About the Author
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.
Aug 09, 2019
Purchase Decisions, Podcasts, Budgeting, Behavioral Finance
I had Andrei Smith back on the podcast recently where we talked about what's ailing the car industry, the promise of autonomous and electric vehicles and the owning vs. leasing debate. He also shares his observations on the current zeitgeist in Silicon Valley when it comes to status symbols and car buying behaviors. Enjoy!
1:14~2:04 Current state of car dealerships
2:04~11:14 The slowdown in car sales
11:14~19:08 Introduction of electric car sales...
Aug 02, 2019
Podcasts, Investing, Professional Development
Don Dutkowsky has lots of great insights to share after nearly four decades in the classroom as a college Economics Professor with a keen interest in personal finance. In this wide-ranging conversation, Don discusses his passion for financial education, how he incorporates personal finance concepts into his economics work and his work with high school teachers in New York state. He's also a master storyteller and clearly knows how to bring personal finance to life for his students. Enjoy! ...
Jul 26, 2019
In this engaging podcast, Scott shares his inspiration for FinMango and the early successes his organization has seen.
1:57~3:35 Source of passion for personal finance
3:35~6:39 What is FinMango?
6:39~11:15 The first days of FinMango
11:15~11:38 A word from NGPF
11:38~14:42 Countries FinMango has a presence in
14:42~17:03 Ideas and projects coming out of the incubators
17:03~23:53 Work in the US
23:53~26:11 Considering professional...
Jul 19, 2019
It's conversations like these that provide such clear evidence about the impact that finance education can have on young people's lives. Preenon Huq benefited greatly from taking NGPF Fellow's James Redelsheimer's class while he was a student at Robbinsdale Armstrong High School (MN). It's a course that is still paying dividends for him today (sorry but I couldn't resist). Listen to how Preenon has navigated his way to a rewarding career path and how he's giving back to the school...
Jul 18, 2019
An open letter to the CFPB,
I read with great interest the recent WSJ article about how your agency is shifting your focus from regulation to education. I will reserve judgment about whether that is the right decision for an agency set up to protect consumers. The political pendulum swings to and fro between regulation and deregulation and this administration's preference is clearly deregulation.
Since education is where you are looking to focus, I wanted to provide some advice on how to...
Jul 16, 2019
This recent research out of UCLA provides a useful reminder of the importance of behaviors (and habits) when it comes to financial capability which I have written about here, here and here.
Here's a few of the financial behaviors which often have an emotional component to them also:
Paying down loans with lower balances (vs. higher interest rate loans): "Research shows that consumers often have better success if they repay smaller debts first. The psychological lift of being able to pay...
Jul 14, 2019
Here's what teachers are saying about our new Virtual PDs:
"Keep it up. NGPF has been the most engaging PD I've attended in years."
"I am absolutely inspired...I am more prepared to teach my students in the fall."
"Great session! Loved it and will be back for more."
We have a full slate of professional development opportunities this week for teachers. Each will help you earn credit towards NGPF Academy. All times listed below are Pacific Time.
Virtual Professional Development: a...
Jul 14, 2019
Enjoyed reading this article from Jim Wasserman (he's on the NGPF podcast here) which highlights 20 ways that marketers nudge us to make decisions to purchase a given product.
See if you can match up these terms with the resources below:
Bandwagon appeal (aka FOMO, fear of missing out)
After completing the exercise, answer the following:
Why do you think these techniques are effective?
Which of the five listed above do you see most...
Jul 12, 2019
All too often, the legislative efforts and policy debates about personal finance education leave out an all important voice: the student. That's why I was so happy for the opportunity to talk to Jack and Nick about their efforts to move the state of Rhode Island forward in improving access to financial education. In this podcast, you will hear about the motivation behind their advocacy efforts, their "elevator pitch" to legislators and what they have personally gained by taking Pat Page's...
I spent a few hours recently researching various ways to bring behavioral finance into the classroom. I will be developing several of these ideas in the coming weeks but wanted to share as activity ideas.
Which do you think has more effect and why on a person interested in purchasing a smart phone (from Acadly):
A. “They are having a sale and It costs only $300 now!"
B. “FYI today’s the last day of the sale. If you don’t want to miss...
Jul 07, 2019
Personal Finance, Credit Cards, Student Loans
As the calendar turns from June to July, I wanted to share with you a few of the top posts from the school year just ended. Think of this as a great list to generate some new ideas for your personal finance course or even some after-school activities for the upcoming school year:
#10: Let's debate a few personal finance topics
#9: Looking for writing prompts? Here are a few for your personal finance course!
#8: Question of the Day: What percent of people age 75 and older are...
Jul 05, 2019
The NGPF Podcast goes international in this conversation with Alero Awoyemi, the passionate leader of a financial education non-profit called Proshare Foundation. You will learn about the current state of financial education in Nigeria and Alero's role on improving it. It was intriguing to learn about the similarities and differences when it comes to the key concepts that Proshare is seeking to teach Nigerian youth as well as the typical financial products that are used by consumers in this...
Jun 28, 2019
Podcasts, Personal Finance
Phil reached out to me about a year ago via email to schedule a meeting during his trip to the States from Australia. Our paths crossed at the Dover, Delaware FinCamp this spring which was fortuitous given the logistical challenges he encountered while en route. As a recipient of the prestigious Churchill Fellowship, Phil chose to investigate innovative methods of equipping teenagers with essential financial skills for life in the U.K., U.S. and Canada. In this podcast, he shares what he...
Jun 21, 2019
In this NGPF podcast, you will hear from two amazing personal finance advocates. Their teacher, Brian Page, shared Anna and Carly's term paper "Balancing American Education" which should be required reading for all school administrators and state legislators. Their paper highlights the problem of financial literacy, its financial and social emotional consequences and the solutions. Having had the benefit of a course at their high school, they make an impassioned plea that all students should...
Jun 16, 2019
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...