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...
Tech Tool Review: MyKidsBank.org
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Jun 05, 2018
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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?
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May 17, 2018
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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?
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?
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
By Tim Ranzetta
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Mar 27, 2018
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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)
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?
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...
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