Category: Budgeting

How To Manage Your Spending Habits

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Oct 10, 2017
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Article, Generosity, Budgeting, Personal Finance
One of our NGPF team members recently discovered this New York Times article about different saving habits that people have developed over the years. NGPF is a big proponent of matters regarding personal finance, and so we thought we’d share this article, which is full of very helpful saving advice, with you. Financial education starts in the home, and it begins with developing good spending and savings habits. One of the best—and in my opinion, most mindful—saving habits from...

Saving vs. Investing: Where Should You Put Your Money?

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Sep 29, 2017
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Article, Budgeting, Stocks, Personal Finance, Investing
Warren Buffett, perhaps one of the most well-known investors (and philanthropists) of our time, once said, “Do not save what is left after spending, but spend what is left after saving” (EOC POTPOURRI: Financial Literacy Edition). These days it’s all too easy to follow the mantra “treat yo self” and spend your hard earned money on things you don’t necessarily need the minute you get that direct deposit notification. So how much should you save every time you...

The Real Cost of Food Delivery

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Sep 26, 2017
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Article, Budgeting, Personal Finance, Purchase Decisions
Not all heroes wear capes...some don casual clothing, drive their cars to pick up food from the restaurant of your choice, and deliver it to your door at a minimal fee. Gone are the days of food delivery being limited to just Chinese food and pizza. With apps such as GrubHub, Caviar, and Postmates, many restaurant goers have the ability to simply kick back at home after a long day at work and have food delivered to their doorstep. But the big question at hand still remains: is the convenience of...

Chart: What's The Cost of Living In Your Community?

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Sep 25, 2017
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Chart of the Week, Budgeting, Question of the Day
Another great interactive map from Visual Capitalist (CEO Jeff Desjardins recently appeared on NGPF podcast) showing the relative value of $100 in communities across the U.S. (go directly to the map on the website which will allow you to scroll over to get information on your specific metro areas):   Questions: Which states/regions seem to have lowest cost of living (where $100 is worth the most)?  Which states/regions seem to have highest cost of living (where $100 is worth the...

Is it Worth Carrying Cash Around Nowadays?

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Sep 19, 2017
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Article, Budgeting
The convenience of person-to-person money transfers has made them quite popular among young Americans across the country. Mobile apps such as Venmo, Paypal, and Square Cash allow users to input their debit or credit card information, and send money directly from their banking account to someone else’s in a matter of seconds! For instance, if a group of college students go out and one forgets their wallet at home--but not their phone--they’d be able to pay back their friend who...

NGPF Podcast: Back To School Special With Educator Brian Page of Reading High School (Reading, OH)

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Sep 15, 2017
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Podcasts, Advocacy, Budgeting, Behavioral Finance
It's our back to school special with Brian Page, educator at Reading High School in Reading, Ohio. It's becoming a rite of passage on the NGPF podcast with Brian making his third appearance to discuss his summer activities (he did some great advocacy work for us) and the new honors course he developed. He shares some of his favorite activities and how a new book has made him rethink how personal finance should be taught. Oh, and listen closely to hear how a cologne purchase brought happiness to...

NGPF Podcast: Tim Talks To Behavioral Economist Dr. Sarah Newcomb

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Aug 27, 2017
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Podcasts, Behavioral Finance, Budgeting
  Today on the podcast is behavioral economist Dr. Sarah Newcomb, the author of Loaded: Money, Psychology and How To Get Ahead Without Leaving Your Values Behind. It's a thought-provoking book that focuses less on the mechanics of managing money and more on the psychology. Specifically, Sarah challenges us to look inward to identify the narratives or stories that we tell ourselves about our relationship to money. These stories can help us or sabotage our financial lives but the...

Interactive: What's the Median Income in Your County?

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Aug 27, 2017
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Interactive, Budgeting, Chart of the Week, Question of the Day, Career, Current Events
Another great interactive from Visual Capitalist here:   Note: This is a static chart; go directly to the website to be take advantage of interactive features.  Question for students: What are the sources of household income?  Work will be the obvious answer, capital (dividends, capital gains from investments) will be a less obvious one Many students will also be familiar with the gig economy and know that there might be multiple income streams What do you think determines how...

