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.
Where's my Question of they Day? and what to expect from the NGPF blog this summer
Summer is for PD for educators and for the team at NGPF. Be sure to check out our NEW! Virtual PD and Virtual FinCamp offerings. Whether you're new to NGPF or want to go deeper on a specific content area, these professional development offerings will hit the mark. Remember that all PDs attended also earn you credits in the NGPF Academy.
Look for Questions of the Day and FinCap Fridays to resume in early August. For those of you planning your class for next school year, we already have a...
NGPF Podcast: How Iowa Student Loan Team Members Marc Hendel, Julie Cahalan and Gary Adams Served Their Local Community
Marc, Julie and Gary share their experiences running four personal finance workshops at Harding Middle School in Des Moines. "The sooner the better" is a great answer to the question, "what is the right age for students to receive financial education?" Listen to the highlights of their work in the classroom as well as their observations about what middle school students are most interested in when it comes to money. Enjoy!
Details:
0:00~1:54 Introduction
1:54~5:02 What Mark, Gary, and Julie do...
FinCap Friday: Summer Jobs
In this FinCap Friday, we go over trends regarding teens working summer jobs. In the past, the summer has been seen as an opportunity to stack up some cash, but trends are showing that the summer is starting to be viewed in a different light! Play this FinCap Friday to find out what some of these new trends in summer teen employment are.
If you're short on time, try our FinCap Friday (No Tech) here! Questions are embedded directly into the slide deck.
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Final QoD for 2018-19: What was the #1 answer in a survey given to 1,000 adult respondents who were asked to complete this phrase "If I had a million dollars, I would ______.”
Well we did it! Over 150 questions later, we come to the culminating question of the 2018-19 school year. Want to warm my heart? Take a moment and ping me your favorite QoD from this year (send to tim@ngpf.org). I'm always interested in hearing which ones caught your students' attention. We'll get that QoD pipeline revving again in early August. Until then, have a relaxing and joyful summer and hope to see you at one of our FinCamp + or Virtual PD offerings!
Answer (based on survey of...
QoD: Which one of the following headlines DID NOT appear in the past month?
Choices:
Teens help Snap's stock to surge
High school English teacher paid thousands to Citibank for credit card protection he never wanted
High school senior earns millions trading bitcoin; will donate money to build stock trading floor at high school
Teen bakes thousands of cupcakes to take his family to Disney World
Answer:
High school senior earns millions trading bitcoin; will use proceeds to build new science building at high school
While...
Chart of the Week: Spending Patterns By Education Level
Great series of charts from our friends at Visual Capitalist (hat tip to Brian Page for also tweeting this out) that analyzes spending by an individual's education level. Two charts are provided below: one for high school graduates, the other for college graduates.
High School graduate:
Explaining the chart: The chart is split into thirds:
Left side: Shows sources of income: salary, Social Security (some of these HS grads are seniors collecting Social Security, dividends...
Virtual PD Coming This Week...Earn NGPF Academy Credits Too!
We have a full slate of Virtual PD workshops to get your summer off to a great start (and you will earn NGPF Academy credits too!)
Register for any and all of these events here!
Monday
VPD NGPF Academy Office Hours: Beginner by Abby (2pm PT)
VPD NGPF Academy Office Hours: Advanced by Sonia (4pm PT)
Tuesday
VPD Arcade Series: STAX! by Tim (4pm PT)
Wednesday
VPD Teaching Through: The Fine Print by Yanely (3pm PT)
Thursday
VPD Arcade Series: Spent by Tim (2pm PT)
Friday
VPD My Fav...
QoD: Rank order from highest to lowest: percentage of people who....a) have an emergency fund, b) struggle to pay bills, c) live paycheck to paycheck.
Answer (from Schwab Modern Wealth Report):
Live paycheck to paycheck: 59%
Struggle to pay bills: 44%
Have an emergency fund: 38%
Questions:
Why do you think so many Americans live paycheck to paycheck? How much of it is an income problem compared to a spending problem?
If someone came to you and said "I want to stop living paycheck to paycheck," what questions would you ask them to try and understand their situation?
Why do you think it's so important to have an emergency...
Question of the Day: When choosing from a list of 401(k) investment options, which tend to be chosen most frequently: those investments starting with the letter C, letter M or the letter Z?
Answer: The letter C
Questions:
Why do you think that investments with the letter C might be selected more frequently than the investments starting with the other letters?
What does your answer to the previous question say about human nature when it comes to challenging decisions with lots of options?
How can you overcome this alphabeticity bias?
Think of a decision that you recently made that had lots of choices (meals, career choices, colleges, classes to take). Describe...
NGPF Podcast: Doug Lynam Describes His Transition from Monk to Money Manager
Monk, personal finance educator, Marine and financial advisor. That's just part of Doug Lynam's CV which makes for a fascinating podcast. Doug shares how each of these experiences has shaped him and ultimately led to his current role as money manager. You will also learn about the motivation and key insights from his current book, From Monk to Money Manager. Enjoy!
0:00~1:12 Introduction
1:12~6:46 Early experiences with money
6:46~9:27 First job and lessons learned
9:27~15:14...
FinCap Friday: Rent Your Drobe
In this FinCap Friday, we take a look at a trend that is increasing year after year in the world of fashion. Many are even going as far as calling it the "future of fashion!" From individual people renting their clothing to entire companies building businesses on the idea of re-useable fashion wear, renting your clothes rather than buying them is becoming more and more popular. Want to find out why? Play this week's FinCap Friday below:
If you're short on time, try our No-Tech version of FinCap...
NGPF Extra Mile Award for 2018-19: Webinars
NGPF Webinars are a great way for teachers to dive deeper into topics that interest them. For the 2018-19 school year, our most popular webinars were (all have been archived here and can be watched at your convenience)...
What's Trending in Personal Finance?
Brush Up On Taxes
Using the NGPF Semester Course: Planning for Success
Weaving Math and Personal Finance in the Classroom
Three Part Investing Series
Teachers tell us they walk away from our webinars with several...
NGPF's Extra Mile Award for 2018-19: Professional Learning Communities (PLC)
NGPF's Professional Learning Community (PLC) provides educators with an opportunity to collaborate virtually on an artifact that they want to improve. Teachers meet for 30 minutes over a 3-5 week period until each member has received feedback on their resource. Here's what they tell us they love about PLCs:
"I really enjoyed participating in the PLC. Not only did I get fresh ideas on how to revise my own project, but I got additional project ideas that I can use immediately in my class."...
QoD: Which of the following factors has the MOST negative influence on money habits: family, friends or social media?
Answer: Social Media.
Questions:
Who has had the most positive influence on your money habits? Explain.
What are some examples of how social media can lead to bad money habits?
Explain a situation where a friend may have had a negative influence on how you manage your money?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (Schwab Modern Wealth Report):
Includes many interesting insights, including:
Americans...
NGPF Extra Mile Award for 2018-19: Virtual Professional Development
NGPF introduced a new PD opportunity, Virtual Professional Development (Virtual PD) in January 2019, as a way to facilitate teacher collaboration. In these one-hour video conferences, teachers get an opportunity to use an NGPF resource, reflect on how they would customize for their students and then exchange implementation ideas with other teachers.
Here's a sampling of teacher feedback from these sessions:
"This was just great and I will definitely join you again. The format was...
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