Searching for: "bankrate"

Reading List for November 19-21

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Nov 19, 2021
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Current Events, Investing, Economics, Student Loans
Investing If you are looking for a longer read, this Mother Jones article looks at the crypto craze and the question of whether or not it is rational to jump into this market. The Federal Reserve Bank of San Francisco takes a look at a proposal to issue a 50-year Treasury Bond. (FRBSF.org)   Economics Read the latest on numbers of quits and job openings and wage growth. (Reuters) Existing home sales reached an eight-month high in September. (Reuters) Job growth over the summer was...

Question of the Day: What percent of Gen Z consumers have added to their credit card debt since March of 2020?

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Oct 25, 2021
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Question of the Day, Credit Cards
Answer: 52%  Bankrate Covid Debt PollInfogram Questions: Generally, why would people increase use of their credit cards during a pandemic?  What difference do you see among the generations listed above when it comes to their credit card debt?  What advice would you give if a friend asked what steps they could take to avoid taking on credit card debt? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers...

Reading List for June 18-20

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Jun 18, 2021
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Economics, Investing, Cryptocurrencies, Budgeting, Student Loans, Retirement
Economics New jobless claims reversed the streak of declines this week, and continuing claims remained the same. (Yahoo Finance) The Washington Post dug deep into BLS and other data to see which industries were experiencing a labor shortage, versus the tight labor market that is more generally the experience across the board. (Slate) provides a more detailed and nuanced examination of the current inflation picture. The Federal Reserve Banks’ Open Market Committee met this week and...

Question of the Day [Updated]: What's the new interest rate on federal student loans for the 2021-22 school year?

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Jun 02, 2021
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Question of the Day, Student Loans
Answer: 3.73% (vs. 2.75% for 2020-21 school year) Questions: How do you think this interest rate compares to the interest charged on credit card debt?  Average student debt is around $30,000 for college graduates. At current interest rates, roughly how much in interest would be paid over the life of a 10-year student loan? Here's a loan calculator to help with the math.  Click here for the ready-to-go slides for this Question of the Day that you can use with your...

Question of the Day: What percent of investors think the stock market is "rigged" for individual investors?

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Mar 29, 2021
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Question of the Day, Investing
Hat tip to Todd Mora for suggesting this question.  Answer: 56% Questions:  Why do you think that a higher percent of investors think the stock market is rigged when compared to non-investors?  Do you think the stock market is rigged? Explain.  Are you surprised to learn that on average over the last 10, 30 or 50 year periods the stock market's average annual return is 11-13%?  Here's the ready-to-go slides for this Question of the Day that you can use in your...

EconExtra: Freedman's Bank and the History of Black-owned Banks in the US

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Feb 20, 2021
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Economics
EconExtra is a series of posts that go beyond the textbook, relating current events and recent developments in economics to content standards, and providing resource suggestions to help you incorporate the current events into your lessons. The Headlines Investopedia published a comprehensive review of all of the Black-owned banks by state earlier this month. In fact, there are only 41 in the country, including credit unions.During Black History Month, the following headlines warranted further...

Question of the Day: How many Americans could not pay a surprise $1,000 bill using their savings account?

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Jan 27, 2021
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Question of the Day, Savings
Answer: 38% (Charging a credit card and pay over time, borrowing from a friend/family member, or taking out a personal loan) Questions: Are you surprised by this number? Why or why not? What are some surprise expenses that could amount to $1000? What are some surprise expenses that cost more than $1000?  Between charging a credit card, borrowing from a friend, or taking a personal loan, what option is most costly? Why? Click here for the ready-to-go slides for...

Podcasts In The Classroom: How Do You Think About Saving?

