About the Author

Tim Ranzetta

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.

Author: Tim Ranzetta

Interactive: How Long Do I Have To Wait For That Table?

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Feb 25, 2018
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Math, Budgeting, Interactive
What happens when you show up on Friday night at your favorite diner with a group of friends and realize you are #10 on the waiting list? You could walk out and go elsewhere but nobody has better grilled cheese and chocolate cheesecake OR you could treat it as a math problem and try and come up with an estimate of how long the wait is going to be. You count all the tables in the diner (15 or so) and figure that most meals here take about 45 minutes to complete (they like to turn their tables:)...

Question of the Day: What percent of 18 year old college students have more than $1,000 in credit card debt?

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Feb 25, 2018
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Question of the Day, Credit Cards, Research
Answer: See graph below for answer (From EverFi Money Matters On Campus Survey) Questions: Would you expect 18 year olds at four year colleges to have more credit card debt than those at two year schools? Explain.  Do you think young people with credit cards expect to go into debt? Explain. Do you have a credit card? Why or why not? If so, are you able to pay off the balance every month. Name one reason why you think having credit card debt is bad. Click here for...

NGPF Podcast: Tim Talks to Entrepreneur Kendall Flutey of Banqer

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Feb 23, 2018
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Podcasts, Checking Accounts, Interactive, New Products, Personal Finance
The NGPF podcast's first international guest, Kendall Flutey, is one hard-working entrepreneur—she set aside time on a Saturday (NZ Time) to talk to us! She saw a gap in financial literacy education in primary schools through her brother's eyes, and decided to change things for the better. Fueled by her passion for business, the former accountant signed up for coding bootcamp, and 6 months later she was equipped to bring the vision of her startup to life. Banqer was born in 2015, and...

What I'm Reading This Weekend (2/25-2/26)

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Feb 23, 2018
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Article, Student Loans, Investing
Savings/Interest Rates The Federal Reserve has raised interest rates five times in the past few years but "brick and mortar" banks haven't followed suit when it comes to savings accounts for depositors. The Economist explains the reasons why.  Podcast of the Week What is it like to be ultra-wealthy? Listen to this podcast and find out, What is it like to be rich (Hidden Brain)? Higher Ed – Student Loans Looks like colleges and universities are falling into two distinct...

Interactive: Let's Play the Tech IPO Investing Roller Coaster

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Feb 21, 2018
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Interactive, Investing, Stocks, Current Events, Research
Hat tip to Brian Page for pointing out this simulation and for coming up with great ideas of what to wrap around it. The IPO Roller Coaster let's students experience what it feels like to invest in popular Tech IPOs (initial public offerings). Since these IPOs are the first time the company's stock is trading on a public exchange, they experience pricing volatility as investors try and figure out the underlying"value" of these companies.  Brian suggests starting with this video from...

Question of the Day: What's the highest price paid for an Olympic Gold Medal at auction?

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Feb 21, 2018
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Current Events, Investing, Question of the Day
Answer: $1,466,574 (Jesse Owen's medal from the 1936 Games) Questions: How is the value of an item determined at an auction? Why do you think this specific medal went for such a high price?  Do you think this will be a good investment for the purchaser?   Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom Behind the numbers (from CNN in 2013): Jesse Owens' 1936 gold medal sold for $1,466,574 at auction...

Question of the Day: What is the scrap metal value of an Olympic Gold Medal?

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Feb 20, 2018
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Question of the Day, Investing
Answer: $577 Questions: The "gold" medal is about 92.5% silver. Why do you think Olympic organizers chose this mix of metals?  Do you think an Olympic Gold Medal is worth more than just the scrap metal value? Why? Will this scrap metal value change over time?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Sunday Express): Gold medals do vary in size - with London’s games being...

Happy Birthday, Dad! The Origins of the NGPF PAYBACK Challenge

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Feb 20, 2018
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Personal Finance
My dad would be 89 today. I reread my tribute to him on his birthday last year and realize I left out an incident that occurred almost 30 years ago. It provides some insights on why I believe students need to have frank and frequent conversations with their parents about the college finance question as in "Who's paying what and when?" I didn't communicate enough and you can probably guess the results.  As for what I left out...it was a colossal battle that erupted a day before I was to...

Chart of the Day: What's The Value of Higher Education?

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Feb 18, 2018
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Paying for College, Current Events, Chart of the Week
Three great charts from the Economist focused on the value of higher education and how it has changed over time. Article notes that "college graduate premium" does exist but that it has leveled off since 2000: The main piece of evidence cited by policymakers is the “graduate premium”—the difference between the average earnings of someone with a degree and someone with no more than a secondary-school education, after accounting for fees and the income forgone while studying....

NGPF Podcast: Tim Talks to Alan Gersten, Developer of Entrepreneurial Talent at Century High School (Santa Ana, CA)

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Feb 16, 2018
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Podcasts, Teaching Strategies, Entrepreneurship, Career
Alan has transferred his coaching abilities from the sport's fields to the classroom, and now he trains future business leaders and entrepreneurs at Century High School in Santa Ana, California. Thanks to a grant the school received, he was able to fund the Virtual Enterprise program which inspires students to compete in the real world with passion and a wealth of knowledge. Students not only experience first-hand all of the trials and tribulations of starting a company, but compete with other...

Question: How much does the retail price for roses increase around Valentine's Day?

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Feb 14, 2018
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Budgeting, Generosity, Behavioral Finance
Answer: About 100% Questions: What economic concept helps to explains this surge in pricing? What other examples of items/services can you think of that have prices that change based on demand? What challenges do you think rose growers encounter around Valentine's Day?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Reuters): At Reuters’ request, BloomNation examined the prices of...

Question of the Day: Until what age can a child stay on their parents' health insurance?

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Feb 13, 2018
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Insurance, Personal Finance, Question of the Day, Current Events
Answer: 26 years old. Questions: There’s a misconception that young people don’t have to get insurance because they’re generally healthy and don’t need it. What’s one argument against this? Do you think there is a cost to being on a parent's health insurance plan? If so, do you think a child's insurance is more/less expensive than their parent's health insurance?  Do you think this is a good policy to allow students to stay on their parent's health insurance...

Question of the Day: What percent of minors (under 18 years of age) have had their identity stolen?

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Feb 12, 2018
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Question of the Day, Identity Theft, Credit Reports, Credit Scores, Credit Cards, Article
Answer: 10% Questions: Why do you think that this happens (ID theft) so frequently to minors?  What would you do if you found out that someone was using your Social Security number to open accounts?  How can you check to make sure this hasn't happened to you?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Buzzfeed, great article that your students will enjoy since it describes...

Question of the Day: What percent of Americans do not receive a steady paycheck?

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Feb 11, 2018
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Career, Employment, Question of the Day
Answer: 50% Questions: What are ways that workers can "smooth over" those periods where they are earning a smaller paycheck?  If this is the "new normal" for employment, how should you think about your largest fixed monthly expenses (rent, car payment, etc.)? What are some "side hustles" that people do to supplement their incomes?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from...

The Best Investment Ever

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Feb 11, 2018
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Personal Finance
What if you told your school administrator that a one semester course could increase the average student's lifetime wealth by over $100,000? Wouldn't the next words out of their mouth be "What are we waiting for?" Unfortunately, we're still waiting. The facts are: Only 1 in 6 students graduate from high schools that require a personal finance course (1 in 12 in low income districts) Only five states (UT, MO, VA, TN and AL) currently require ALL students to complete a personal finance course (WI...