Video: What Is the Future of Retailing?

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Aug 24, 2017
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Purchase Decisions, Budgeting, Behavioral Finance, Video Resource
Interesting video (duration of 8:48) from PBS NewsHour: "Is traditional retail dead? There have been more store closings this year than any since the Great Recession, with retailers filing for bankruptcy at a record pace. And yet online retailers like Amazon and Warby Parker are adding brick-and-mortar stores. What’s the secret to keeping afloat as shopping evolves? Economics correspondent Paul Solman reports." Questions: What is having the most dramatic impact on the demise of...

Three Planet Money Podcasts To Enjoy: Origin Story of Warehouse Clubs, Resurrecting the Hydrox Brand and the Starbury Sneaker

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Aug 23, 2017
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Purchase Decisions, Current Events, Podcasts, Budgeting
I have been on a bit of a podcast binge lately and here are three that I thought you would enjoy: "The Anti-Store" tells the story of a warehouse club pioneer and how he stumbled upon this niche and the mistakes he made along the way. What are the attributes of the business model that have led to the success of the warehouse clubs? Despite being a difficult store to shop, why do you think people continue to flock to Costco and Sam's Club? How is Jet seeking to disrupt the retailing space? Why...

Interactive Handouts Courtesy of Barbara O'Neill and Kerri Herrild!

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Aug 11, 2017
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Interactive, Budgeting, Featured Teachers, Investing, Lesson Idea, Tips for Teachers, Summer Institute, Teaching Strategies
As part of our Summer Institute session, educators had the opportunity to take an engaging personal finance interactive resource and create a handout to accompany it.  Hat tip to Barbara O'Neill of Rutgers University, New Brunswick (NJ) and Kerri Herrild of De Pere High School, De Pere (WI) who shared their finished products with us. For those of you looking for high quality, engaging, resources guaranteed to get your students thinking about their financial mindset, look no further than...

Interactive: What Does $1,500 In Monthly Rent Buy You in Different Markets?

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Jul 11, 2017
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Interactive, Question of the Day, Research, Budgeting, Chart of the Week
Visual Capitalist provides a great interactive tool for your students to see the wide disparity in the cost of living as seen through rental costs: With rental prices across the country continuing to rise from this demand, there is one question on the minds of many Americans: how and where can dollars spent on housing be stretched the furthest? Why is this important to know? Largest cost item for young people living on their own will be that monthly rent check so they better have a realistic...

NGPF FAVORITES: Our Best OFF TO COLLEGE Resources

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Jul 07, 2017
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Activities, Credit Scores, Activity, Behavioral Finance, Career, Paying for College, Budgeting, Savings, Student Loans, Stocks, Current Events, Interactive
This month’s NGPF Favorites List comes from Sid Sharma – one of NGPF’s veteran “Power Interns” who has been with us for 3 years. Sadly, we will wish him well as he heads off to college this fall! We wanted Sid to reflect on his NGPF experience (he has literally “touched” every element in the NGPF curriculum) and highlight the resources that have enabled him to become the knowledgeable, action-oriented, process-innovator that he is today!...

Do Your Weekly Lunches Cost You $90,000 in Retirement Savings?

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Jun 14, 2017
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Chart of the Week, Behavioral Finance, Budgeting, Personal Finance, Article, Math, Retirement
“US households spent $3,008, or about $8.35 a day, on average, eating out in 2015… Investing $3,008 each year… would add up 30 years later to… more than $250,000.  Similarly, investing $3.50 a day for 30 years instead of buying a latte would add up to savings of nearly $107,000”. (USA Today, June 2017) _________ We all know that it is hard to save enough for retirement.  Financial education teachers also know that students sometimes struggle to relate decisions...

Shopping In The Amazon Era

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Jun 08, 2017
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Budgeting, Research, Purchase Decisions
A fella two rows back from me on my flight today was lamenting the fall of Sears. He hadn’t shopped there in a while and was surprised how far and how fast the retail experience at their stores had declined. As more and more shopping moves from “bricks and mortar” to online, we better start developing a new skill set for shoppers. You will see one example of what can go wrong with online shopping described below. But before we get to that, here are some stats showing the...

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