Sep 18, 2020
Advocacy, Financial Literacy, Economics, Investing, Student Loans
Carly Urban’s latest research paper is now available. Download the paper or the brief.
“This paper and brief, authored by Jeremy Burke, J. Michael Collins, and Carly Urban, estimates the causal effect of required high school ﬁnancial education on the ﬁnancial well-being of young adults.”
New home construction slows in August, particularly multi-family construction. (MarketWatch)
August retail sales...
Sep 11, 2020
Podcasts, Behavioral Finance, Investing, Index Funds
Morgan Housel is back for an encore performance on the NGPF Podcast to talk about his new book, The Psychology of Money. Morgan has that rare talent of making financial lessons memorable through incredible storytelling that weaves in history, psychology, sociology and even medicine. In fact, his book is a compilation of 19 of his favorite stories. Listen to this podcast and learn about his creative process, his favorite stories and the money lessons they teach and COVID-19's long-term impact on...
Sep 11, 2020
Economics, Investing, Credit Reports, Paying for College
A majority of young adults (52%) live with parents for the first time since the Great Depression (graph at bottom of post). (Pew Research)
Real Estate: “Booming” Zoom towns and “Gloomy” urban rental markets. The statistic above may explain some of the “gloom.” You will find some interesting statistics in this one. (NPR)
Unemployment: New jobless claims settle down at a still, unprecedented rate of 884,000. And 839,000 applied for the Pandemic...
Sep 04, 2020
Financial Literacy, Economics, Investing
The National Financial Educators Council jumps on bandwagon with a petition calling for nationwide comprehensive financial education to be delivered in high school.
Experts from the Economist answer questions about the pandemic and impact of stimulus measures in the US. (Warning, these experts necessarily discuss politics but in a neural, factual sense.)
Government debt will surpass GDP for the first time since 1946 (WWII)! (NPR)
The payroll tax deferment...
Sep 01, 2020
Question of the Day, Investing
Why do you think these investors made no trades in a year? Do you think that's a positive or a negative for investors?
Would it surprise you that researchers have found that the more investors trade stocks the more likely they are to lose money?
Why do you think men, on average, trade more frequently than women?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (FINRA survey):...
Aug 28, 2020
Investing, Economics, Current Events
Wow, the end of August is here! (Not quite sure if I should add "already" or "finally" to the end of that sentence.) This week we have something for everyone, plus lots of Economic News.
Big news this week is the shake up on the Dow, triggered in part by Apple’s 4 for 1 stock split. Read about who is now in and who is now out! (There will be no more tigers in the Dow “tank”) This is such big news, I leave you three options for the details! (CNBC) (WAPO)...
Aug 21, 2020
Financial Literacy, Economics, Investing, Taxes, Insurance, Paying for College
Charles Schwab released its Financial Literacy Survey. Here are the highlights:
On a scale of 1-100, Americans rated money management (62.9) as the most important skill for kids to learn, edging out the dangers of drugs and alcohol (60.5), healthy eating and exercise habits (58.3), and safe driving practices (57).
Technology (FinTech) could develop in a way to further divide the financially vulnerable from everyone else, or it could be developed in a way to...
Aug 14, 2020
Podcasts, Investing, Stocks
Jack is a repeat guest on the podcast. He's currently a student at East Greenwich High School in Rhode Island. When we last spoke with Jack earlier this year he was advocating for financial education alongside Treasurer Magaziner. In this podcast, Jack discusses his work this summer leading a group of students through a series of investing lessons. Well, that's what I thought we were going to talk about. Instead our conversation took a detour as we talked about the speculative nature of today's...
Aug 14, 2020
Advocacy, Personal Finance, Economics, Investing
No surprise here, but nice statistics to quote when advocating for financial literacy education. An NFEC survey found that 85% of Americans agree that high school students should take a personal finance class in high school. PR Newswire NFEC
The Cities for Financial Empowerment Fund is establishing one-on-one financial counseling and assistance to those in need in over 50 counties and cities to help people navigate through the pandemic. (PR Newswire)
Aug 07, 2020
Personal Finance, Economics, Investing, Paying for College, Financial Scams
This one got some press: The Cincinnati Bengals reports that top draft pick, Joe Burrow, plans to live off of his endorsement income (not too shabby), and bank (invest?) his $23.9 million signing bonus as well as his $36.2 million four-year contract. (BengalsWire)
But for 59% of young Americans, Millennials and Gen Z, the pandemic has totally derailed their financial lives. (USA Today)
Economics in the times of Covid
The July unemployment rate dropped to...
Aug 05, 2020
EdPuzzle Thursday, Current Events, Investing
EdPuzzle is a great platform to test for knowledge while students watch a video and learn remotely. We will be releasing new EdPuzzle videos here on the blog each week so that your students can answer questions that are directly embedded within engaging videos. In light of the current pandemic, we will also be adding current event videos from Two Cents when relevant. So, on Thursday over the next few weeks, look for a combination of unit specific and current event EdPuzzle videos!
Jul 31, 2020
Economics, Investing, Stocks, Paying for College, Retirement
There was so much relevant news this week, this list runs a bit long, but it is sure to have something you will find interesting!
The Federal Reserve met this week and left interest rates unchanged (near zero). Dow jumps 150 points. (Forbes)
Far and away the biggest economic news this week was the historic annualized drop of 32.9% in the second quarter. (Note: add this example to your lesson on compounding.) Did one-third of the economy disappear in the second...
Jul 30, 2020
Investing, Stocks, Retirement, Current Events
This update is dominated by the impact Covid-19 has had on the investing this year.
Why is the stock market, after initial chaos at the beginning of the pandemic, not reflecting the downturn in the economy? What should investors consider in terms of diversifying, rebalancing, and retirement savings? And what about gold?
The NYSE president explained at the end of May that the “market” as represented by the S&P 500 or Dow Jones Industrial Index is a) forward looking...
Jul 24, 2020
Economics, Current Events, Investing
Economics of the Pandemic
New jobless claims increased this past week to over 1.4 million (1.3 million last week), stopping a 15-week decline. The biggest jumps were in the states where Covid is spiking. This is the 18th week with new jobless claims over one million. (CBS) (Yahoo Finance)
Gig workers who cobble together multiple jobs to make ends meet are often ineligible for unemployment insurance when work dries up. (NYT)
The Federal moratorium on eviction of renters expires today, along with...
Jul 17, 2020
Current Events, Personal Finance, Investing, Economics
Personal Finance/Managing Credit
How many of you actually balance your checkbook these days? Emily Guy Birken wrote an article for Forbes explaining how to and why you should balance your checkbook in this digital age.
The CFPB examines “credit builder loans” and determines them to be a good way to help consumers build credit. (My Ches Co)
FICO unveils a new “resilience score,” which looks at different elements of a person’s credit history (beyond the credit...