Apr 05, 2020
Question of the Day, Savings, Behavioral Finance, Parent Conversations, Investing, Credit Cards
Answer: Pay down debt
Here's a summary of their responses:
How do you think YOU would handle a lump sum payment of several hundred dollars NOW?
Why do you think people answer this question with such different responses?
What is the importance of having an emergency savings fund now?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (USA Today)
Millions of workers and their families will...
Jan 17, 2020
Parent Conversations, Podcasts, Contest Previous
In this NGPF podcast two part series, you will hear from 11 inspiring high schoolers from across the U.S. who were the national winners of the PAYBACK Challenge essay contest. Each will receive $5,000 towards their educational expenses. Each shared what they learned from paying PAYBACK, how it has impacted their college plans and the importance of personal finance in their lives. Student voice matters and these students certainly providing convincing evidence of the benefit of personal...
Dec 02, 2019
Behavioral Finance, Question of the Day, Budgeting, Parent Conversations, Purchase Decisions
_______ of consumers with retail (store) charge card regret their decision to apply for this card. This may be explained by the fact that ___________ still have not paid back their charges from the 2018 holiday season.
Have you (or someone you know) ever been asked when shopping at a store whether you wanted to open a store credit card?
How does the cashier try and encourage the shopper to sign up?
Why do you think so many cardholders regret their decision to apply...
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...
Sep 24, 2019
Thanks to 2019 Fellow, Laura Schoenike, for sharing this great practice as October 1st is just a week away!
In case you missed it, yesterday was the last day of summer 2019! And in case your daily grind and social media pics haven’t reminded you enough...back to school season is in full force! Something that families in my district LOVE, is keeping tabs on what their students have been up to in class. One way I accomplish keeping...
Sep 16, 2019
Parent Conversations, Question of the Day, Personal Finance
When you you hope to become financially independent? What do you think it means to be "financially independent?"
Why do you think the younger generation is more optimistic about when they will become financially independent?
When do you think you will be able to do the following?
a) Pay for your own streaming service?
b) File your own taxes?
c) Pay for your own health insurance
d) Start saving for retirement and investing?
Click here for the ready-to-go...
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...
Aug 16, 2019
Financial Scams, Identity Theft, Parent Conversations
For College Students
Once students turn eighteen, they are legally adults. Their parents no longer have a say in their health care or legal decisions (or grades—unless you and your student sign a Family Educational Rights and Privacy Act (FERPA) waiver.) So what happens if the student has a medical or financial emergency? An article from Kiplinger has been gaining traction as it advises families to get four legal documents in place when a child turns 18. Many are documents that are...
Aug 16, 2019
Current Events, Parent Conversations, Paying for College, Investing, Economics, Retirement, Student Loans, Financial Scams, Insurance
As your former students or maybe your own children are heading off to college for the first time, here is some sage advice for them.
Having taught at a college for several years, and living amongst the students for even longer, I cannot agree more with the tips offered by a college professor in this MarketWatch article, like show up for class, turn off the phone, and go to office hours! I like the cartoons too!
And here is one for the parents. Once your child turns 18, their...
Aug 02, 2019
Current Events, Economics, Career, Investing, Paying for College, Parent Conversations
Captial One Data Breach
What you need to know about the Capital One data breach. A hacker obtained information on 100 million customer accounts across the US and Canada. Choose your source below for the facts and what to do about it if you are a victim.
From Capital One.
From Consumer Reports
From the New York Times
Fed Rate Cut
Historic rate cut: the Fed announced a 25 basis point drop in the target interest rate on Wednesday, the first drop since 2008! For an explanation of...
Jun 14, 2019
Career, Investing, Credit Scores, Cryptocurrencies, Financial Literacy, Parent Conversations
Here is a fun one! Take a look at these wacky job titles. It might be fun to have your students guess what each one might mean! (Indeed.com)
Forbes provides another list – this time it is the best employer in each state. Can you guess the best employer for your state? (Forbes)
This article explains how smart use of a secured credit card can help you build or boost your credit score. Now Amazon is getting into this game. (NYT)
"The Financial Health Network...
Jun 07, 2019
Financial Literacy, Parent Conversations, Credit Cards, Investing, Paying for College
In case you didn’t see this in your social media feed this past week, here is the NYT financial checklist for kids heading off to college by Ron Lieber.
Deloitte released the results of a study measuring the net worth of millennials (aged 18-35) and found that it dropped 34% from 1996 levels. Education cost increases may be largely to blame. (Yahoo)
On a related note, lack of wealth is one reason millennials are delaying marriage, but they...
May 27, 2019
NGPF Fellows, Personal Finance, Parent Conversations
The following blog post comes courtesy of NGPF Fellow, Brenda Martin-Lee of Seneca High School in Tabernacle, NJ.
How-to of the event: It was very informal. I actually interjected myself into an existing event at the local library. It was a Game Night event where parents and students were attending. The number in attendance was around ten. I presented Ten Financial Principles to get the audience thinking about how they are currently managing finances and to hopefully take some of the...
May 17, 2019
Financial Literacy, Economics, Investing, Parent Conversations, Career, Current Events
New GFLEC study was released and teachers support mandated personal finance. (PRN Newswire)
Tony Isola gives his take on the likely success (or lack of it) of mandated personal finance classes. The issue is not with the concept or the teachers…it is more about the structure of schools.
The Higher Ed headlines move from Varsity Blues to SATs new score. An “Adversity Score” being added to SAT scores. The student won’t know what...