Category: Credit Scores

FinCap Friday: How To Get Extra Credit

|
Nov 01, 2018
|
Credit Scores, FinCap Fridays, Credit Reports
This week your students will learn about a significant change to the credit scoring system. How will UltraFICO open the door to more borrowers? Play this week's FinCap Friday and find out: ---------------------------- Looking for more FinCap Fridays to engage your students in the current events of the day? Here are the ten others!   ...

Reading List for October 27-28

|
Oct 26, 2018
|
Economics, Investing, Credit Scores, Current Events
Economics Have real home prices entered a cyclical downturn? What does that mean? (Bloomberg) What impact is the limitation on SALT (State and Local Property Tax) deductions having on the housing market, especially in the Northeast? I’ll give you one guess. (Bloomberg) The New York Times "Upshot" takes a look the mystery of today’s low wage growth in spite of very low unemployment. NBC News examines whether people are better off economically since 2016. Unemployment is low, but...

What is All This Buzz About the Ultra FICO Score?

|
Oct 24, 2018
|
Credit Scores, Current Events
Within the last twenty-four hours, more and more news outlets and bloggers are talking about the announcement by Fair Isaac Company (FICO) that they have developed a new way to calculate credit scores. Even Good Morning America had a segment on it this morning (video embedded in the link)! The buzz is because this new method of calculating the score may help millions of people obtain credit who, based on the existing methodology, would not be able to get credit, or would certainly have to pay...

FinCap Friday: The Credit Deep Freeze

|
Sep 13, 2018
|
FinCap Fridays, Credit Reports, Current Events, Credit Scores, Policy
This week's FinCap Friday focuses on the one year anniversary of the great Equifax hack (not so great if you were one of its victims) and a new regulation to help protect the minors in your class:  New to NGPF's FinCap Friday? It's a fun way to engage your students with current events and includes: A five question Kahoot! A 90 second video providing details about the current event and explaining why it matters to students A discussion prompt Activity ideas to extend the learning...

Reading List for September 8-9

|
Sep 07, 2018
|
Paying for College, Economics, Investing, Credit Scores, Career, Current Events
We will start this week off with an interesting history of the evolution of Labor Day from the New York Times. Economics This story from MarketWatch discloses new data recently disclosed by the Urban Institute that suggests 40% of Americans struggle to pay for necessities like food and rent. Investing  This article from FORTUNE magazine discusses how socially responsible investing can yield good results and provide adequate diversification. Amazon joins Apple at the $1 Trillion market...

Question of the Day: How long does it take to establish a credit history?

|
Aug 26, 2018
|
Credit Cards, Credit Scores, Question of the Day, Research
Answer: 3-6 months Questions: What questions would you ask a stranger who wanted to borrow money from you?  Those questions match up well with what is captured in a credit report.  In your own words, what do you think a credit history is?  Why do you think it might be important? Who might be interested in your credit history?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers...

Cartoons: Why Do Credit Scores Matter?

|
Jul 19, 2018
|
Cartoons, Credit Scores, Credit Reports
Questions: Do you think credit scores should play a role in choosing a partner? Why or why not?  What do you think a credit score tells you about someone's relationship to money?  ---------------------------- Questions: Can employers request to see your credit score before they hire you?  Why do you think that employers would care about their employees' credit scores?  -------------------------- Questions: In your own words, what do you think is meant by cash flow? Why...

What I'm Reading This Weekend (June 30-July 1)

|
Jun 29, 2018
|
Personal Finance, Economics, Student Loans, Current Events, Taxes, Credit Cards, Credit Scores
Economics Here is an interesting, though depressing look at the employment trends and lack of upward mobility among workers in the lowest quartile. The markets seem to be taking the impending trade war seriously this week. Student Loans Student debt forgiveness is good news. The bad news? Forgiveness comes with a tax bill. Employers offering help repaying student loans to attract workers in a tight labor market. Personal Finance Taxes: Have you heard about the post card sized 1040? Here is...

