Reading List for January 14-16
Banking
Another bank (Capital One) drops overdraft fees. Here is the latest on this topic. (NPR)
Economics
December CPI was released on Wednesday and came in at 7% over the previous year. (AP) (CNBC)
What will these inflation numbers mean for fed rate hikes? Here is the Goldman Sachs prediction. (CNBC)
And what is the Fed’s take on inflation? Powell testified before Congress this week (CNBC), and Lael Brainard discussed inflation in her Senate confirmation hearing this week as...
NGPF Best of 2021: Most Visited Unit Pages
By Tim Ranzetta
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Dec 19, 2021
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Savings, Budgeting, Investing, Checking Accounts, Taxes, Credit Cards, Credit Scores, Career, Paying for College
Wondering what topics garner the most page views on the NGPF website? Taxes took the top spot this year dethroning Checking which held the top spot for several years. The curriculum team updates the taxes unit each year to reflect new tax tables and changes to the tax code. Here's the plan for 2022.
The Unit Pages are accessible by clicking these images on the home page:
Why are these pages the most popular on the website?
Educators see all NGPF resources on a given topic (unit) on...
Question of the Day: What did people use as payment most in 2020: credit card, cash, or mobile wallet?
Answer: Credit Card with 38% of transactions
Payment types at point of sale (POS) in the United States in 2020
Questions:
What are some of the factors you personally think about before deciding how to pay for something?
What would be examples of electronic payments? Are any of you using your checking account to make online payments?
How do you think the usage of mobile payments has changed since last year? Why?
Click here for the ready-to-go slides for this Question of the Day that you...
Question of the Day: Rank order these payment types from most to least popular with consumers: cash, debit card and credit card.
Answer: Debit card, credit card, cash
From Federal Reserve of Atlanta:
Note: Results from 2009 through 2014 are based on the American Life Panel; 2015 through 2020 results are based on the UnderstandingAmerica Study panel. OBBP stands for online banking bill payment; BANP stands for bank account number payment.Source: 2009–20 Surveys of Consumer Payment Choice
Questions:
How do you typically pay for things today? Why do you use that method?
Summarize changes that have occurred between...
Top 5 Interactives Posts: Summer 2021
By Brian Page
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Sep 29, 2021
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Interactive, Behavioral Finance, Budgeting, Career, Checking Accounts, Insurance, Savings
Each week on the NGPF blog, we highlight a new, engaging interactive. In each of these posts, we summarize the interactive, provide suggestions for classroom discussion, and include a complementary NGPF student activity or teacher professional development opportunity on the topic.
Here are the 5 most popular interactive posts from the summer of 2021:
#1 Dark Patterns At Work: Do you ever feel like you are being manipulated on websites? Unfortunately, dark patterns are all too...
Question of the Day: What's the top financial app in the App Store: Venmo, Cash App or PayPal?
Answer: Cash App
From App Annie (9/24/21):
Questions:
Why do you think these person-to-person apps are so popular (top 3 on the list)? When do you think people find these apps most useful?
Do you have any finance apps on your phone? Why or why not?
What do you think are the most important criteria in choosing which finance apps to use?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the...
Interactive: Let's Choose A Bank
Hat Tip to Dr. Barbara O'Neill who shared this Interactive Bank Comparison Tool on social media.
This drag and drop tool is intuitive to use while illustrating common bank and credit union services and fees. Since there are only 12 different credit unions and banks included in this interactive, it's not likely that your students would find their bank. However, it can still be an engaging hook as students comparison shop for banks and learn what fees and services are most important to...
Question of the Day: What percent of Gen Z use a mobile banking app?
Answer: 99%
Here's how they use their mobile banking apps:
Questions:
Do you have a mobile banking app? Why or why not?
What features are you using/would you plan to use when it comes to a mobile banking app?
Are there other mobile financial apps that you use?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (CNBC):
"Mobile banking is a convenient way to manage your money on...
Reading List for August 27-29
By Beth Tallman
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Aug 27, 2021
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Current Events, Economics, Cryptocurrencies, Budgeting, Behavioral Finance, Checking Accounts
Banking
Curious about how banks are doing with overdraft fees? Overdraft fees dropped during the pandemic in 2020, but have jumped back up 40% over a year ago. (BankingDive).
Budgeting/Behavioral Finance
Ally Bank survey shows about half of adults are not talking discussing finances with their partner and launched a program to try to address this. PRNewsWire
Tik-Tok partners with Shopify to add in-app purchase link. Sounds like a dangerous development for users susceptible to FOMO and...
Question of the Day: What percent of Gen Zers are comfortable downloading a bank’s app to open an account with them?
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Answer: 49%
Questions:
If you currently have a bank account, how did you open it?
Are you comfortable downloading an app to open a bank account? Why or why not?
How many questions would you be willing to answer to open the account before you would abandon the...
What's New With Banking (2021)
This is the first of the 2021 “What’s New With…” series. As I began my research for the series, a common theme emerged. The Pandemic has altered, perhaps permanently, many aspects of our financial lives. In terms of banking, the pandemic really accelerated three trends:
Accelerated movement along the continuum from in-person banking to online banking to use of banks’ mobile apps;
Proliferation and growth of digital-only banks (challenger banks) competing...
Question of the Day [LGBTQIA+ Pride Month]: What action does ""Bad with Money"" podcast host Gaby Dunn recommend to better your financial habits?
Answer: "Go through your bank statements!"
Questions:
What are bank statements and what can you learn from them?
Like Gaby Dunn, have you ever kept track of your spending habits and transactions? How did you feel when reviewing them?
What are other actions could you recommend to a friend who wants to better their financial habits
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 (Update): How quickly do you need to report a stolen debit card to get all your money back?
Answer from Federal Trade Commission: Before any unauthorized charges are made.
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 your monthly statement is mailed to you?
Click here for...
Question of the Day (Updated): What percent of branch banks offer "free" student checking accounts?
Answer:
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 the 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 Day that you can use in your classroom.
Behind the numbers (WalletHub):
Student checking accounts, which...
Interactive: Laws on Minor Bank Accounts by State
I didn’t spend much time considering the implications of payroll card fees until five or six years ago when one of my students showed me that she had spent over $50 in three months to access her own money and check her account balance. This is significant for a kid earning minimum wage and trying to help her mother pay the bills. She wanted a bank account, but her mother was unbanked. Have a look at some of the fees that payroll cards might charge, taking the E1 Visa® Payroll Card as...
