Category: Budgeting

Question of the Day: What percent of Black Friday shoppers expected to shop online?

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Nov 29, 2020
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Question of the Day, Budgeting
Answer: 64% Questions: Did you do any shopping on Black Friday?  Do you have a budget for holiday gifts this year?  Do you think it's easier to spend more online than when buying at a store? Why or why not?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Deloitte report):With shoppers significantly cutting back on in-store visits, the demand is high for convenient options to meet safety needs. In...

Question of the Day: What's the cost of a Thanksgiving dinner for 4 in 2020?

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Nov 22, 2020
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Question of the Day, Budgeting
Answer: From $28 to $58 (rounded up) depending on where you shop Questions: Assume you have an extra $10 to spend, what additional food items would you add to this list for Thanksgiving dinner?  Do online research to make sure you’re not spending more than $10.  What are you thankful for this Thanksgiving season?  ------------- Extension MATH Activity: Costco was not included given the bulk size of the products they sell (Thanksgiving leftovers might last through New...

Reading List for November 13-15

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Nov 13, 2020
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Investing, Economics, Student Loans, Budgeting
Investment Retirement account balances on the rise, as are 401k “Millionaires.” (Yahoo Finance) The pandemic seemed to be driving the market this week: soaring when promising vaccine results were announces, then fell back as case numbers continue to spike. (Yahoo Finance) It is going to be a big year for consumer tech IPOs. (CNBC) Instacart is one of many companies planning an IPO in coming months. (Fox Business)   Economics Unemployment claims moving in the right direction,...

Question of the Day: What is the top-selling fast food category: Snacks, Burgers or Pizza?

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Nov 03, 2020
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Question of the Day, Budgeting
Answer: Burgers with $81.6 Billion in sales in 2019 Questions:  How much of your personal food budget goes to "fast food?" How do you think COVID-19 has impacted fast food sales? Do you think this will be a temporary or lasting change?  Have you seen more examples of healthier options being offered at fast-food restaurants? What do you think is causing this trend?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the...

Reading List for October 30-Nov 1

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Oct 30, 2020
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Financial Literacy, Economics, Budgeting, Investing, Insurance
Hope you all have a happy and safe Halloween!   Financial Literacy Ally is “leaning into gamification” to attack the financial literacy gap, beginning with “Animal Crossing.” (PRNewswire)   Economics Yahoo Finance provides a wrap-up of this week’s economic data releases. * Consumer spending increases 1.4% in September * Personal income rebounds 0.9%; savings rate dips to 14.3% * Core PCE price index rises 0.2%; up 1.5% year-on-year GDP rebounded in...

Question of the Day (Update): What percent of high school seniors have a driver's license?

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Oct 21, 2020
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Question of the Day, Budgeting
Answer: 71% Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the Numbers (Wired Magazine)   71% of high school seniors have a driver’s license—the lowest percentage in decades.   15% of teens cite being able to communicate online as a reason for not getting a license before 18.   36% say the main reason they’re not learning how to drive is its “overall cost.” State subsidies for...

Question of the Day: Can you name two of the top websites that used car buyers visit to research and shop?

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Oct 20, 2020
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Question of the Day, Purchase Decisions, Budgeting
Answer: Questions: What research have you done/will you do when you purchase a car?  How important do you think research is when buying a car? Explain. When conducting research for used cars, what information should you be looking for?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Cox Automotive 2020 Car Buyer Journey Survey):  Other statistics about used car buyers:  81% of used car buyers...

New Economy Adaptation -  CREATE: A Salary-Based Budget

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Oct 19, 2020
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Activities, Budgeting
Last week we shared the month to month income swing reality for more than 1 in 3 American households with a few ideas for appropriately modifying our companion handout to Spent. This week we are going to share how you can help students understand this new reality with a few simple changes to CREATE: A Salary-Based Budget. What we’ve suggested can be done in person or in a remote teaching and learning environment.  There are a number of ways you can illustrate to the students how...

Question of the Day: What were the 3 most popular Gig Economy jobs last year for adults?

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Oct 19, 2020
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Question of the Day, Budgeting
Answer: Selling goods online (9%), House cleaning/Yardwork (7%), Sold goods at a flea market (5%) Questions: Were these the Gig Economy jobs you were expecting to be most popular? Why or why not? Why might selling items and house/yard maintenance be the most popular gigs? What are some reasons a person might want to work in the Gig Economy? Would you ever consider working in the Gig Economy? Why or why not?   Click here for the ready-to-go slides for...

Reading List for October 16-18

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Oct 16, 2020
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Current Events, Economics, Investing, Paying for College, Budgeting, Insurance, Retirement
Economics Retail sales up 1.9% in September. (CNBC) The unexpectedly big gain in spending comes after months of historically high savings as consumers retrenched due to the Covid-19 scare. The personal savings rate peaked at 33.6% in April and remained at 14.1% in August, the highest pre-pandemic rate since June 1975. (Ed Yardeni) took a closer look at the recovery by sector of the economy in his blog post dated October 9.  First-time unemployment claims of 898,000 back on the rise this...

Question of the Day: How many paid media and entertainment subscriptions do Gen Z consumers have?

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Oct 11, 2020
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Question of the Day, Budgeting, Research
Answer: 14 Questions: How many paid media and entertainment subscriptions do you have? Have you added/dropped subscriptions since March of this year? How much do each of them cost?  With the subscriptions you have, prioritize them from most to least important.  Are there any that you have signed up for that you forgot you had? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Deloitte Digital media trends...

Question of the Day (Updated): How much more does a TV cost from a Rent-To-Own retailer than upfront in cash?

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Oct 07, 2020
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Question of the Day, Financial Scams, Budgeting
We have all heard of rent-to-own stores and how you can purchase a large TV for only a small monthly payment! I did some digging to find out how much it would cost to rent-to-own a brand new 65in HDTV. Here is what I found: Answer: $1,000.10 more to rent-to-own (After 21 monthly payments of $86.63 I would pay $1,000.10 more than the original cash price of $799) View more rent-to-own merchandise at rentacenter.com How do rent-to-own stores work? (finder.com) Rent-to-own stores are a way to get...

New Economy Adaptation - Budgeting In an Era of Income Volatility

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Oct 06, 2020
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Activities, Behavioral Finance, Budgeting
Background. Let your history teachers know that they will need them to teach students how budgeting was taught in the past: with steady monthly income and expenses and saving for an emergency that’ll pop up here and there. In today’s world, that is no longer the reality for many Americans. Take every lesson that has anything to do with budgeting and look at it through the lens of what is the increasing reality of millions of Americans: Pre-COVID statistic: more than one in three...

Question of the Day (Updated): What percent of online sales go through Amazon?

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Sep 28, 2020
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Question of the Day, Budgeting
Answer: 38.7% Questions:  How often do you or your family ever purchase from Amazon?  What types of items do you tend to purchase?  Why do you think Amazon has such a large percentage of online sales? Given how easy it is to purchase an item from Amazon, what strategies can you use to limit your impulse purchases? In five years, do you think people will be purchasing more or less from online retailers? Explain.  Click here for the ready-to-go slides for...

Question of the Day: How much money do consumers spend on the internet every 60 seconds?

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Sep 27, 2020
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Budgeting, Purchase Decisions, Question of the Day
Answer: $1 million Questions: Now that you know how much is spent in a minute on the internet, calculate how much is spent in... an hour, a day, a month, and a year.  How many of the activities in the visual do you engage with on the internet?  What impact do you think that Covid-19 has had on shopping on the internet? Do you think this will be a temporary or permanent shift? Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the...