Looking for engaging, end-of-year activities for your students? Here are 5 that will improve their financial futures!

|
May 22, 2018
|
Activities, Credit Scores, Investing, Paying for College, Student Loans
It’s that time of year again! Echoes of Alice Cooper jolt you from your bed. Schoooool’s OUT… a little while longer! You wolf down 3 cups of coffee and schlep to school. The hallways are abuzz before first period. State testing has wrapped. Sunshine and summertime beckon from just beyond, and students seem to be itching to do anything but learn. You have to summon everything in your power to keep your students engaged this deep into the waning school year. NGPF is here to...

What’s New With……Credit Management?

|
May 17, 2018
|
Identity Theft, Credit Cards, Credit Scores, Credit Reports, Mortgages
This second quarter update deals mostly with credit cards and credit scores, but we touch on managing mortgages and financial infidelity. Credit Cards/Score Ever wonder what to do with that credit card you never use? There is not necessarily one answer for all situations. Do you know exactly what happens when if you make a late credit card payment? How about what happens when you don’t pay off your credit card balance in full? This one might make you think twice about opening a joint...

Infographic: How is technology changing the credit scoring process?

|
May 16, 2018
|
Credit Scores, Credit Cards, Current Events, Research
Visual Capitalist is out with their 2nd infographic demonstrating how tech is changing the credit landscape. It highlights two major changes in the credit scoring system which are being driven by "Big Data." These tweaks increase the predictive ability of whether a consumer's will repay a loan. Here they are: 1) Trended data 2) Alternative data Questions: How is trended data and alternative data different from the current credit scoring system? Analyze three of the alternative data sources...

Question of the Day: What financial term do people Google most: a) student loans b) credit score c) credit cards?

|
Apr 10, 2018
|
Credit Cards, Credit Scores, Student Loans
Answer: Credit score Questions: Why do you think so many people are interested in learning more about credit scores? When people search "credit cards," what do you think they are hoping to learn/find?  There is about $1.5 trillion in student loans and just over $1 billion in credit card debt. Why do you think that more people are searching for credit cards compared to student loans?  Click here for the ready-to-go slides for this Question of the Day that you can...

Question of the Day: In what state do consumers have the highest credit score? 1) New Jersey 2) Minnesota 3) Arizona

|
Apr 02, 2018
|
Question of the Day, Credit Scores, Current Events, Research
Answer: Minnesota Questions:  What individual behaviors lead to high credit scores? Many of the states with high credit scores are in the upper Midwest. Why do you think this might be true?  Would you expect Minnesotans to have large credit card balances? Why or why not?  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's State of Credit): There are regional differences in...

NGPF Elite Eight (Game 4): Thursday Throwdown as #4 FICO Score Simulator battles #5 Spent

|
Mar 28, 2018
|
Credit Scores, Interactive, Budgeting, Behavioral Finance
FINAL SCORE: Spent Edges FICO Score Simulator, 35-28, in Defensive Struggle MAKE YOUR SELECTION FOR TODAY’S GAME HERE Today’s Tilt: #4 FICO Score Simulator vs. #5 Spent All but 1 of NGPF’s FINANCIAL FOUR resources have been decided. Today’s Marquis Matchup of FICO Score Simulator and Spent proves to be an absolute dogfight for the last spot in the FINANCIAL FOUR. Then, tomorrow - tune in and let your voice be heard to decide who will compete on Monday, April 2 for the...

Elite 8 (Game 2): #3 Let's Make a Mutual Fund vs. #11 A Tale of Two Credit Scores

|
Mar 26, 2018
|
Credit Scores, Investing, Index Funds
FINAL: Tale of Two Credit Scores Upsets Mutual Fund 115-74    UPDATE at 3pm PT: Tale of Two Credit Scores leads Mutual Fund 96-66   MAKE YOUR SELECTIONS FOR THIS GAME HERE Game Report: Let's Make a Mutual Fund vs. A Tale of Two Credit Scores Let's Make A Mutual Fund has all the elements to make it a championship contenda. It's fast-paced offense will get your students out of their seats learning about the Xs and Os of investing. We all know how important that is! While...