What do I need to know before using the online bank simulation?
THE PROBLEM: You've got an online bank simulation that I can use for free!?!?! Tell me more...
THE ANSWER: Watch this short video to hear a PRO Tip on how to use our online bank simulation and the accompanying short and extended version activities.
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10 Money Milestones For Parents Who Want to Teach Their Kids About Money
By Tim Ranzetta
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Nov 14, 2018
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Parent Conversations, Credit Cards, Paying for College, Career, Checking Accounts, Stocks
I often hear this question from friends and family, "How can I teach my kids about money?" While we developed our website and resources with a classroom teacher in mind, they work well at home too. I think milestones present great opportunities for this learning to take place between parent/guardian and child.
Here are ten money milestones in the life of a teenager with a link to a favorite NGPF resource (or two) that can help kids "learn by doing."
Opening a bank account
Fine...
What's Trending on NGPF Blog in October?
By Tim Ranzetta
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Oct 29, 2018
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FinCap Fridays, Checking Accounts, Paying for College, Career, Employment
Each day, the NGPF Blog delivers two new pieces of content including an engaging Question of the Day. Here's new posts that teachers are reading this month which shows the variety of content you will find there.
FinCap Friday: Human Vs. Machine In this FinCap Friday, students will complete a 5 question Kahoot and then hear a five minute explainer from Yanely.
Interactive Monday: Wage and Employment Growth Across Occupations. Let your students interact with the data on...
We don't like to be embarrassed and it's costing us....billions in bank fees!
I had the opportunity last week to share our new short-form Bank Simulation with AVID students at Mountain View High School. I like to open any class about bank accounts with a question to find out who has a checking account. My next question is intended for these accountholders and is simply "How many of you have ever heard of overdraft fees?" High school students don't always have the best poker faces and it's easy to tell who has felt the sting of these fees. Grimaces, pained expressions and...
Question of the Day: How high would monthly fees need to be to make 18-21 year olds switch banks?
Answer: $30.80
Questions:
Do you know the monthly fees that you currently pay on your bank account?
Why do you think young people seem to have a higher tolerance for fees (fees have to be higher from them to consider a switch) than older generations?
Would it surprise you that 1/3 of bank customers wouldn't switch accounts no matter what the monthly account maintenance fees are? What do you think accounts for this inertia when it comes to switching bank accounts?
Click here...
View from the Trenches: The Checking Account Decision-Making Process (Without A Parent)
By Guest Post
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Oct 08, 2018
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Checking Accounts, Teaching Strategies, Tips for Teachers, Activities
Thanks to NGPF Fellow Charles Kafoglis for sharing this recent checking activity he did with this students which yielded some surprising results.
Here's the view from the trenches:
Each year, in my unit "Bank On It", I use the NGPF Activity to have students describe and compare checking accounts. They must compare checking accounts from three different types of banks: national/regional/local, credit unions, and online banks. One of the three banks must be their current...
What's Trending on The Blog?
By Tim Ranzetta
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Sep 28, 2018
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Budgeting, FinCap Fridays, Checking Accounts, Career, Paying for College
Here's the new posts that have been trending on the NGPF Blog over the past month:
FinCap Friday: Famous and Frugal
Question of the Day: What percent of 18-24 year old anticipate using a bank branch over the next 10 years?
Interactive Monday: What's the Level of Education In Your County?
Interactive Monday: Who's Been Working in America?
Chart of the Week: What is the Most Popular College Major?
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Question of the Day: What percent of 18-24 year olds anticipate using a bank branch in the next two years?
By Tim Ranzetta
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Sep 19, 2018
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Question of the Day, Checking Accounts, Chart of the Week, Research
Answer: 87%
Questions:
How would you have answered this question? Explain your answer.
What was the percent of students in your class who expect to go to a bank branch? How does it compare with the results for 18-24 year olds?
If you have been to a bank branch recently, what did you do there?
What do you think the bank branch of the future (5-10 years from now) might look like?
Click here for the ready-to-go slides for this Question of the Day that...
Question of the Day: What is the average fee when you overdraw your checking account using your debit card?
Answer: $32.75
Questions:
What do you think are the reasons that people spend more money than what they have in their checking accounts?
What has been the trend with overdraft fees since 2013?
What are ways that you can prevent your account from being overdrawn (spending more than you have in your account)?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (MoneyRates.com):
The...
Question of the Day: How quickly do you need to report a stolen debit card to get all your money back?
Answer: Before your stolen debit card is used. [Hmmm...but with cloned cards, you won't know someone has stolen your number UNTIL they use it.]
Questions:
Do you know anyone who has had their debit card stolen? What happened?
Since there is a thriving market in cloned debit cards, what can you do to protect yourself if your account is hacked?
If you don't tell the bank about your card being stolen and your account is drained, is the bank required to pay you back after 60 days after...
Question of the Day: 82% of employees receive their paycheck via: a) Cash b) Direct Deposit c) Check
Answer: Direct Deposit
Questions:
In your own words, what do you think direct deposit is?
What do you think might be a few advantages to receiving your paycheck this way?
In order to receive a paycheck via direct deposit, what does an employee need to have?
Many employees use direct deposit to split their paycheck between their checking and savings accounts. What do you think is a good percentage to put into your savings account?
Here's the ready-to-go slides for...
What We're Reading This Weekend (August 18-19)
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Aug 17, 2018
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Behavioral Finance, Investing, Checking Accounts, Chart of the Week, Budgeting, Paying for College
Quote of the week:
In today’s world, information is cheap; meaning is expensive. [Bob Seawright]
On the issue of sustainability front, Starbucks looking to save 6 billion cups from the waste stream. Their current to-go cup is difficult to recycle (audio from PRI).
Yes, at some point, all good things must come to an end and we will have a recession again. Vanguard attaches some probabilities to it coming in 2020 in this NY Times piece.
Ever wonder why your students (and maybe you...
Question of the Day: What is the most popular financial app on the iPhone?
By Tim Ranzetta
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Aug 13, 2018
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Checking Accounts, Behavioral Finance, Current Events, Payment Types, Research, Question of the Day
Answer: Cash
Here's the leaderboard as of 8/2/18 (from SimilarWeb):
Questions:
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 Quartz):
As more payments take place electronically and bank branches slowly disappear, your...
Just One Resource - CASE STUDY: Check Yourself Before You Wreck Yourself
In this new weekly blog post, Jessica will highlight Just One Resource from our NGPF collection that maybe doesn't get the attention it deserves. Use it this week or bookmark it for later.
[The Resource] CASE STUDY: Check Yourself Before You Wreck Yourself
The Gist: In this challenging case study, students play the role of peer financial counselor (as they often do in our cases) as their clients bring compelling reasons why they'd rather...
Last Question of the Day: Are millennials who use their mobile phones to pay for things at higher or lower risk for financial mismanagement?
Before we get to the Answer...
In October, we made the bold decision to create a daily Question of the Day for the 2017-2018 school year....and we made it! A huge thank you to Danielle for her assistance! For those of you still in session, we have this incredible list (sorted by topic) for you to choose from. Questions of the Day will resume again in early August. In the meantime, please let us know how you used them in your classroom and your students' favorites (and any great questions of the...
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