Category: Credit Cards

Weekend reading list (Nov.15-17)

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Nov 15, 2019
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Personal Finance, Investing, Credit Cards, Generosity, Behavioral Finance
Financial education Inspiring story of Chloe McKenzie, founder of BlackFem, and her mission to bring finance education into disadvantaged communities (OZY) Economics Never thought I would see this in my lifetime...the U.S. is now a net exporter of crude oil (Axios)  Story-telling I'm a huge fan of Morgan Housel (here's our podcast) and his weekly releases on the Collaborative Fund blog. His latest is about storytelling and he crafts five story lines that he says running through...

Throwback Tuesday QoD: How much will consumers pay in interest to credit card companies in 2019?

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Nov 11, 2019
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Credit Cards, Question of the Day, Research
Answer: $143 billion Average credit card debt of $830 billion (Experian study, 2019) multiplied by an average credit card interest rate of 17.27% (creditcards.com) Questions: Why do you think that so many Americans have credit card debt, meaning they don’t pay the full balance on their credit card statements every month? Does credit card debt carry a high or low interest rate? What ideas do you have on how you can avoid getting into credit card debt where you can't pay your balance off...

Reading List for November 8-10

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Nov 08, 2019
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Financial Literacy, Entrepreneurship, Payment Types, Credit Cards, Investing, Cryptocurrencies, Retirement
Financial and Economic Literacy People don’t know as much as they think they know about money. (Kiplinger) Teens think economics is an important subject, yet they don’t grasp key concepts even after taking an economics class. Here are some suggestions for making the education more effective. (PRNewswire) The CEO and founder of Pliquit wrote an article for Forbes encouraging banks to step in and take advantage of Gen Z’s consumption of media to fill their financial literacy...

Reading List for November 1-3

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Nov 01, 2019
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Entrepreneurship, Economics, Investing, Credit Cards, Paying for College, Retirement, Financial Scams
Entrepreneurship  An excellent retrospective on the contributions of Peter Drucker on what would have been his 100th birthday. (INC) How does owning your own business or working in the gig economy impact how your kids will view the world of work and finances? (WAPO)   Economics Economics news this week included another Federal Reserve Rate cut. What does that mean for your credit card, mortgage, etc.? (USA Today) And the October Jobs report came out today. USA Today explains the...

Reading List for October 25-27

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Oct 25, 2019
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Investing, Financial Literacy, Economics, Credit Cards, Credit Scores, Career
Investing We will start this week’s list with this mind-blowing headline: “Tesla overtake GM as most valuable automaker.” (Reuters) Comparing today’s IPO environment (the “Not-Com Bubble?”) to the “dot-com” bubble of 2000. (The Atlantic)   Financial Literacy A look at programs that bring experiential, hands-on learning about money into the classroom. (Reuters) The New York Times reviews three of the most popular personal finance books....

QoD: Order these based on which are most to least important to millennials: Instagram likes, credit scores, YouTube followers.

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Oct 16, 2019
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Question of the Day, Credit Cards, Credit Scores, Research
Hat tip to Beth Tallman for sharing this press release that led to this question of the day.    Answer: Credit Scores (59%) Instagram followers (48%) YouTube followers (40%) Here's the complete results:  Questions: Why is it important to increase your credit score?  Looking at the list in the chart above, which of these ratings/scores will have a financial impact? Why do you think that so many people would place higher value on increasing their social media likes...

QoD: For credit card users who have called customer service,._____ in 10 got a fee waived, ______ in 10 got a lower interest rate and _____ in 10 got a higher credit limit.

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Oct 06, 2019
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Credit Cards, Question of the Day, Current Events, Research
Sometimes it just takes a little initiative to save money:) Answer; 6 in 10 have gotten a fee waived before, while 3 in 10 have received a lower APR and 9 in 10 have been granted a higher credit limit.” Questions Do you feel comfortable calling customer service when you have an issue with a company? Does seeing this information about how customers save money by calling customer service make a difference in your answer to #1? Why do you think that credit card companies are so willing to...

