Activity idea: Teaching Students to Be Savvy
Consumer Reports published their Naughty and Nice List for 2014. It called out companies who had run-ins with regulators due to practices that can be best be described as anti-consumer: Here’s a sample:
Hearthware markets the popular NuWave infrared oven, sold primarily by infomercial (but also at stores such as Walmart and Bed Bath & Beyond). The company has an F rating from the Better Business Bureau for misleading consumers regarding exorbitant shipping fees. We checked out the site and discovered that shipping fees can exceed some of the accessories themselves.
Activity idea: Have students conduct online research of one of the companies that appear on the Naughty List and document/provide evidence of the practice being cited OR have students do research on their own to identify their own “naughty” companies. Hint: Doing a Google search on “consumer fraud” is a good starting place.
Check out the NGPF Lesson on Scams, Frauds and Identity Theft
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.