May 20, 2018
Identity Theft, Question of the Day, Current Events, Research, Audio Resource
Answer: Phone Call
Have you ever been contacted by a scammer via your cell phone? How did you go about approaching the situation?
While scammers connect most with people over the phone, how successful are they at stealing people’s money via this method?
What’s one piece of advice you would give to your fellow classmate/colleague who’s trying to avoid falling prey to a scam call?
Click here for the ready-to-go slides for this Question of the...
May 17, 2018
Identity Theft, Audio Resource, Current Events
Hat tip to rock star educator Brian Page for shooting me an email with the subject line HILARIOUS! and suggesting a great hook for an ID theft lesson.
Here's the set-up for this call-in radio show:
Today Jubal poses as a customer rep from a clothing company and he’s here to tell a girl that a BIG sale is about to happen!! And what’s even better…is she is allowed to be the very FIRST customer…BUT Jubal needs some of her PRIVATE financial information...
Jan 21, 2018
Current Events, Article, Audio Resource, Ethics, Policy, Teaching Strategies
Make a profit OR serve other constituencies, like customers, employees and communities. The "maximize shareholder value" mantra (a.k.a. the stock price is all that matters) for public companies has been in vogue for the past several decades. However, if pronouncements from a top investor is any indication, there may be a shift afoot. Business teachers might enjoy taking this current event into the classroom and using it to spur a debate.
Larry Fink, CEO of BlackRock, an asset manager with over...
Dec 20, 2017
Schools In News, Audio Resource, Activity, Current Events, Featured Teachers, Financial Literacy, Professional Development, This Week In Financial Literacy
Grading U.S. states on teaching financial literacy: Some earn A’s, while others flunk (The Washington Post)
The third report card of the Center for Financial Literacy at Champlain College highlights the mixed record around the country — including in the D.C. region, where the District earned an F, while Virginia aced it and Maryland received a B. (See all grades below.) The grades are only a slight improvement from those given in 2015, when 24 percent of states and the...
Jul 31, 2017
Credit Scores, Article, Audio Resource, Activity, Activities
These two resources (audio and an article) caught my attention over the past week as they provide different perspectives on credit scores. The 3 minute audio from Marketplace (below) describes the history of credit scores in the U.S. and how they have evolved over time while the NY Times provides a plain English Q&A on the topic.
Audio from Marketplace (3:28):
A credit score is the calculated probability of how likely you are to pay debts. But it affects where you live, what car you can buy...
Jun 15, 2017
Employment, Research, Current Events, Audio Resource, Article
Answer: According to Marketplace, prospects are GOOD!
The U.S. unemployment rate stands at 4.3 percent, and the tight labor market is giving a bump to young people’s job prospects for the summer. Unemployment among 16- to 19-year-olds fell to 14.3 percent in May — its second-lowest reading since 2006 (it dipped to 13.7 percent in March). Teen unemployment hit a previous low of 12.3 percent in June 2000.
But even as the job situation improves, fewer young people are...
Jun 02, 2017
Audio Resource, Behavioral Finance, Index Funds, Investing, Current Events, Podcasts, Entrepreneurship
Lots of drive time this week, which means lots of good podcast listening. Here are four that I thought you would enjoy:
For those looking for entrepreneurial focused podcasts, my new FAVE is Masters of Scale with Reid Hoffman (VC at Greylock and founder of LinkedIn). Here are the two that I have listened to with their key points that stuck:
Mark Zuckerberg (Facebook): Learn about the importance of launching “imperfect products” and then listening intently to your customers to...
Jun 01, 2017
Audio Resource, Career, Question of the Day, Research, Current Events
From Marketplace.org (1:32 audio):
Here are the top 10 results from the survey conducted in 2016 with 150,000 high school students:
Four of the 10 most popular career options cited by survey respondents were in the health care field, an area that is expected to grow in the coming years as the U.S. population grows older. Other science and engineering fields drew interest from 18 percent of respondents, with mechanical engineer rounding out the top 10 fields garnering the most student interest....
May 26, 2017
Behavioral Finance, Research, Current Events, Audio Resource, Parent Conversations, Podcasts
I thought you would enjoy this Meg Faber podcast while you were on one of those long summer drives with your family. It could lead to some great conversation too! Lots of thought-provoking wisdom from Elizabeth Dunn, co-author of the 2014 best-seller Happy Money: The Science of Happier Spending. In the podcast, she discusses new research into behavioral finance that she summarizes into five core principles that may make you think differently about how money can “buy” happiness:...
May 05, 2017
Podcasts, Teaching Strategies, Taxes, Audio Resource, Featured Teachers
Thanks to Nick Simmons for his recent appearance on the NGPF Podcast. I learned about Nick’s work at the Hopkins Academy in Hadley, Massachusetts from a recent feature in the local paper describing his passion for personal finance. In this podcast, Nick shares his methods for teaching challenging topics like taxes and investing and how he uses technology in creative ways. You will also learn how his advocacy work made personal finance education a requirement at his high school. Enjoy!...
May 01, 2017
Behavioral Finance, Question of the Day, Research, Teaching Strategies, Purchase Decisions, Video Resource, Audio Resource, Podcasts
Just done listening to this 28 minute Hidden Brain podcast “Money Talks” which asks such provocative questions such as:
Would you buy clothing from a department store if you knew the apparel was made in a sweatshop?
If you have a choice between a local coffee shop and a national chain, which would you choose?
Does how a company treats its employees (e.g, Uber) or customers (e.g., United) factor into your purchasing decision?
I also learned a new term listening to this...
Mar 29, 2017
Activity, Research, Credit Cards, Current Events, Audio Resource
From WSJ (subscription):
More than 80% of people who ask their card company for relief from their annual fees receive it, according to a new survey. Most get the fee waived entirely, while a smaller portion receive a fee reduction, according to a CreditCards.com report released Monday that surveyed around 950 card users.
Why are card companies so flexible? Well, it’s a competitive marketplace out there:
Intense competition between credit-card issuers is the main reason for this...
Mar 28, 2017
Behavioral Finance, Research, Purchase Decisions, Current Events, Video Resource, Audio Resource
Thanks for my friend Dan Mennel for pointing this podcast out to me: Hidden Brain: Tunnel Vision (Episode 65, 36:34)
What I like about this podcast:
The first fifteen minutes of the podcast deal with the issue of money scarcity and describe how our brains are wired to handle it and how our responses often meet short-term needs at the expense of our long-term goals.
From Hidden Brain website: When you’re hungry, it can be hard to think of anything other than food. When you’re...
Mar 05, 2017
Audio Resource, Policy, Index Funds, Investing
Oops. Meant to get this out on Friday. Here’s what I have been listening to the past week (or hope to listen to soon):
Bill McNabb, CEO of Vanguard Group (Masters in Business with Barry Ritholtz; over one hour). Vanguard recently crossed $4 trillion in assets under management. McNabb describes why index funds are increasing their market share, how Vanguard’s robo-advising business is growing, and the importance of fees when it comes to investing over the long-term. For those...
Feb 26, 2017
Behavioral Finance, Research, Investing, Current Events, Audio Resource
I had a few long car rides today and wanted to share a few Hidden Brain podcast episodes that you might find useful:
Misbehaving (24 minutes): Interview with behavioral economist Richard Thaler of “Nudge” fame. Discusses how traditional economics misses the boat when it comes to the foibles of human behavior (e.g., lack of self-control). Discusses research findings that explain why cabs aren’t available on a rainy day, why we use money differently depending on its source,...