Category: Credit Cards

5 Resources to Celebrate National Consumer Protection Week

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Mar 05, 2021
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Interactive, Credit Cards, Financial Scams
This week reminds us of the importance of equipping our students with the strategies and tools they need to protect themselves. Here are five of my favorite resources to do just that with your students: #1 INTERACTIVE (Game): Shady Sam Welcome your students to their first day of work at Shady Sam's, where their job is to make as much money as possible off the backs of hard-working Americans. How? By issuing loans that make a hefty profit.  #2 FULL LESSON: Identity Theft Identify different...

Best of 2020: Most Visited NGPF Unit Pages

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Dec 23, 2020
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FinCap Friday, Credit Cards, Credit Reports, Investing, Math, Credit Scores, Savings, Paying for College
Our Unit Pages are the most visited pages on the NGPF website, which had over 5 million pageviews in 2020. Why are these pages so popular? Teachers tell us it's because they can see all NGPF resources on a given topic (unit) on ONE page. So, whether you are looking for 45 or 90 minute lessons or just individual resources (activities, projects, FinCap Fridays, questions of the day, case studies or math activities), you can find them on the unit page.  Here were the unit pages that...

Question of the Day: $750 Playstation 5 Bundle on credit...If you make the minimum payments, how long before this credit card bill is paid off?

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Dec 14, 2020
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Question of the Day, Credit Cards
Answer: 5 Years and 9 Months   Questions: Considering the cost of this Playstation 5 Bundle, do you think this is a good idea? Explain your answer. What big-ticket items or once-in-a-lifetime experiences do you think are worth spending money on? How could you reduce the amount of time required to pay off this credit card bill? 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...

Question of the Day (Updated): How many credit cards does the average Gen Z have?

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Dec 07, 2020
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Question of the Day, Credit Cards
Answer: 1.8 Questions: Do you have/plan to have a credit card before you turn 21? Why or why not? Do you think it is easier/more difficult to get a credit card when you are young? What are two major differences between a debit card and a credit card? What do you think is the ideal number of credit cards to have? 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 Experian) "In the...

My 9 Favorite Interactives to Teach Credit

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Nov 18, 2020
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Interactive, Credit Cards, Credit Scores
Here is my current ranked list of my favorite credit interactives that could be used in our Managing Credit or Types of Credit units.  #1 INTERACTIVE: Shady Sam: This is our existing companion handout to the engaging and easy to play credit game Shady Sam.  #2 INTERACTIVE: FICO Credit Scores: This is our existing virtual adaptation companion handout to the wildly popular FICO Credit Score Simulator.  #3 INTERACTIVE: Play the Credit-Score Game. We used pieces of the WSJ interactive...

Question of the Day: You purchase a new TV with a store card offering 0% APR (pay no interest) for 18 months. What happens if you don't pay in full within 18 months?

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Nov 18, 2020
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Question of the Day, Credit Cards, Research
Answer: 53% of store cards have deferred interest features meaning you will pay interest going back to the date of the purchase which can be quite costly.   Questions: Black Friday is right around the corner..why do you think these 0% APR offers are so popular at this time of the year?  How often do you think consumers forget to pay off the full balance and get hit with these deferred interest surprises?  Do you think offers like are a good idea for consumers? Why or why...

5 Resources to Decipher the U.S. Debt Clock

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Nov 10, 2020
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Interactive, Student Loans, Credit Cards, Economics
The U.S. Debt Clock illustrates our soaring debt by the second. As sobering as it is, it can serve as a springboard into multiple personal finance topics.  Student loan debt By the time readers are engaging with this article, our national student loan debt may have surpassed $1.7 trillion. Use this to ignite a discussion and select one of these three interactives to extend their learning. Credit card debt American consumer credit card debt is approaching $1 trillion, and I have to wonder,...

Question of the Day (Updated): What percentage of adults have carried credit card debt in the past year?

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Oct 12, 2020
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Question of the Day, Credit Cards
Answer: 52% of families held credit card debt in 2019 Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.   From the Federal Reserve Board: "In people’s financial lives, credit cards can serve different functions at different times. For people who pay their balances off each month, credit cards are mainly a form of payment convenience and can be thought of more or less the same as using cash. For those who carry a balance,...

Reading List for October 9-11

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Oct 09, 2020
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Economics, Investing, Credit Cards, Paying for College
Economy Jobless claims over 800,000 last week. (Yahoo Finance) (Graph below) “Last hired, first fired? Employment losses across age groups.” It is not a pretty picture for young workers. (FRED) If you ever wanted to live in NY, it hasn’t been this cheap to rent an apartment in Manhattan since 2013! (Bloomberg) On the other hand, Denver is a hot real estate market. (CNBC)   Investing On one hand: Warren Buffet values dividends. (USA Today) And on the other hand: Investor...

Question of the Day (Updated): What percent of Americans who have credit card debt won't be able to pay it off within a year?

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Sep 08, 2020
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Question of the Day, Credit Cards
Answer: 70% Questions: What do you think keeps so many Americans from paying off their credit card bill every month? Many who don’t pay their credit card bill every month will just pay the minimum (or about 3% of what they owe). Is that a good strategy? Why or why not? Why is it so important not to carry credit card debt month to month? What advice would you offer to a friend who’s trying to pay down their credit card bill while still managing their other expenses? Click here for...

Question of the Day (Update): What is #1 reason that people give for paying their credit card bill late?

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Aug 31, 2020
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Question of the Day, Credit Cards
Answer: 44% Forgot to make the payment Questions: Why do you think that so many people forget to pay their credit card bill?  What do you think are some of the consequences of not paying your bill on time?  What are steps that you can take so you are not one of those "forgetful" people who don't pay their bills on time?  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):...

Question of the Day (Updated): What percent of 8-14 year olds have a credit card?

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Aug 24, 2020
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Question of the Day, Credit Cards
Answer: 17% "The idea of a child as young as 8-years-old having so much spending power in their pocket may seem absurd to some. But Stuart Ritter, a certified financial planner at T. Rowe Price, isn’t surprised or alarmed by the survey findings. He says it’s all about knowing your son or daughter and preparing them for the responsibility of having a card, if you believe they’re ready for one." Questions: Did you know that you could get a credit card as a child? What do you...

Virtual Adaptation - PLAY: Should They Open a Credit Card?

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Aug 24, 2020
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Teaching Remotely, Credit Cards, Video Resource
In the activity PLAY: Should They Open a Credit Card, students will analyze the profiles of a few different individuals and determine whether opening a credit card is a smart choice for them. 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 and asynchronous virtual learning environment.   Synchronous Environment Ideas: Display the scenario slide and put students into small group breakout...

Question of the Day: Can you name one of the top five money mistakes that millennials made while in college?

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Aug 23, 2020
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Question of the Day, Paying for College, Credit Cards, Credit Scores
Answer: Questions: Given that the average college graduate leaves school with about $30,000 in debt, does it surprise you that 9 out of 10 who borrow don't understand the terms of their loans?  Which of the items above could be mistakes made by young people who don't go to college?  What concrete steps can you take to avoid making similar mistakes?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (College...

Question of the Day: What was the impact of coronavirus on credit card balances in April-June quarter this year? a) Increase in balances b) Decrease in balances c) No change

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Aug 18, 2020
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Credit Cards, Question of the Day
Answer: Decrease in balances Questions What do you think were the causes of this decline in credit card balances? What are the benefits of paying down your credit card balances?  Where do you think the credit card bill ranks when it comes to paying down other recurring monthly bills (rent/mortgage, car payment, utilities, smartphone) when money is tight?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (NY...