Category: Checking Accounts

Just One Resource - CASE STUDY: Check Yourself Before You Wreck Yourself

|
Jul 11, 2018
|
Just One Resource, Case Study, Checking Accounts
        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?

|
Jun 07, 2018
|
Checking Accounts, Question of the Day, Research, Payment Types
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...

Tech Tool Review: MyKidsBank.org

|
Jun 05, 2018
|
NGPF Fellows, Teaching Strategies, Activities, Checking Accounts, Interactive, Personal Finance
Teachers who attend our Summer Institute in Palo Alto become NGPF Fellows the following school year -- this Fellowship includes presenting with us at PD sessions, offering NGPF feedback on products, writing guest blog posts, ... the list goes on. Today features a Tech Tool Review from Jill Wilson of Glenwood Springs High School in Glenwood Springs, CO. Here's what Jill has to say... Tech Tool: MyKidsBank.org  (Artificial online, electronic banking tool)  Cost: Free, no advertising Use...

Question of the Day: What percent of Gen Z expect to bank with a tech company (e.g., Apple) rather than with a traditional bank?

|
May 17, 2018
|
Question of the Day, Checking Accounts, Personal Finance
Answer: 44%   Questions: Why do you think almost 50% of Gen Z would choose to bank with a technology company they’re familiar with rather than a brick and mortar bank? What do you predict will happen to traditional banks within the next 10 years? Explain your answer. Would you be comfortable banking with a company like Google or Amazon instead of a traditional bank? Why or why not? Click here for the ready-to-go slides for this Question of the Day that you can...

Question of the Day: How many times does a $1 or $5 bill change hands in a given year?

|
May 03, 2018
|
Personal Finance, Research, Checking Accounts
Answer: About 110 times in a year (or about once every 3 days) This explains why these lower denomination bills wear out a lot more quickly than $100 bills: Questions:  How much cash do you regularly carry with you? If so, do you think your $1 and $5 bills are spent within 3 days, as the data suggests?  Based on the average life span (see above) and annual "touches" information for $1 and $5 bills, about how many times do these bills change hands before they are retired?  Why do...

What's New With......Checking?

|
Apr 05, 2018
|
Checking Accounts, Debit Cards, New Products
Cash or No Cash? Have you noticed your favorite businesses going cashless?  How much cash do you carry? Read how David Gelles of the New York Times decided to give the cashless lifestyle a try. If we are moving to go cashless, then this news about cardless ATMs may have a limited lifespan. Checking Account Fees and Features You are not imagining it: checking account fees are on the rise. You may have to search harder, but free checking accounts still exist. As fintech evolves...

Top NGPF Blog Posts in March

|
Mar 27, 2018
|
Investing, Employment, Career, Video Resource, Checking Accounts, Chart of the Week
We are getting close to the end of the month, so I thought I would highlight most popular seven posts this month: Question of the Day: What Percent of 15 Year Olds Have Bank Accounts? Video Resources: How To Be A Better Team Member Interactive: How Many Years Do You Have Left to Live?; will make the discussion about retirement that much more engaging for young people. Chart of the Week: How Do People Spend Their Money? Question of the Day: What's the Average Number of Emails Received Daily By...

What I'm Reading This Weekend (March 24-25)

|
Mar 24, 2018
|
Investing, Behavioral Finance, Checking Accounts, Personal Finance
A day late but certainly worth the read. More great articles curated by Beth: What I’m reading this week (March 24-25) The Economy and Investing No one was surprised this week when the Fed raised the target interest rate. Editor's note: yet interest rate on savings accounts at brick and mortar banks remain stuck near 0% ("sticky on the way up" is the way I believe economist might describe this behavior by the big banks) There are some interesting things buried in the Omnibus...

Interactive: What's the Banking Status of Households in Your Area?

|
Mar 21, 2018
|
Checking Accounts, Research, Current Events
Hat tip to Jessica for uncovering this gem which will be a great jumping off point for a discussion about having a bank account.  This interactive allows you to get down the MSA level (Metropolitan Service Agency) to uncover trends in the unbanked. The dots represent the MSAs covered in this study:  When you scroll over the MSA in the interactive, you will see this information:  Have your students go directly to the map above and scroll over their MSA and answer these...

Activity idea: Let's Debate A Few Personal Finance Topics

|
Mar 20, 2018
|
Personal Finance, Credit Cards, Paying for College, Checking Accounts
Today’s Wall Street Journal included a “Journal Report” on Personal Finance.  The topics are presented in debate form. Need an impromptu activity? Why not hold a class debate based on one of these?  I think several of these topics might resonate with students and drive home some of your lessons. Should the US Retire the Penny and the Nickel? Should College Education be Free? How Secure is Mobile Banking? Will There Be a Need for Credit Cards in Five Years? Do Most...

Financial Education Explained by Danielle: Your Savings is Not a Backup Checking Account

|
Mar 13, 2018
|
Checking Accounts, Savings
Saving money wasn’t my forte when I was younger. Between my babysitting and summer jobs, I’d save up as much money as I could. Then I would use it to pay for family and friends’ birthday presents, school related costs, and outings with colleagues. I rarely asked my parents for money growing up because I wanted to be as self-sufficient as possible. The only problem was that I consistently depleted my savings account by transferring money to my checking account. In hindsight,...

Question of the Day: What percent of 15 year olds have bank accounts?

|
Mar 12, 2018
|
Question of the Day, Checking Accounts
Answer:  53% Questions: Do you have a bank account?  If so, when did you set it up? If not, why not?  How do you think most teens use a bank account?  For those who set up an account, what is the process you went through to open it?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers [PISA Study]:  In the United States, 53% of 15-year-old students have a bank account...

Question of the Day: What percent of Amazon customers would use Amazon as their primary bank account?

|
Mar 06, 2018
|
Checking Accounts, Current Events, Question of the Day
Answer: About 45% Questions: Would you consider using Amazon for your primary banking needs (checking and saving)? Why or why not? Why do you think Amazon wants to get into financial services? How do you think Amazon will try and differentiate themselves since there are so many banks to choose from?   Do you think they will be successful? Explain. Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the...

Question of the Day: Who is more likely to use their mobile phone to pay bills: iPhone or Android users?

|
Mar 01, 2018
|
Question of the Day, Checking Accounts, Research
Answer: iPhone users (49% of users do!) Questions: What might explain this difference between iPhone and Android users? Are you/will you be more comfortable paying bills through your mobile phone or via physical means, such as check or cash? Explain. Do you think there is an additional cost to paying your bills through a mobile app?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Fiserve...

Question of the Day: What percent of branch banks offer "free" student checking accounts?

|
Feb 28, 2018
|
Question of the Day, Checking Accounts, Current Events
Answer: 94.59% Hat tip to NGPF team member, Sonia, for finding this awesome research report! Questions: Do you think there are ANY fees with "free" checking accounts? If so, can you think of any examples?  Why do you think that so many banks offer "free" checking accounts to students?  What do you think happens to your account fees after you leave school and no longer qualify for a student account?  Click here for the ready-to-go slides for this Question of the...