Jun 15, 2020
Teaching Remotely, Budgeting
A key aspect of creating a budget that works is determining needs from wants. This type of lesson is typically a staple when teaching personal finance. In the activity, COMPARE: Needs vs Wants, students will prioritize budget items to determine their needs vs wants and consider how their values and budget ultimately determine how they spend their income.
At a time where many schools have transitioned to offering synchronous and asynchronous learning, we've listed some adaptations and extension...
Jun 01, 2020
Question of the Day, Budgeting, Purchase Decisions
Answer: Auto loans
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
This research focused on bills that are paid by households. What other major costs would show up in a typical household budget?
4 of the 9 monthly bills have this word in them. What is it?
Which billing category above do you think families may be looking to reduce now?
A great way to end the year is with our Salary-Based...
May 31, 2020
Purchase Decisions, Question of the Day, Budgeting
What normally is the cause of higher prices on grocery items? Why do you think prices rose so quickly in April?
How do you think consumers react when prices of certain grocery items go up? Do they stop buying them, buy less or still buy the same amount or more?
Do you anticipate these prices to continue to increase in the month ahead? Why or why not?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom....
May 29, 2020
Podcasts, Personal Finance, Budgeting, Savings, Investing
It was a great honor to host Jean Chatzky recently on the NGPF podcast. Author, analyst, commentator, columnist, entrepreneur, educator and if you listen to the podcast...there's even more. Jean shares why she is so passionate about financial education, how her mother influenced her attitude about gender roles when it came to money and what happened when she traveled to Vegas to talk mutual funds with basketball star Dennis Rodman. In a lightning round of Q&A, Jean shares her insights on...
May 29, 2020
Current Events, Personal Finance, Budgeting, Investing
Pandemic Round Up
Weekly unemployment claims totaled 2.1 million last week, bringing total claims to over 40 million. (CNBC)
Summer jobs for teens are hard to find this year. (WSJ) (For reference, here is what the job market looked like for teens last summer: unemployment stood at a 50-year low. WSJ)
Amazon is looking to make 125,000 of the jobs it added to deal with the pandemic permanent hires. (TechCrunch)
USA Today sums up the permanent changes in our economy as we learn to live with this...
May 27, 2020
Question of the Day, Budgeting
See how well you can do with the top 5 questions from this school year:
What percent of 18-34 year olds are investing in the stock market?
What percent of U.S. millionaires are professional athletes?
What percent of college graduates end up working in the field of their major?
What will your credit score be after your first six months of making on-time payments?
Would you rather have $1,000,000 or start with a penny and double your money every day for 30 days?
37% of 18-34 year olds...
May 25, 2020
Teaching Remotely, Budgeting
Budgeting is a foundational topic in any personal finance class. A hidden gem in the NGPF curriculum is case studies. A great activity that combines both of these variables is Case Study: How Do I Budget?
NGPF Case Studies present personal finance issues in the context of real-life situations. Students explore decision-making, develop communication skills, and make choices when there is no "right" answer. In this case study, students learn the basics of budgeting, from setting priorities,...
May 19, 2020
Question of the Day, Checking Accounts, Budgeting
Here's the leader board as of 5/17/20 (from SimilarWeb):
Do you have financial apps on your phone?
If so, which do you use most often?
If not, why not?
What are the pros of cons of using your mobile phone to manage your bank account?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (from Forbes):
As more payments take place electronically and bank branches slowly disappear,...
May 11, 2020
Teaching Remotely, Budgeting, Investing, Taxes
MOVE activities are some of the best NGPF activities to use in the traditional classroom. They require students to apply their knowledge through a fun, out-of-their-seats, whole class challenge. But times are different right now and learning is taking place remotely. So, how can teachers take the context of the MOVE activity and use it in the digital environment?
We have created TWO adaptations to THREE of our most popular MOVE activities that you can use in either a synchronous or asynchronous...
May 10, 2020
Question of the Day, Budgeting, Savings
Answer: About $30/week
If you currently receive an allowance...
Do you have to do chores to earn it?
Do you save any of it? For a larger purchase or save in a bank?
How long have you been receiving it?
If you don't receive an allowance currently...
Did you ever receive one?
Do you have a job and earn money that way?
What experiences do you have with earning and spending money?
Click here for the ready-to-go slides for this Question of the...
May 05, 2020
Question of the Day, Budgeting, Career, Research
Answer: In the 1950s and 60s, about 2 in 10 Americans moved to new places while in 2019, 1 in 10 Americans moved.
Has your family moved at all since you were born? If yes, how many times?
Why do you think that people move so much less than they did 60-70 years ago?
Given the current economic challenges, do you think that people will be more willing to move to find work?
Do you think that young people (18-24) move at higher or lower rates than this national...
Apr 20, 2020
Question of the Day, Purchase Decisions, Behavioral Finance, Budgeting
Answers will vary.
Hat tip to Tim Ferris who asks this question of his podcast guests. Here’s a sampling of what a few celebrities said were the best thing they bought under $100:
The right backpack
$4 to park near a beautiful lake to take a swim
Good, plain, no-lined Moleskine notebook
A book for my son which we read together
Shirt that says “I can do all things”
Was your purchase a “thing” or an experience?
What made this so impactful to you?...
Apr 19, 2020
An easy to use budgeting interactive is the perfect tool for any personal finance course transitioning to online learning. Shout out to FAME - Finance Authority of Maine for creating exactly that. FAME’s Claim your Future gives your students a simplified look at the budgeting process in a budgeting interactive that takes less than 15 minutes to complete. It starts with a brief assessment and then provides a randomized (or chosen) profession/income. Then students get to decide how much to...
Apr 19, 2020
Interactive, Behavioral Finance, Budgeting
Stimulus checks started showing up in bank accounts over the past week so I thought this was a relevant question. Note that if the IRS doesn't have your bank account information, checks will be sent out later this month.
How do you think that most Americans will spend these checks which are $1,200 for individual taxpayers and $2,400 for couples with an additional $500 for children under age of 17?
The stimulus checks are NOT going to individuals and couples...
Apr 12, 2020
Savings, Question of the Day, Budgeting
Stimulus checks (of $1,200 for individuals, $2,400 for couples and $500 per child) are expected to be deposited into bank accounts this week.
Answer: Pay bills
Here's how Americans plan to use the funds
How do you think YOU would handle a lump sum payment of several hundred dollars NOW?
What would be examples of “day-to-day essentials?”
What is the importance of having an emergency savings fund now?
Click here for the ready-to-go slides for this Question of the Day that...