Category: Credit Cards

Financial Education Explained by Danielle: A Great Sale… But at What Price?

|
Nov 30, 2017
|
Budgeting, Behavioral Finance, Credit Scores, Credit Cards, Generosity
The holiday season is once again upon us, and accompanying it is the temptation to spend a bit more money on presents for loved ones as well as yourself. With big shopping days like Black Friday and Cyber Monday behind us, now’s a good time to reassess recent purchases we might have made in haste. Originating in the 1950’s, there is this crazy phenomenon called Black Friday (the phrase was coined in 1961), where shoppers storm stores in hopes of getting a “can’t...

Article: How Machine Learning Protects Your Credit Card Transactions

|
Nov 27, 2017
|
Article, Credit Cards, Identity Theft
How many of you have noticed those texts coming from your credit card companies to verify that a recent transaction is a valid one. Maybe, you were buying an item at a store you hadn't shopped at before or you traveled out of the state (or out of the country). Have you ever wondered how those machine learning algorithms are working in the background to help prevent credit card fraud. Wonder no more! Here's an explanation on how the fraud detection takes place (From The Week): A machine learning...

NGPF Podcast: Tim Talks To Steve Frederickson, Executive Chairman of PRA Group

|
Nov 06, 2017
|
Credit Reports, Credit Cards, Entrepreneurship, Credit Scores, Podcasts
I really enjoyed my recent conversation with Steve Frederickson of PRA Group. He just recently stepped down as CEO of PRA, a company he founded 20 years ago (Hat tip to Melissa at NGPF for connecting me with Steve) Looking back at his tenure, Steve shares the ups and downs (mostly ups!) that make entrepreneurial ventures so satisfying and so all consuming too. Steve shares that journey from developing an enduring strategy for PRA right out of the gate as a start-up, to taking the company...

Question of the Day: What percent of 18-29 olds have a credit card?

|
Oct 31, 2017
|
Credit Cards, Research, Question of the Day, Current Events
Answer (from Bankrate): 33% This is an amazing chart when one considers how young people were struggling with credit card debt as recently as a decade ago. Then the Great Recession hit in 2008 and young people saw the damage wrought by having too much debt, the CARD Act followed in 2009 which made it difficult to get a credit card before the age of 21 (unless a parent would co-sign) and habits were changed almost overnight. Now debit cards have become the predominant way to pay for young...

Finance In Our Life: What's the Catch?

|
Oct 31, 2017
|
Personal Finance, Financial Scams, Credit Cards, Investing
Laura and I were exchanging notes about recent items we received in the mail. We thought it would be a good exercise in having students figure out "What's the catch?" with these financial offers: From my mailbox (apologies for the poor photo): Questions: What is this a "special invitation for?" Who is hosting the event? What do you think they are selling? Why do you think they invite both spouses to attend? What are examples of how they are using psychological tactics to get me...

Question of the Day: What percent of Americans shop online?

|
Oct 26, 2017
|
Purchase Decisions, Credit Cards, Budgeting, Question of the Day, Chart of the Week
Answer (from Pew Research): 79% Hat tip to Danielle for coming up with this question which continues on the theme of online shopping (see recent post about Amazon accounts and teens). Here are some questions to engage your students: Do you shop online? Why or why not?  If you do shop online, how do you pay for items? If you do shop online, have you ever bought something through social media links? If so, describe the item you purchased and the influence of social media. What did you...

Retailing Trends: Amazon Making It Easier for Young People to Purchase Using Parents' Credit Card

|
Oct 25, 2017
|
Current Events, Credit Cards, Purchase Decisions, Parent Conversations, Behavioral Finance
From Washington Post (subscription): The company’s newest efforts are aimed at getting shoppers ages 13 to 17 to purchase items on its site — with approval from their parents. Teens can now log into Amazon.com using their own accounts to buy items and stream videos. Their parents, meanwhile, can approve their purchases by text message or set spending limits per order.  From a business perspective, this makes a ton of sense in developing the next generation of shoppers hooked on...

Time for Some Levity: Cartoons About Credit Cards

|
Oct 11, 2017
|
Cartoons, Identity Theft, Credit Cards
Questions: What is the main point of the cartoon? How can a person protect themselves if their credit card number is stolen? Are consumers responsible for charges made on their cards that they didn't authorize?   Questions: What point is the cartoonist making? Who is the person "under the thumb?" Who is holding them down? What are the ways that credit cards can do this to consumers?  What are ways that consumers can avoid being "under the thumb" of card companies? Questions: ...