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Jan 11, 2021
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Podcasts, Savings, Podcasts In The Classroom
After more than 400 teachers expressed interest in bringing podcasts into the classroom, we decided to build out a ready-to-use activity to fulfill that desire. This week's activity (you will be asked to Make a Copy when you click on the link) revolves around the topic of Saving and has incorporated 2-3 minute audio excerpts from the NGPF Podcast. Students will have the option to listen to Adam Carroll (Author and Producer of Broke, Busted, & Disgusted), JL Collins (Author of The Simple...

Question of the Day: $750 Playstation 5 Bundle on credit...If you make the minimum payments, how long before this credit card bill is paid off?

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Dec 14, 2020
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Question of the Day, Credit Cards
Answer: 5 Years and 9 Months   Questions: Considering the cost of this Playstation 5 Bundle, do you think this is a good idea? Explain your answer. What big-ticket items or once-in-a-lifetime experiences do you think are worth spending money on? How could you reduce the amount of time required to pay off this credit card bill? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.   Behind the numbers (from...

My 9 Favorite Games & Interactives to Teach Credit

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Nov 18, 2020
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Interactive, Credit Cards, Credit Scores
Here is my current ranked list of my favorite credit interactives that could be used in NGPF's Managing Credit or Types of Credit Units.  1) Shady Sam: Loan Shark In this popular game, students sit across the desk from unsuspecting borrowers and try to extract as much profit from them - via interest and loan terms - as possible. Try our existing companion handout to this engaging and easy to play credit game Shady Sam. 2) INTERACTIVE: FICO Credit Scores Try our existing virtual...

Question of the Day (Updated): What is the average fee when you overdraw your checking account using your debit card?

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Nov 02, 2020
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Question of the Day, Checking Accounts
 Answer: $33.47 Questions: What do you think are the reasons that people spend more money than what they have in their checking accounts?  What has been the trend with overdraft fees since 1998? Why do you think banks are charging more for fees (on average)?  What are the ways that you can prevent your account from being overdrawn (spending more than you have in your account)?  Click here for the ready-to-go slides for this Question of the Day that you...

What's New With Checking -- 2020

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Aug 13, 2020
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Checking Accounts
Why open a checking account, and how to find one for you? Operating in cash during a pandemic became difficult pretty quickly. Although anecdotes suggest people were hoarding cash initially, it has been increasingly difficult to use, as lack of circulating currency means stores are often short of coins. During the pandemic, half of Americans surveyed said they use contactless payments.   Furthermore, stimulus checks and other government benefits come much faster if they are directly...

Reading List for July 10-12

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Jul 10, 2020
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Current Events, Employment, Investing, Taxes
Income and Budgeting (pandemic-related) A survey by Bankrate conducted in late June yielded some dire if not unexpected statistics about the impact of the pandemic on incomes. 49% of those polled said the pandemic has negatively impacted their income. Of those negatively impacted, only 17% were back to normal at the time of the survey, and 59% feel it will take longer than three months to recover. 45% were not impacted. This WSJ (subscription) article has lots of great statistics/graphs...

Reading List for May 29-31

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May 29, 2020
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Current Events, Personal Finance, Budgeting, Investing
Pandemic Round Up Weekly unemployment claims totaled 2.1 million last week, bringing total claims to over 40 million. (CNBC) Summer jobs for teens are hard to find this year. (WSJ) (For reference, here is what the job market looked like for teens last summer: unemployment stood at a 50-year low. WSJ) Amazon is looking to make 125,000 of the jobs it added to deal with the pandemic permanent hires. (TechCrunch) USA Today sums up the permanent changes in our economy as we learn to live with this...

Reading List for May 1-3

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May 01, 2020
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Current Events, Economics, Investing
Economics First quarter GDP tumbled 4.8%, the biggest drop since 2008. How bad will the second quarter be? (Marketwatch) WAPO’s Michele Singletary explains what you may need to do if you haven’t received your stimulus check yet.   Federal Reserve Bankrate.com recaps the readout from this week’s Federal Open Market Committee meeting. If you want to watch Chairman Powell’s news conference, here is a link: (CNBC)   Unemployment The unemployment picture...

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