you want to be." In this (somewhat long) article on the Pareto Principle you learn why the 1% keep "winning" the game. Making better decisions every day can increase your productivity. ...

What's New With..........Careers

|
Apr 19, 2018
|
Career, Paying for College, Employment
Alternatives to College This article highlights options that are mostly in the digital arena.  Jobs are lined up by “graduation." The economy is short on auto mechanics.  Car fanatics can turn their passion into a solid career.   There is also very  high demand for people with construction skills.  Employers will train and pay well. STEM Careers Are you an artist or an actor? You might consider applying your artistic skills in the engineering world. Ever...

Schools in the News

|
Apr 19, 2018
|
Schools In News, Activities, Current Events, Teaching Strategies, Entrepreneurship
Banking on the Future: Winooski Teacher Primes Students for Financial Success (KidsVT) When it comes to teaching kids personal finance, Vermont gets a D. The 2017 National Report Card on State Efforts to Improve Financial Literacy in High Schools — put out by Champlain College's Center for Financial Literacy — dings the state for setting "modest levels" of personal finance education in state academic standards, providing no specifics on instruction and no oversight to the school...

Question of the Day: What is Senior Citizens' Biggest Financial Regret From Their 20s?

|
Apr 19, 2018
|
Personal Finance, Retirement, Current Events, Research, Investing
Answer: Didn't save enough for retirement. Questions: Why do you think that 20-somethings have so much difficulty saving for retirement? What do you think seniors mean when they say "spent too much on non-essentials?" How would you answer the question, "what is your biggest financial regret?"  Here's the ready-to-use slides for classroom use.  Behind the numbers (from Priceonomics): The plurality of the respondents, 21.4 percent, indicated that the biggest financial regret from...

Question of the Day: What percent of taxpayers don’t know what a W-4 is?

|
Apr 18, 2018
|
Question of the Day, Current Events, Taxes, Research
Answer: 57% Questions: Do you know what a W-4 is? If so, Explain what it is in your own words. How did you learn about it?  Given that anyone who earns a paycheck has to complete a W-4, why do you think so many people still don't know what it is?  You are hired by the I.R.S. to rename the W-4 so more people will remember it. What would you call it?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom....

Just One Resource - Understanding Amortization

|
Apr 18, 2018
|
Just One Resource, Activity, Math
        In this new weekly blog post, Jessica will highlight Just One Resource from our NGPF collection that maybe doesn't get the attention it deserves. Use it this week or bookmark it for later.    [The Resource]  ANALYZE: Understanding Amortization The Gist: Young Janet decides to treat herself to 6 weeks of South American travel before starting her first post-college job, and she's going to finance the trip using a $3500 personal loan. Her credit...

Math Spotlight: Nothing can be said to be certain, except MATH and taxes

|
Apr 18, 2018
|
Math, Taxes, Teaching Strategies
So yesterday was the beloved TAX DAY here in the US. Funnily enough, the IRS website was down so maybe those procrastinators will get lucky and be given an extension (update: they were given one more day). I’m sure that students are asking all types of tax questions due to both current events and the tax season, so it is only fitting that we highlight a Taxes Activity related to Math for our Math Spotlight this week! Drum roll…To kick it off, CALCULATE: Completing a 1040EZ is a...

In the Trenches: The Impact of Personal Finance Education

|
Apr 17, 2018
|
Teaching Strategies, Tips for Teachers, Personal Finance
From Wayne Goulet of Randolph Technical Career Center (Vermont): I'm teaching the NGPF Semester curriculum as a Vermont Technical College (VTC) dual enrollment course in my classroom. We recently completed the Savings Unit. While teaching the unit, I was surprised to learn that many of my students do not have a savings accounts. However, on the day we completed the unit, one student decided he was going to visit a local bank to sign up for a savings account in order to deposit his paycheck from...

Mini-Activity Idea: How To Avoid Financial Pitfalls

|
Apr 17, 2018
|
Financial Scams, Behavioral Finance, Activity, Article, Activities
A great article from Of Dollars and Data that highlights six of the "tried and true" methods that make us susceptible to financial trickery or just plain bad decisions. On the subject of trickery, be sure to check out NGPF's release of SIX NEW Financial Pitfalls Projects that will increase your student's savviness. So what are the six ways of influence described in the article (with the tag lines he provides): Authority: Trust me I'm an expert.  Commitment and consistency: Just say...

Question: Who pays more in income taxes: corporations or individuals?

|
Apr 17, 2018
|
Question of the Day, Taxes, Research
Answer: Individuals pay five times more ($1.66 trillion) compared to corporations ($324 billion) based on fiscal year 2017 projections Questions: Who do you think should pay more in taxes? Why? When it comes to lobbying Congress on taxes, who do you think has more power: individuals or corporations? Explain.  What do you think is a more powerful boost to the economy: a dollar of corporate tax cuts or a dollar of individual tax cuts?   Click here for the ready-to-go...

Digging Deeper into the PBS series: Two Cents--The Universal Personal Finance Currency for All Ages

|
Apr 16, 2018
|
Personal Finance, Behavioral Finance, Teaching Strategies
  My Two Cents on Two Cents After listening to the NGPF Podcast with the creators (and stars) of the PBS Series “Two Cents,” I decided to ‘dig deeper’ and I binge watched every episode available to date!  I really like them!!! I have been trying to figure out exactly what it is about the series that I found so engaging. Here are my top (4) reasons: 1) The videos are entertaining! They have just the right amount of animation, humor, and music. 2) They are...