What's the Latest in Financial Education Research?

|
Oct 03, 2017
|
Article, Personal Finance, Credit Cards, Financial Literacy, Policy
We like to bring you the most current information relating to financial education. From elementary school to college and beyond, financial education is not only a necessity, but a fundamental topic that educates students and teachers alike on how they can financially prepare for their future. Here are six recent academic journal papers from George Washington University’s online Global Financial Literacy Excellence Center that you might find helpful in thinking about your instruction: ...

Financial Education Explained by Danielle: My Credit Card Experience

|
Sep 27, 2017
|
Article, Personal Finance, Credit Cards, Credit Scores
This is my debut article for my new weekly column, Financial Education Explained by Danielle. This weekly column will feature my personal finance triumphs and tribulations, and hopefully students will be able to learn something new that they'll be able to incorporate into their lives for the better!  ... I wish my parents would have sat me down when I was in high school and explained what credit cards entailed instead of telling me “not to worry about it” until I got older. By...

Infographic: What's the History of Consumer Credit? Or How Did We Go From $0 to $12.4 Trillion in Debts?

Sep 04, 2017
|
Credit Scores, Credit Cards, Credit Reports
For those history buffs out there, I stumbled across the exhaustive infographic from Visual Capitalist (see below) that takes us all the way back to 3500 BC for the birth of consumer credit.  Questions for students: What was the purpose behind the first consumer loans? Why do you think this occupation needs access to credit? What was the level of the first maximum interest rates? How does that compare with interest rates on credit cards today? Why do you think there were higher...

For Your Listening Pleasure, The Top 10 NGPF Podcasts

|
Jul 25, 2017
|
Podcasts, Credit Scores, Credit Cards, Index Funds, Investing, Mutual Funds, Current Events, Credit Reports, Featured Teachers, Entrepreneurship
The NGPF Podcast started almost two years ago (and almost 100 podcast segments later) allowed me to “scratch my own itch.” To anyone who knows me, I love talking finance and since I was young I was always told that I had a voice (and a face) for radio. I thought why not try this “podcasting thing” and see what happens. My thinking was “How much fun would it be to reach out to interesting people, including educators, researchers, columnists, finance experts, authors,...

What is Your Favorite NGPF Resource? We Asked 12 Educators at NGPF Summer Institute And...

|
Jul 17, 2017
|
Activities, Credit Scores, Activity, Credit Cards, Investing, Stocks, Credit Reports, Generosity, Compound Interest
here is what they said. Day 1 of our July Summer Institute and we wanted to share with the community the top picks of these outstanding educators. But first, we asked them to explain a few things about this resource. Click on the link listed under Picture of Poster for educator answers to questions about their favorite resource, including: Why is this your favorite? What modifications (if any) did you make? How did the resource work in your classroom? What other feedback would you like to...

Another Step Towards A Cashless Society...

|
Jul 12, 2017
|
Payment Types, Credit Cards, Debit Cards, Current Events
VISA providing incentives to small business owners to NOT accept cash. From Denver Post: For years, mom-and-pop shops and food trucks alike have shuddered at the expense of credit card transactions. It’s not uncommon, for example, for small businesses to have minimum dollar amounts for card purchases. Some still don’t accept them at all or gently inform customers they prefer cash. Credit-card behemoth Visa launched a campaign to change that Wednesday. The campaign to go cashless — or the...

What Are People Reading on the NGPF Blog?

|
Jun 26, 2017
|
Behavioral Finance, Credit Cards, Investing, Savings, Checking Accounts, Current Events, Quizzes, Compound Interest, Cryptocurrencies, Retirement
Getting close to the end of June, so I thought it was worth checking our website analytics to see what new blog posts are garnering attention as the school year wound down in many parts of the country. Here are the top 5: What is Bitcoin and How Does Cryptocurrency Work?: A Primer; NGPF’s newest team member, Hari Vasu-Devan tackled this challenging topic by providing educators with information they can access when the inevitable student query comes, “Should I be investing in...

Search The Blog

Categories