Jan 17, 2020
Financial Literacy, Investing, Economics, Paying for College
The corporate world is trying to fill in the void in financial literacy among their employees. According to a WorldatWork survey:
“70% of the 326 employers surveyed currently offer financial well-being benefits and more than half intend to expand such offerings in 2020.”
According to FinTech Times, FinTech businesses are also feeling compelled to fill the financial literacy gap among their customers with education initiatives.
Jan 10, 2020
Employment, Economics, Investing, Paying for College
Your (Financial) Health
If you only have time to read one of these articles this week, make it this eye-opening piece from the Atlantic that digs into a research paper by economics from the St. Louis Fed on the college wealth premium—different from the income premium. (St. Louis Fed)
And then find a few minutes for this important read on how mental health issues can severely mpact your financial health. (Business Insider)
Is the Fed running out of tools to deal with a...
Dec 17, 2019
Chart of the Week, Career, Economics, Employment
From WSJ article:
Specialized job requirements have narrowed the path to the middle class that factory work once afforded. The new, more advanced manufacturing jobs pay more but don’t help workers who stopped schooling early. More than 40% of manufacturing workers have a college degree, up from 22% in 1991.
“The workers that remain do much more cognitively demanding jobs,” said David Autor, an economics professor at MIT.
Looking ahead, investments in automation will...
Dec 13, 2019
Personal Finance, Mutual Funds, Economics, Paying for College, Investing
Only one more reading list before the holidays, so we will start with Personal Finance Gift ideas!
If you are looking to add to your holiday reading list (or wish list), here are the six books the Washington Post suggests you read on personal finance.
How about gifts for kids that will teach them about money? Here is a list of ten to consider. (Yahoo Finance)
The Fed is holding interest rates where they are, and will probably keep them there. (Bankrate.com)
Dec 06, 2019
Economics, Investing, Budgeting, Paying for College, Current Events
The November jobs report beat expectations. Dive into the numbers here. (USA Today)
Does the jobs report give a complete employment picture? Forbes takes a look at the employment numbers and finds a large increase in low-quality, low-paying jobs.
"A study by the Brookings Institute, a nonprofit public policy organization that conducts research to solve problems facing society, found that a large amount of the newly created positions are “low-wage”...
Nov 29, 2019
Economics, Paying for College, Investing, Retirement, Parent Conversations
Today is the official start of the biggest retail push of the year. If you are reading this, you either have already braved the Black Friday crowds (or shopped last night), or you are giving it a pass and shopping online. In any event, the crowds are expected to be a bit less chaotic this year (CBS).
Here is a look at how online shopping and delivery are changing the world (IMO, not for the better):
The Guardian discusses everything from the explosion of warehouses to environmental impact...
Nov 06, 2019
Economics, Question of the Day, Budgeting, Purchase Decisions, Research, Mortgages
This is a good one for Economics class as it's a demonstration of supply/demand factors in the housing market. Given that the trend has been for homeowners to stay in their houses for longer periods of time, the supply of houses for sale (inventory) goes down and if new construction doesn't close that supply gap then there's a supply/demand imbalance. You can guess what happens next.
Answer: 13 years
Here's a chart showing the regions where homeowners have been in their homes the longest,...
Nov 01, 2019
Entrepreneurship, Economics, Investing, Credit Cards, Paying for College, Retirement, Financial Scams
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 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...
Oct 25, 2019
Investing, Financial Literacy, Economics, Credit Cards, Credit Scores, Career
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)
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....
Oct 11, 2019
Cryptocurrencies, Economics, Payment Types
What if the US Federal Reserve stops printing currency and minting coins, going to purely digital dollars. How would this differ from life today, where many of us never actually touch cash? How would this differ from private crypto-currencies? What role will commercial banks play in this new system? Where does the Federal Reserve Bank stand on this issue? If dollars no longer exist physically, does it change the dollar’s standing globally?
Given that the US has not yet planned...
Oct 04, 2019
Financial Literacy, Economics, Investing, Insurance, Paying for College, Retirement
Perhaps we need to solve the innumeracy problem in the US in order to make any significant gains in Financial Literacy. (WAPO)
Even if we are successful in requiring every high school student to take a personal finance class, what do we do about all of those past high school who need the same knowledge? Some suggest the responsibility fall to employers. (Pensions and Investments)
Read all about NGPF's own Yanely Espinal! (MarketWatch)
Sep 27, 2019
Paying for College, Advocacy, Economics, Investing, Personal Finance, Insurance, Checking Accounts
The Pennsylvania Senate passed a bill that would require students to take a semester-long personal finance class to graduate high school. The bill now moves to the House. The bill proposes that the credit for the class could be applied to social studies, math, business, or family and consumer science graduation requirements. (CBS-Pittsburgh)
A survey from Country Financial found that 86% of Americans think financial education should be mandatory. (LowCards)
Sep 20, 2019
Current Events, Economics, Investing, Paying for College, Career, Retirement
Here is a snapshot of the state of financial education in the US by none other than NGPF Fellows, Courtney Poquette and Kayla Bousom, along with NGPF co-founder Tim Ranzetta. (MarketWatch)
Arizona State Treasurer discusses the importance of financial education. (Personal Finance curriculum is part of the economics course Arizona high school students must pass to graduate.) (USA Today-AZ Central)
Employers are now filling the financial literacy gap with twice as many...
Aug 30, 2019
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.
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...
Aug 23, 2019
Advocacy, Economics, Investing, Retirement, Insurance, Parent Conversations, Paying for College
A variety of topics for your weekend reading ....
As Kentucky enacted a law to make personal finance a graduation requirement for High School, three Universities, with support from banks, have taken on the task of providing training for the teachers. (NK Tribune)
The world’s central bankers and top economists are gathered for the annual symposium put on by the Kansas City Fed in Jackson Hole, Wyoming. Fed Chair Jerome Powell addressed...