Teacher Tips for Implementing Credit Clash OR What I learned at Credit Clash Virtual PDs

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Sep 30, 2019
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Teaching Strategies, Credit Cards, Student Loans
Since we launched Credit Clash earlier this month, we hosted several Virtual PDs with over 60 teachers. I wanted to share some highlights from those conversations: Game Takeaways Get your payments in order before opening additional lines of credit. Take into account that opening lines of credit "dings" your credit before it begins improving it. Be careful to have plenty of $ in your bank account in case of emergency [Emily Hardesty] Additional lines of credit can build your credit score, but...

QoD: Rank order these payment types from most to least used by adults: Cash, Credit Card, Debit Card

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Sep 29, 2019
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Question of the Day, Payment Types, Debit Cards, Credit Cards, Research
Thanks to Julius Prezelski for pitching this idea and pointing out a new research study from the Federal Reserve.  Answer:  Debit cards 28% Cash 26% Credit cards 23% Questions:  Does this match your experience? What purchases are you most likely to use cash? use debit cards? Do you think these answers vary based on your age? If you polled your classmates, what do you think the answer would be?  Click here for the ready-to-go slides for this Question of the Day that you...

QoD: Rank order these financial accounts from most to least prevalent for 8-14 year olds: investment account, online gaming account, credit card

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Sep 18, 2019
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Question of the Day, Credit Cards, Savings, Investing
 Answer (courtesy of T. Rowe Price survey of parents of 8-14 year olds) Questions: Which of these accounts did you have when you were 14 years old?  For #1, list the timing of when you got each account.  How do you think that kids so young are able to have a credit card? Do you think it's a good idea for someone so young to have a credit card? Explain.  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the...

Reading List for September 13-15

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Sep 13, 2019
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Current Events, Advocacy, Budgeting, Credit Cards, Investing, Insurance, Paying for College
Advocacy Many of you have seen this one, featuring a quote from BrianPage, but in case you missed it: (USA Today) "School probably didn't teach you much about money, here are 4 things you should know". A national survey by Experian of Gen Z found that 76% of them agree that a personal finance class should be offered in high school. (PRN Newswire) (CNBC) Michigan is considering legislation to allow practical math options to Algebra II, including personal finance. (thecentersquare)  ...

4 Infographics to Start the School Year

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Sep 12, 2019
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Credit Cards, Credit Scores, Investing
Infographics to start the school year September 2019   PRINTABLE INFOGRAPHICS FOR 2019-20 NGPF has partnered with Visual Capitalist to bring you a series of infographics explaining key topics in personal finance. Each one delivers personal finance concepts in a compelling way, including text to read, graphs to interpret and questions to answer. Hang these in your classroom to reinforce student...

Have you seen the new "What's New With _________?" posts?

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Aug 31, 2019
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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...

Reading List for Labor Day Weekend, 2019

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Aug 30, 2019
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Advocacy, Economics, Investing, Paying for College, Credit Cards, Retirement, Parent Conversations
The Labor Day reading list covers a range of topics, but starts off with two articles by folks well known in the FinLit community. Advocacy Annamaria Lusardi’s most recent article in Education Week discusses how transformative a personal finance class can be for a teenager, but warns that it only works if the teachers themselves are truly fluent in the content and comfortable delivering the information. Can’t disagree with that! A CNBC piece by Billy Hensley (NEFE) explains how...

Reading List for July 26-28

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Jul 26, 2019
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Financial Literacy, Career, Behavioral Finance, Credit Cards, Paying for College, Current Events
Financial Literacy Dr. Barbara O’Neil of Rutgers, known to NGPF regulars for her tireless efforts in financial education, read and digested the Government’s report on Financial Education in the news recently, and offers her key take-aways. (MoneyTalk) A study by the University of Arizona demonstrates that “emerging adults” (college years plus five post college years) with financial knowledge are more successful at “adulting,” including more successful...