Category: Article

Financially Underserved Communities Deserve Better: Here's Why

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Oct 20, 2017
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Article, Personal Finance, Financial Literacy, Current Events, Advocacy, Webinar
Just as food deserts unfortunately exist in abundance, so do bank deserts. The reality today is that so many Americans who live and work in financially underserved communities don’t have the time to go to the bank outside of their community because of their irregular work schedule. This issue cannot be ignored, as FDIC research has recently found that 67 million adults are unbanked, and this disadvantaged population has spent $141 billion in fees and interest rates in non-bank alternatives...

Financial Education Explained by Danielle: My First Job

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Oct 19, 2017
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Article, Employment, Career
Following my junior year in high school, I was looking to add to my extracurriculars since I knew my summer vacation would mainly involve going out with friends, spending time with family, and honing in on my tennis skills. As my parents didn’t want me working during the school year—they saw it as a distraction from my studies—I took it upon myself to apply to jobs to get some "real-world" experience. Personally, I believe that every young person should get a job while...

Question: How much free financial aid is lost to families who do not file the FAFSA?

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Oct 18, 2017
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Paying for College, Student Loans, Article, Question of the Day
Answer: $2.3 billion The confluence of FAFSA season upon us (you could file beginning on October 1st) and our team working on an upcoming Question of the Day release is what led to the question that is the subject of this post.  From Quartz:  The US government awards federal, state, and institutional money every year to students who fill out the Free Application for Federal Student Aid (FAFSA) and meet certain household-income qualifications. But if students don’t...

Common Cents: Avoid Withdrawing Money From Out-of-Network ATMs

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Oct 13, 2017
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Article, Personal Finance, Current Events, Checking Accounts, Debit Cards
The creation of the ATM saved quite a lot time for bank customers, as they no longer had to wait in line at bank branches to withdraw their money. Could escalating out-of-network ATM fees lead to the decline of withdrawing cash in the near future? I predict that the recent trend of peer-to-peer payment could lead to the eventual—and most unfortunate—downfall of ATMs starting in large metropolitan areas. In these markets, more and more people are opting out of using cash and instead...

Financial Education Explained by Danielle: How I Finished College in 3 Years

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Oct 11, 2017
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Paying for College, Article
The National Center for Education Statistics said in a recent study that it takes undergraduate students an average of 6 years to earn their Bachelor’s degree. That’s an extra 2 years worth of tuition and university related costs that could have been saved. In all fairness, some majors like biochemistry are difficult, and it takes more time to complete them. Additionally, everyone’s college experience is different, and sometimes students take a year or two off to save money,...

How To Manage Your Spending Habits

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Oct 10, 2017
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Article, Generosity, Budgeting, Personal Finance
One of our NGPF team members recently discovered this New York Times article about different saving habits that people have developed over the years. NGPF is a big proponent of matters regarding personal finance, and so we thought we’d share this article, which is full of very helpful saving advice, with you. Financial education starts in the home, and it begins with developing good spending and savings habits. One of the best—and in my opinion, most mindful—saving habits from...

Financial Education Explained by Danielle: My Student Loan Story

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Oct 05, 2017
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Article, Current Events, Student Loans, Paying for College
My parents, both alumni of Loyola Marymount University, graduated in the late 1980’s. This was a few years shy of when FAFSA was officially created. As the eldest child in my family, I was designated as their “guinea pig experiment” when it came to applying for financial aid and navigating the student loan process. As tuition for higher education has risen over 400% since the 1980’s, and I could sense my parents’ hesitation when they told me to reach for the stars...

Student Debt: A Detriment to Homeownership?

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Oct 04, 2017
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Article, Personal Finance, Investing
Imagine not being able to afford a house of your own because the financial burden of student loans prevents you from saving for a down payment. This is the unfortunate reality is that many students face since the income they earn after they graduate college isn’t sufficient from to both pay down their student loans and start saving for a house. An article from MarketWatch highlights how student debt has impacted the quality of life for many Millennials, and infers how homeownership is just...

What's the Latest in Financial Education Research?

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Oct 03, 2017
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Article, Personal Finance, Credit Cards, Financial Literacy, Policy
We like to bring you the most current information relating to financial education. From elementary school to college and beyond, financial education is not only a necessity, but a fundamental topic that educates students and teachers alike on how they can financially prepare for their future. Here are six recent academic journal papers from George Washington University’s online Global Financial Literacy Excellence Center that you might find helpful in thinking about your instruction: ...

Saving vs. Investing: Where Should You Put Your Money?

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Sep 29, 2017
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Article, Budgeting, Stocks, Personal Finance, Investing
Warren Buffett, perhaps one of the most well-known investors (and philanthropists) of our time, once said, “Do not save what is left after spending, but spend what is left after saving” (EOC POTPOURRI: Financial Literacy Edition). These days it’s all too easy to follow the mantra “treat yo self” and spend your hard earned money on things you don’t necessarily need the minute you get that direct deposit notification. So how much should you save every time you...

Financial Education Explained by Danielle: My Credit Card Experience

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Sep 27, 2017
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Article, Personal Finance, Credit Cards, Credit Scores
This is my debut article for my new weekly column, Financial Education Explained by Danielle. This weekly column will feature my personal finance triumphs and tribulations, and hopefully students will be able to learn something new that they'll be able to incorporate into their lives for the better!  ... I wish my parents would have sat me down when I was in high school and explained what credit cards entailed instead of telling me “not to worry about it” until I got older. By...

The Real Cost of Food Delivery

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Sep 26, 2017
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Article, Budgeting, Personal Finance, Purchase Decisions
Not all heroes wear capes...some don casual clothing, drive their cars to pick up food from the restaurant of your choice, and deliver it to your door at a minimal fee. Gone are the days of food delivery being limited to just Chinese food and pizza. With apps such as GrubHub, Caviar, and Postmates, many restaurant goers have the ability to simply kick back at home after a long day at work and have food delivered to their doorstep. But the big question at hand still remains: is the convenience of...

Millennials and the Future of Sustainable Investing

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Sep 21, 2017
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Article, Generosity, Personal Finance
Generation Y, a.k.a. Millennials, are the largest generation on the planet right now since the Baby Boomers. Their spending and investment habits are becoming more predictable with most arrows pointing to an increase in sustainable investing.   Recently, a Visual Capitalist article published a study that found that investments in social change issues have risen by 33% in the last two years--mainly thanks to Millennials. Perhaps this escalation in sustainable investing can be attributed to a...

Question: What's Your Tolerance for Risk?

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Sep 21, 2017
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Investing, Stocks, Index Funds, Article, Question of the Day
One of the most fundamental questions when creating an investment plan is assessing how one feels about risk, or to put it more specifically, how does one feel about losing money. If you feel the need to check your investment portfolio every hour or so fearing an incipient crash, well you might not do well with a 100% stock portfolio. Similarly if you are a buy and hold (and forget) type, and you understand the value of long-term investing and bought more stock in 2008 when the stock market...

Is it Worth Carrying Cash Around Nowadays?

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Sep 19, 2017
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Article, Budgeting
The convenience of person-to-person money transfers has made them quite popular among young Americans across the country. Mobile apps such as Venmo, Paypal, and Square Cash allow users to input their debit or credit card information, and send money directly from their banking account to someone else’s in a matter of seconds! For instance, if a group of college students go out and one forgets their wallet at home--but not their phone--they’d be able to pay back their friend who...

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