Financial Education According to Danielle: Store Credit and How Retailers Trick You to Sign Up

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Oct 18, 2018
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Budgeting, Current Events, Behavioral Finance
Seemingly every major retail chain is offering a branded credit card to their customers.  You’ve heard it before - “would you like to sign up for our credit card and get 15% off of today’s purchase?” What’s a good deal for the store may not be a good deal for you. Watch out for these retail tricks and think twice before buying something you don’t need on store credit - you may end up getting more than you bargained for. “You can get X% off your...

Question of the Day: A YouTuber with over 1.4 million views a month can expect to earn about _____________ in monthly income.

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Oct 17, 2018
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Question of the Day, Career, Research, Current Events
Answer: $1,400  Questions: Have you or any friends created a YouTube channel and built an audience? 3% of YouTubers get 90% of YouTube views. What do you think demonstrates about popularity on the internet? How do you decide what to watch on YouTube? How do you find about popular videos that might be of interest to you? Do you think $1,400 a month is enough for an independent adult to live on? Here's the ready-to-go slides for this Question of the Day that you can use in your...

Chart of the Week: How good of an investment is real estate?

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Oct 17, 2018
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Investing, Question of the Day, Chart of the Week, Mortgages, Research
Hat tip to A Wealth of Common Sense blog for this awesome data distilled from Case-Shiller/FRED index of home prices: Notes: Positive is number of years that home prices rose in the period 1987-2018 Negative is the number of years that home prices declined in period 1987-2018 Biggest gain is the largest gain in home prices on a year-over-year basis. Biggest loss is the largest loss in home prices on a year-over-year basis.  Annual Gains is the average annual gain in home prices over this...

Launching a Topic with a PBS Two Cents Video

Oct 16, 2018
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Lesson Idea, Activity
Over the summer I had posted a couple of Kahoots based on Two Cents videos on the FinLit Fanatics! Facebook Page.  These generated some interest, and after an unplanned hiatus, I am finally posting some more.  The videos are between 4-6 minutes long, are well researched, entertaining, and they are pitched at an appropriate level for high school students.   This Google Sheet contains the following elements for ten of the videos: 1) The title of the video, which links to...

Question of the Day: What is the length (in minutes) of the average commute?

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Oct 16, 2018
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Budgeting, Question of the Day, Research, Current Events
Answer: 26 minutes Questions: Why do you think the average length of commute has risen by 20% between 1980 and 2016? How important is the commute for you when it comes to looking for a job? Explain. Other than time, what are the additional costs of commuting?  What do you think is the relationship between commute length and rental cost (for an apartment)? The shorter the commute to work...the ____________ the rent. Explain.  Here's the ready-to-go slides for this Question...

Just One Resource - ANALYZE: Should I Insure This Group?

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Oct 16, 2018
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Just One Resource
    In this weekly blog post, the Curriculum team 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: Should I Insure This Group? The Gist: Insurance can be...well, let's face it...a boring challenging topic to teach students. So, here's a fun way to introduce how insurance works, from the insurance company's perspective. Students step...

Podcast episodes with founders of Instagram, Spotify and Slack for your budding entrepreneurs

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Oct 15, 2018
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Entrepreneurship, Podcasts
I started business school with my mind set on getting a job at an investment firm. I really enjoyed investing in stocks for my own personal account and thought how cool it would be to do that for a living (It only took a year in that role to dispel that notion). The most popular club on campus, however, was not the Investment Club but rather than the Entrepreneurship Club which also drew me in. What made the club so appealing? The guests. Founders of companies large and small came to campus from...

Question of the Day: What's the median hourly wage for an UberX driver?

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Oct 15, 2018
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Entrepreneurship, Question of the Day, Career, Research, Employment
Answer: $14.73 Questions:  What are the factors that lead to such wide variations in median hourly wages between cities?  What costs would an Uber driver incur which would reduce their hourly income? Do you think these median figures have been increasing or decreasing compared to three years ago? Explain your answer. Uber now has over 2 million drivers globally. What do you think attracts them to drive for the company?  Here's the ready-to-go slides for this Question...

Question of the Day; What percent of 18-29 year olds have a primary care doctor?

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Oct 14, 2018
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Question of the Day, Budgeting, Current Events, Research
Answer: 55% Questions: In your own words, what is a primary care doctor?  Do you think that having a primary care doctor is important? Why or why not? For the 45% of 18-29 year-olds that don't have a primary care doctor, who do you think they turn to when they have a health problem?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Chicago Tribune):  A national poll of 1,200 randomly selected adults...

Interactive Monday: What a map of every building in the U.S. can teach us about economic development

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Oct 14, 2018
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Interactive, Economics, Current Events
I woke up this morning to a cool interactive from NYT (hat tip to Big Picture Blog) with a map of every building in America. Just type in any town or city that you are interested in and you see a satellite view with the outlines of every building in that area. You can hook your students by telling them they have been hired to be economic development sleuths. They will be using satellite views of their community to figure out what drives their local economy.  So, for example, here's a...

Reading List for October 13-14

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Oct 12, 2018
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Investing, Current Events, Economics, Paying for College, Math
Investing Bringing you lots of relevant articles on investing this week, from current events (stock market drop this week and interest rate increases) to analysis of booms, busts, and advice. Wednesday’s market drop as explained by the New York Times. Here is an article from 2016 by Ron Lieber (NYT) that came up in my feed but is timeless advice relating to this week’s market movement. Neil Irwin explains in his Upshot article (NYT) the upside of rising interest rates. This one from...

NGPF Podcast: Tim Talks To Gwen Tulin and Victoria Golden of Brain Arts Production (Chicago, IL)

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Oct 12, 2018
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Podcasts, Tips for Teachers, Personal Finance, Activities
Brain Arts Production is the brainchild—pun intended—of Gwen Tulin and Victoria Golden, who have a passion for using the dramatic arts to educate young people about money. This Chicago-based nonprofit has a mission to help students build financial literacy skills through the creative method of learning by doing. The organization teaches students money skills through projects such as pitching a business in a Shark Tank scenarios or staying on budget while producing a short film. Gwen...

FinCap Friday: Playing With F.I.R.E.

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Oct 11, 2018
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FinCap Fridays, Retirement, Investing, Index Funds
How can you possibly engage high schoolers in a conversation about retirement? They haven't even gotten their first real job yet so it's not exactly on their radar screen. By highlighting the F.I.R.E. movement (that's Financial Independence, Retire Early) and the extreme examples of retirees in their 30s, we hope that gets your students thinking "How'd they do that?" That should spur a great conversation about savings rates and the importance of investing while you are young. ...

Convenient or Dangerous?: The “One-Click Wonders” of Online Retail

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Oct 11, 2018
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Budgeting, Current Events, Behavioral Finance
Online retailers are finding shorter and simpler ways to reach shoppers’ hearts and wallets.  By reducing the number of steps required to place an order, Amazon, Domino’s, and others are hoping to boost their sales by making your life easier.  The ultimate consumer convenience, these new “one-click wonders,” could be dangerous to the financial health of those with weak impulse control.   One such “one-click wonder” is the Amazon Dash...

Question of the Day: What percent of Americans bought a lottery ticket in the past year?

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Oct 10, 2018
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Question of the Day, Financial Scams, Investing
Answer: 49% Questions: Do you have family or friends who buy lottery tickets? How often do they play? Have they ever won significant jackpots? Do you think buying lottery tickets is a wise financial decision? Why or why not?  Would it surprise you to know that more people buy lottery tickets than invest in the stock market? Why do you think that is? Remember that overall long-term stock market returns are 7-9% annually while lottery tickets have a negative expected value. Here's...