Apr 17, 2018
Financial Scams, Activities, Article, Activity, Behavioral Finance
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...
Apr 12, 2018
Activities, Financial Scams, Policy, Activity
If they won't regulate, we better educate.
Listening to Planet Money podcast (20 minutes) last week about an online lender, Golden Valley Loan, Inc. It was being sued by CFPB for "unfair, deceptive and abusive business practices." Under new CFPB leadership, the lawsuit has been dropped.
So, I went to Golden Valley's website to read the fine print of their short-term, high interest loans to see if I could find the "gotchas."
What a beautiful website...
Here's how they...
Apr 04, 2018
Insurance, Activities, Activity, Budgeting
While on the subject of insurance, thank you to Brian Page for sharing his two-part activity to teach students about renters insurance. Once students choose their policy option they get one of those unwelcome surprises where they get to immediately apply what they have learned.
Here are links to Part I and Part II of the activity.
Renters Insurance has never seemed so exciting, so just remember, stay calm...
Handout: Renters Insurance
Part I (20 minutes):...
Mar 23, 2018
Personal Finance, Activities, Investing, Interactive, Credit Scores, Budgeting, Behavioral Finance
The two weekend tilts are upon us! Who will join the 6 other Sweet Sixteen winners from the week? Time (and YOUR social media influence) will tell. Let ‘em hear your voice in the rafters, baby!
Vote in Today’s Tilts:
#4 Joining the Market vs. #13 FICO Score Simulator
#5 Spent vs. #12 Think You Can Beat The Stock Market?
FINAL Update on Sunday, March 25 at 7AM
In a major upset, #13 FiCO Score advances to the Elite 8 with a 27-11 trouncing of Joining the Market. Pundits wonder...
Mar 21, 2018
Personal Finance, Stocks, Paying for College, Current Events, Career, Activity, Activities, Interactive, Employment
FINAL RESULTS Midnight Thursday
Uber Driver advances to the next round with a convincing win scoring 62 vs. Five Stocks 43
Earnings by Major upsets Online Tools and Apps by a score of 56-48
Update 12 noon Thursday
Uber Driver continues to maintain its lead over Five Stocks at 59-41 (actual vote totals)
Earnings by Major has expanded its lead to vs. Online Tools and Apps with the score of 54-46 (actual vote totals). Where's the social media support for Online Tools and Apps?...
Feb 06, 2018
Activities, Behavioral Finance, Current Events
No that's not a typo. Hat tip to NGPF podcast guest, Jonathan Clements (he's got a great newsletter too!) for pointing me to this website, Stickk. Stickk is a goal setting platform created by a bunch of behavioral economists at Yale. Their platform relies on the power of the nudge (it won Richard Thaler a Nobel prize!) and public commitments to turn goals into reality. Here's their 4-step process:
Here's a few of the goals that I saw listed this evening (2/4/18) on the site:
Jan 16, 2018
Behavioral Finance, Activities, Investing, Index Funds, Interactive
Ever since I found a stock market simulation posted on Quartz, I wanted to see what the results would be after each student in a class played 3-4 rounds of the game. Could they collectively beat the market? I blogged about it in August 2015 and the curriculum team developed a more robust activity using this simulation. A week ago, I got that chance to answer the question.
First a little background to get you up to speed. Here's a quick synopsis of the investing game:
This simulation uses prices...
Jan 09, 2018
Interactive, Budgeting, Tips for Teachers, Activities, Teaching Strategies
Thanks to Brian Page, educator extraordinaire from Reading High School (Ohio), for sharing his recent experiences with a poverty simulation.
Kids learn best when they’re up, moving, and doing. It’s not everyday we can create an environment to replicate the real world topic at hand, but the moments we do allow us to connect those experiences to the personal finance topics we teach. A matter of fact, one of the most effective teaching methodologies is the...
Dec 22, 2017
Podcasts, Index Funds, Activities, Stocks, Investing
To say Brett Shifrin is overscheduled is quite an understatement. Looking at his teacher profile at Gould Academy, one is left wondering how he gets it all done: Certified Financial Education (he built the course from scratch), Road Cycling Coach, Director of Ninth Grade Program, Advising Team Leader...and my favorite, Prep Snowboarding Coach (yes, Gould Academy is only minutes from the mountains) Brett is a math educator and an award winning one at that. He was selected...
Dec 13, 2017
Index Funds, WebQuest, Article, Activities, Retirement, Investing
Ok, I know that retirement is a long way off for your students, which makes it difficult to engage them on the topic. What if the focus instead was on the actions that you students can take in their 20s to set themselves up well for that period far off into the future?
Here's a Washington Post article that lists five actions that 20-somethings can take to get a jumpstart on their "nest egg." Well, it turns out we have an NGPF resource recommendation for each of their tips. Thanks to...
Nov 21, 2017
Generosity, Activities, Teaching Strategies, Budgeting, Parent Conversations
Thanks to NGPF Fellow Kerri Herrild of De Pere High School (De Pere, Wisconsin) for taking a chance on this new project and sharing it with the broader community:
I am excited to share a powerful project that my Personal Finance students recently completed. Students were introduced to the concepts of charitable donations using the NGPF unit on philanthropy. They were then assigned The Giving Project in which they were to research a charity that was meaningful to them and create...
Nov 16, 2017
Teaching Strategies, Featured NGPF Lesson, Activities, Lesson Idea
The following post is courtesy of Lois Stoll, Benjamin Logan High School (Bellfontaine, OH). In this post, she discussed how she incorporated manipulatives into the ANALYZE: Categorizing Credit lesson!
Directions for adding manipulatives to the ANALYZE: Categorizing Credit lesson.
To make this lesson more interactive, print labels and make cards for each group of students. The Yellow cards represent the different categories of credit:
I = Installment
S = Secured
V = Variable
R = Revolving
Oct 27, 2017
Paying for College, Interactive, Activities, Research, Student Loans
Stumbled upon this survey from Thrivent Financial "State of Student Debt In America," highlighting the lack of communication between students and their parents when it comes to college:
Opening the lines of communication is key to reducing stress and ensuring students really are prepared for the realities of college costs. And students desire that dialogue to happen regularly. The survey found the majority of students (70 percent) wish their families spoke with them about college costs more...
Oct 20, 2017
Interactive, Activities, Activity
ENGAGE YOUR STUDENTS: TRY OUR NEW INTERACTIVE ACTIVITY WORKSHEETS!
Sometimes students need to experience content on their own to be truly interested and invested in the content you have covered in class! Using interactive charts, graphs, quizzes, and games helps students become active learners and provides opportunities for them to hone their analytical skills. NGPF has just...
Oct 13, 2017
Paying for College, Savings, Student Loans, Activities
The first quality about this simulation that stands out is how it gives the user the opportunity to blend their real life choices and starting position, with hypotheticals, to know exactly how much future decisions will cost. I saw what my potential earnings would look like with the major I’ve applied for and saw how my GPA and school really affect how much debt I’ll need to withdraw.
I played this game 4 times to see how different choices led to different outcomes. ...