Reading List for August 23-25

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Aug 23, 2019
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Advocacy, Economics, Investing, Retirement, Insurance, Parent Conversations, Paying for College

A variety of topics for your weekend reading ....

 

Financial Literacy/Advocacy

  • As Kentucky enacted a law to make personal finance a graduation requirement for High School, three Universities, with support from banks, have taken on the task of providing training for the teachers. (NK Tribune)

 

Economics

  • The world’s central bankers and top economists are gathered for the annual symposium put on by the Kansas City Fed in Jackson Hole, Wyoming. Fed Chair Jerome Powell addressed the group at the opening session Friday morning discussing, what else, the economy and interest rates. (NYT)

 

Managing Credit

  • Is this a bad sign for the economy? Fewer Americans, especially women, are paying their credit card balances in full consistently. (PR Newswire)

"Monthly Credit Card Confidence Index reveals sharp drop in consumers' confidence about their finances, mirroring rising concerns about a possible recession"

 

Investment

  • Here is a good explanation of why your students (Gen Z) and Millennials shouldn’t worry about an inverted yield curve and possible recession. In fact, they might start rooting for one! (CNBC)
  • Retail isn’t dead yet. Target seems to have come up with a winning formula to not only survive but thrive. (CNBC)

 

Insurance/Bankruptcy

  • Sadly, these topics are connected. Specifically, it is a lack of adequate insurance that sends a large number of people to bankruptcy court following a trip to the ER, hence the title “follow-up appointment.” (WAPO)

 

Retirement

  • If you need a good example to encourage your students to save for retirement, this article deals with the reality of relying on Social Security alone to make ends meet. (Forbes)

Higher Ed/Paying for College

  • A huge (207,335) Texas study found that students who attended college but did not earn a degree -- including those who earned certificates -- were much more likely to be employed than were members of the cohort who did not go to college. And if they were employed, they tended to have higher earnings (see graphic in the Inside Higher Ed article). This is counters much of the previous research in the area, and the depth and breadth of the dataset may be the reason why. Apparently, getting a few credits is a positive signal.
  • In keeping with the back to school theme as we approach labor day, I offer this wish from a college professor. He wants parents to make sure their kids are equipped with three life skills before heading to college. (WAPO)
    • They should know how to respectfully address others (professors)
    • They should be able to manage their own time/schedules
    • They should be able to navigate using mass transit
  • Good news this week for disabled veterans with student loan debt (Inside Higher Ed)

Under the process outlined in the White House memorandum Wednesday, veterans will receive loan forgiveness automatically unless they decide to opt out -- a decision some might make because of issues like state tax liability. Congress in 2017 eliminated federal tax liability for veteran loan forgiveness. “ 

Parenting

  • Raising healthy kids surrounded with social media is tough. We know it isn’t good. But a new study reveals why social media may be having an impact on girls’ mental health. It may have more to do with what they are NOT doing by devoting so much time to it. (Forbes)
  • This may not be news to those of you teaching your students about debit and credit cards, but the article sums up the pros and cons of each, along with some suggestions for important financial lessons for their parents. (US News)
  • Pre-school is not too early to teach your kids some important lessons about money (and life). (Business Insider)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an M.B.A. in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducting student workshops, and developing finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.