Reading List for January 3-5 (2020!)
Happy New Year! This week's list includes a few articles reflecting back on the the past decade, as well as reflections on personal financial health and habits.
If you want an incredibly comprehensive look at what transpired in 2019, Barbara O'Neill has your back in this Journal of Financial Planning article, 2019 Personal Finance Year in Review.
Financial Literacy
The emphasis in this article is moving the financial education much earlier in a child’s development. (Education Dive)...
Best of 2019: Most Visited Unit Pages
By Tim Ranzetta
|
Dec 30, 2019
|
Checking Accounts, Paying for College, Credit Cards, Credit Reports, Career, Investing, Insurance
Our Unit Pages are the most visited pages on the NGPF website. Why? It provides teachers with all of the NGPF resources available on a given topic (unit) on ONE page. So, whether you are looking for 45 minute lessons or just individual resources to supplement your existing lesson, you can find them on the unit page.
Here were the unit pages that received the most page views:
Checking
Budgeting
Taxes
Types of Credit
Investing
Career
Paying For College
Saving
Insurance
Managing...
QoD: What percent of consumers overdraw their checking accounts annually?
Answer: 30%
Questions:
Why do you think that so many people overdraw their checking account?
What steps can YOU take to avoid overdrawing your account?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (CFPB study cited by Bankrate):
CFPB study: "A small group of consumers pay most of these fees. In a given year, only 30% of consumers overdraw their checking account. The 8% of consumers who overdraft more than 10...
NGPF Podcast: Andy Rachleff of Wealthfront discusses self-driving money
Andy Rachleff is back on the NGPF podcast (previous appearance here) and provides us with an update on both Wealthfront's progress and the recent trends in financial services. Andy discusses new features offered by Wealthfront, consumer reaction to their new Cash Account, and how financial advice is ripe for creative destruction. Listen to this podcast and you will get insights on how AI (artificial intelligence) will change how we manage our money.
Details:
0:00~1:29...
QoD: Which tech company do consumers trust the most to handle their finances: Amazon, Google or Apple?
As technology firms increasingly angle their way into financial services, the trust factor becomes an important one.
Answer:
Questions:
How would you answer the question? Why?
Do you think technology companies will have success competing against existing banks? Why or why not?
Thinking like an entrepreneur, what has been one part of your experience with banks that you think needs to be improved?
Here's the ready-to-go slides for this Question of the Day that you can use in your...
Reading List for September 27-29
By Beth Tallman
|
Sep 27, 2019
|
Paying for College, Advocacy, Economics, Investing, Personal Finance, Insurance, Checking Accounts
Advocacy
The Pennsylvania Senate passed a bill that would require students to take a semester-long personal finance class to graduate high school. The bill now moves to the House. The bill proposes that the credit for the class could be applied to social studies, math, business, or family and consumer science graduation requirements. (CBS-Pittsburgh)
A survey from Country Financial found that 86% of Americans think financial education should be mandatory. (LowCards)
Economics
There...
QoD: If a bank mistakenly deposits $100,000 into your bank account, is it now YOUR money?
Hat tip to Brian Page and Lana Main for sharing this story!
Answer: Nope.
Here's a two minute video explaining what happened to a couple in Pennsylvania who "had a bank error in their favor:"
Questions:
Does this seem fair to you? Why or why not?
The couple in this story used the $100,000 to go on a shopping spree. Imagine you suddenly received $100,000 (legitimately and not through a bank error), how would you spend it?
Click here for the ready-to-go slides for this...
Have you seen the new "What's New With _________?" posts?
By Beth Tallman
|
Aug 31, 2019
|
Current Events, Credit Reports, Index Funds, Investing, Credit Cards, Checking Accounts, Career
We all know that things are always changing in the world of Personal Finance. We bring you a weekly reading list of news related to Personal Finance, Economics, and other topics relevant for teachers, but what if you want to hone in on what’s been happening in just one topic?
This year, the “What’s New With” series of blogs is a bit different than in the past. We are pulling in fewer articles on each topic, but going into more depth within the blog to explain what has...
QoD: Savers in England received information about rival banks with higher interest rates. What percent were prepared to switch banks?
By Tim Ranzetta
|
Aug 25, 2019
|
Question of the Day, Savings, Checking Accounts, Behavioral Finance
Answer: 3%
Questions:
If you could make an extra $100 in extra interest by switching banks would you do it? How about $20 in extra interest?
Would the amount of time required to open a new bank account impact your willingness to switch banks? Explain.
Why do you think so few savers were ready to switch banks despite a potential benefit of $150 in the first year?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the...
Sorry...but I have to vent
August 21, 2019
Dear Jamie Dimon [Chase CEO],
I applaud your leadership role on the Business Roundtable and your recent commitment to creating value for stakeholders other than just your shareholders. Earlier this week, you were quoted as saying that this shift away from a shareholder only focus “will help to set a new standard for corporate leadership.”
Given your renewed focus on customers and setting new standards for leadership, I thought I would offer a suggestion on one policy...
Reading List for August 9-11
By Beth Tallman
|
Aug 09, 2019
|
Checking Accounts, Economics, Investing, Retirement, Career, Current Events
Checking
With mobile deposits, checks may be “deposited” more than once. Banks’ systems are not catching all duplicate deposits. This happened to an organization for which I am the Treasurer, and it can happen to you. (Cleveland Plain Dealer)
This is potentially big news for folks living paycheck-to-paycheck. The Fed just announced that they will develop a public sector system for real-time payments (check clearing). (New York Times)
Here is a British perspective on...
What's New With....Checking Accounts (and ways to spend from them)?
What’s new with checking accounts, and banking in general? In a word, technology…..it changes how we bank, where we bank, and how banks themselves are evolving to compete with all FinTech players have to offer.
How banks are changing
Banks have offered online bill pay for a while now. According to the Federal Reserve, check writing has declined by 3-5% each year between 2012-2017 as a result. What you might not know is that 20% of these payments are still made with a physical...
QoD: Match up the percent with the correct item below: 8%, 50%, 75%.
a) Percent of millennials that use peer-to-peer payments (e.g., Venmo) weekly
b) Percent of customers that change banks in a given year.
c) Percent of Americans under 25 that would rather go without their wallet than their phone
Answer (from Economist; subscription required):
a) 50%
b) 8%
c) 75%
Questions:
Do you use a peer-to-peer payment service? Why or why not?
Why do you think that such a low percentage of people change banks ever year?
Would you rather go...
QoD: If my employer offers to pay me using a payroll card, do I have to accept it?
Hat tip to Leigh Weldin of Conrad Schools of Science (DE) for this Question of the Day idea. She mentioned how many of her students were asking her about these payroll cards.
Answer: No
Questions:
Would you tell your employer you don't want to get paid using a payroll card? Why or why not?
What do you think are alternative ways for you to get paid?
Why do you think that companies like using payroll cards?
Here's the ready-to-go slides for this Question of the Day that you can use...
QoD: Can you name ONE of the most Googled money questions for 2018?
Hat tip to Beth Tallman for sending this one along.
Answer: Here are the top 5:
5. How much is my house worth?
4. What is bitcoin?
3. How to write a check?
2. How much house can I afford?
1. Where is my tax refund?
Questions:
What money question are you most curious about right now?
Why do you think that so many people are preoccupied with their tax refund?
Are you surprised to see any of these top 5 most Googled questions on this list?
Why do you think that two of the top 5...
Teacher Accounts
To get access to NGPF answer keys, assessments, and teacher-only resources: create a FREE Teacher Account
