Question of the Day: A picture of a pair of eyes was placed above a donation box. Did donations increase or decrease?
Answer: Increased by 80%
Questions:
What do you think are reasons that people donate to causes like a children’s museum?
Why do you think that donations rose when a pair of eyes were placed about the donation box?
Have you ever done something with money that you normally would not have done because someone was watching (e.g., leave a larger tip, donate to a charity)
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom....
Question of the Day: What percent of Americans donated time, money, or helped a stranger in 2017?
Answer: 56%
Questions:
Have you ever volunteered, donated money, or helped a stranger?
What did you do?
How did the experience make you feel?
Why do you think people feel good after donating time or money even if they know they’re not going to receive anything in return?
What are some ways you can be charitable in your town or city?
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: How much does the retail price for roses increase around Valentine's Day?
Answer: About 100%
Questions:
What economic concept helps to explains this surge in pricing?
What other examples of items/services can you think of that have prices that change based on demand?
What challenges do you think rose growers encounter around Valentine's Day?
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 Reuters):
At Reuters’ request, BloomNation examined the prices of...
What I'm Reading This Weekend (1/27-1/28)
By Beth Tallman
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Jan 26, 2018
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Current Events, Purchase Decisions, Generosity, Behavioral Finance, Investing, Article, Index Funds, Research
Thanks to Beth for curating another great set of articles to make us smarter about personal finance. Enjoy!
Personal Finance/Financial Capability
NYT Your Money Advisor Anna Carrns filed this report summarizing the 2017 Financial Report Card from John Pelletier at Champlain College’s Center for Financial Literacy. Are you from one of the five states that received an A: Alabama, Missouri, Tennessee, Utah and Virginia? It was reassuring to see that NextGen Personal Finance was...
Financial Education Explained by Danielle: A Great Sale… But at What Price?
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Nov 30, 2017
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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...
Guest Post: Giving Thanks for Giving in Personal Finance
Nov 21, 2017
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Generosity, Activities, Teaching Strategies, Budgeting, Parent Conversations
Thanks to NGPF Fellow Kerri Herrild of De Pere High School (De Pere, Wisconsin) for taking a chance on this new project and sharing it with the broader community:
I am excited to share a powerful project that my Personal Finance students recently completed. Students were introduced to the concepts of charitable donations using the NGPF unit on philanthropy. They were then assigned The Giving Project in which they were to research a charity that was meaningful to them and create...
How To Manage Your Spending Habits
One of our NGPF team members recently discovered this New York Times article about different saving habits that people have developed over the years. NGPF is a big proponent of matters regarding personal finance, and so we thought we’d share this article, which is full of very helpful saving advice, with you. Financial education starts in the home, and it begins with developing good spending and savings habits.
One of the best—and in my opinion, most mindful—saving habits from...
Millennials and the Future of Sustainable Investing
Generation Y, a.k.a. Millennials, are the largest generation on the planet right now since the Baby Boomers. Their spending and investment habits are becoming more predictable with most arrows pointing to an increase in sustainable investing.
Recently, a Visual Capitalist article published a study that found that investments in social change issues have risen by 33% in the last two years--mainly thanks to Millennials. Perhaps this escalation in sustainable investing can be attributed to a...
Top 5 on NGPF Blog
By Tim Ranzetta
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Sep 18, 2017
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Generosity, Identity Theft, Career, Economics, Employment, Compound Interest, Entrepreneurship
Here are the recent posts that have been attracting the most eyeballs:
Steal of the Century: Equifax Hacked
Looking for more on this event? Check out this list of links I came across today.
Let's Pick A Side Hustle
Infographic listing 25 "side hustles" which can make for an interesting classroom discussion
How to Set Up A Mock Career Fair in Your School
The NGPF team participated in this event at Carlmont High School in Belmont, CA. Thanks for John Rowe for inviting us into the...
Looking to Help Those Impacted By Harvey? Be Sure To Do The Research!
In the wake of Hurricane Harvey, the nation has marveled at the heroic acts on the ground by first responders and citizen flotillas alike, who worked 24/7 on rescue missions. In the aftermath of Harvey, we have seen an outpouring of generosity as Americans rally together to help the tens of thousands of victims who have lost their belongings, family, and livelihoods to the storm. Unfortunately, as often happens in crises like this, there are opportunists seeking to take advantage of the...
What is Your Favorite NGPF Resource? We Asked 12 Educators at NGPF Summer Institute And...
By Tim Ranzetta
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Jul 17, 2017
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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...
Question: When It Comes To Giving, Is It Better To Give Time or Money?
By Tim Ranzetta
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Dec 15, 2016
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Generosity, Behavioral Finance, Question of the Day, Research, Current Events, Video Resource
From WSJ (subscription):
It’s the holiday season; a time when many open their checkbooks (or go online to make payments) to support their favorite charities. Researchers have found three mistakes commonly made by charitably minded people:
Martyrdom effect: “One of the biggest errors people make involves a phenomenon that one of us, Dr. Olivola, calls the “martyrdom effect”—the tendency to prefer forms of giving that involve significant sacrifice and effort, such as running...
Question: Experiences or Things? What Do You Enjoy More?
By Tim Ranzetta
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Dec 12, 2016
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Purchase Decisions, Behavioral Finance, Question of the Day, Research, Teaching Strategies, Current Events, Article, Generosity, Writing assignment
This question seems apropos given the holiday season and is a great discussion starter. Ask your students to think about the 2-3 items that they purchased in the last year that they were (and continue to be) most excited about. Would they be classified as experiences or things?
This very accessible and relatively short (914 words or about 5 minutes) Scientific American article provides some scientific research to support one purchase type over the other (bold type are my own):
A lot of...
Video: What Does It Take to Be An Effective Altruist?
Sorry, but on a roll now with this theme of charitable giving (check out this podcast with Eileen Heisman, leader in the world of philanthropy). Here is a thought-provoking TED video with Peter Singer, ethicist from Princeton (Warning: the first 1:30 of this 17 minute video involves a car accident involving a young child is extremely difficult to watch for many reasons) :
What do I like about the video?
He addresses head-on many objections that people have to giving:
How much of a...
NGPF Podcast: Tim Talks to Eileen Heisman about Effective Philanthropy
A big thank you to Eileen Heisman, President and CEO of the National Philanthropic Trust (NPT), for the great conversation we had recently on the podcast. Eileen heads one of the largest grant-making organizations in the United States and is a perennial pick on those “most influential” lists you see in the world of philanthropy. Eileen’s perspectives on charitable giving are informed from her decades of service as an educator, non-profit board member, entrepreneur and leader...
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