Category: Checking Accounts

Question of the Day (Updated): How many checks does the average American write each year?

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Sep 16, 2020
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Question of the Day, Checking Accounts
Answer: 36 Questions: If you have a checking account, how many checks have you written in the past month? What do you think are the most common expenses that people write checks for?  What do you think the answer to the number of checks would be for the average teenager with a bank account? Do you think the answer to this question will change in the next five years? Explain.  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the...

Question of the Day (Updated): 93% of employees receive their paycheck via: a) Cash b) Direct Deposit c) Check

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Sep 14, 2020
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Question of the Day, Checking Accounts
Answer: Direct Deposit Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. 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...

What's New With Checking -- 2020

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Aug 13, 2020
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Checking Accounts
Why open a checking account, and how to find one for you? Operating in cash during a pandemic became difficult pretty quickly. Although anecdotes suggest people were hoarding cash initially, it has been increasingly difficult to use, as lack of circulating currency means stores are often short of coins. During the pandemic, half of Americans surveyed said they use contactless payments.   Furthermore, stimulus checks and other government benefits come much faster if they are directly...

Virtual Adaptation - PLAY: Payment Decisions

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Jul 13, 2020
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Teaching Remotely, Checking Accounts
In the activity PLAY: Payment Decisions, students will determine which payment type to use in a variety of scenarios. Students will weigh the pros, cons, and financial impact of using cash, a debit/prepaid card, a credit card, or P2P payment. There are many creative ways this activity can be incorporated in the classroom. We've listed some ideas that may work well for a synchronous or asynchronous virtual learning environment.      Synchronous Environment Ideas: Display the...

EdPuzzle Thursday: Checking Accounts & A Cashless Society

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May 27, 2020
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EdPuzzle Thursday, Checking Accounts
EdPuzzle is a great platform to test for knowledge while students watch a video and learn remotely. We will be releasing new EdPuzzle videos here on the blog each week so that your students can answer questions that are directly embedded within engaging videos.  This week we have two EdPuzzle videos; one focusing on checking accounts and one answering the question - is cash going extinct?   The first EdPuzzle video titled "Know Your Checking Account" reviews how to write a...

Question of the Day (Update): What percent of Gen Z has never written a physical check to pay a bill?

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May 25, 2020
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Question of the Day, Checking Accounts
Answer: around 33% Questions: Did this number surprise you? Why or why not? What are examples of bills that might require a physical check? As Gen Z gets older, do you expect this number to be higher or lower? Explain. Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Forbes): "Young adults are using peer-to-peer payments more than the two generations before them. That’s despite...

EdPuzzle Thursday: Banks vs Credit Unions

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May 20, 2020
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EdPuzzle Thursday, Checking Accounts
EdPuzzle is a great platform to test for knowledge while students watch a video and learn remotely. We will be releasing new EdPuzzle videos here on the blog each week so that your students can answer questions that are directly embedded within engaging videos.  This week's EdPuzzle video titled "Are Credit Unions Better Than Big Banks?" reviews the pros, cons, and fees of big banks and credit unions.       Interested in more EdPuzzle videos? Visit our Video...

Question of the Day (UPDATED): How many of the top 10 Financial Apps can you Name?

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May 19, 2020
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Question of the Day, Checking Accounts, Budgeting
Here's the leader board as of 5/17/20 (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 Forbes): As more payments take place electronically and bank branches slowly disappear,...

Question of the Day: What method of payment has seen the largest increase in the past month: Cash or Contactless Payments?

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Apr 22, 2020
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Checking Accounts, Credit Cards, Question of the Day
Answer: Contactless payments Questions:  Have you ever used “Tap to Pay” or contactless payment?  Do you think that consumers will go back to paying with cash in a few years or will they continue this trend toward contactless payments?  What do you think are the pros/cons of this specific form of payment? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Bloomberg): ...

Question of the Day: What percent of 13-17 year olds have a debit card?

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Mar 24, 2020
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Checking Accounts, Question of the Day
Answer: 40% Questions: Do you have a debit card? If so, when did you get it and what purchases do you use it for? If not, when do you plan to get one? Does it surprise you that twice as many 13-17 year olds have a debit card compared to a credit card? Which account is a debit card typically attached to? What’s the difference between a debit card and a credit card? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers...

Question of the Day [Updated]: What is the average fee to take money out of a non-network ATM?

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Mar 04, 2020
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Checking Accounts, Question of the Day, Research
Answer: $4.72 This charge includes: Your bank’s fee AND Fee charged by ATM owner Questions: Did it surprise you that the charge includes TWO different charges? Why or why not? Did you know that there is a charge for taking cash out of an out-of-network ATM? Do you think most people who use ATMs that are out-of-network are aware of this charge? Why do you think there is a charge to use an ATM that is out-of-network? Click here for the ready-to-go slides for this Question of the Day that...

Reading List for January 3-5 (2020!)

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Jan 03, 2020
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Financial Literacy, Student Loans, Stocks, Checking Accounts
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

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Dec 30, 2019
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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?

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Dec 10, 2019
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Checking Accounts, Question of the Day, Research
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

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Nov 22, 2019
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Podcasts, Investing, Savings, Checking Accounts
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...