Category: Parent Conversations

Interactive: Auto Insurance Comparison Shopping

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Jun 29, 2017
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Insurance, Activity, Research, Current Events, Activities, Parent Conversations, Interactive
Hat tip to Talitha Oliveri for pointing out this auto insurance comparison site (we had been looking for one like this for years that didn’t require setting up an account!!!). Your students are required to enter the following information, which will help them understand the factors that impact insurance rates, and they receive actual quotes from leading insurance companies: Car information Type of car Leased vs. financed Purpose of vehicle Miles driven Anti-theft device (yes/no) ...

Podcast: How Can I Use Money Effectively To Promote My Happiness?

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May 26, 2017
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Behavioral Finance, Research, Current Events, Audio Resource, Parent Conversations, Podcasts
I thought you would enjoy this Meg Faber podcast while you were on one of those long summer drives with your family. It could lead to some great conversation too! Lots of thought-provoking wisdom from Elizabeth Dunn, co-author of the 2014 best-seller Happy Money: The Science of Happier Spending. In the podcast, she discusses new research into behavioral finance that she summarizes into five core principles that may make you think differently about how money can “buy” happiness: ...

Question: How Much Does It Cost to Raise A Child Born in 2015?

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Jan 10, 2017
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Budgeting, Research, Current Events, Parent Conversations
Hat tip to Brian Page educator (and podcast guest) at Reading High School (Reading, Ohio) for tipping me off to this USDA Report. Answer (you better thank your parents): $233,610 Full explanation of that figure: The estimated expense to raise a child from birth through age 17 is $233,610 (in 2015 dollars) for a middle-income (before-tax income between $59,200 and $107,400), married-couple family with two children. Oh, but it doesn’t include college costs, per the report:...

NGPF: Tim Talks to Pat Page, Award-Winning Educator and Passionate Advocate for Financial Education

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Nov 29, 2016
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Podcasts, Credit Cards, Schools In News, Current Events, Audio Resource, Excel activities, Parent Conversations, Entrepreneurship
  Thanks to Pat Page for the great conversation we recently had on the NGPF podcast. Pat shared her insights and expertise on many topics that financial educators will find helpful. You will learn about Pat’s approach to using technology in her classroom, teaching spreadsheets, using pithy phrases to focus student attention and telling stories that bring financial topics to life. You will also hear the inspiring story of how a group of students at her high school lobbied the Rhode Island...

Two Charts That Prove We Need To Teach Financial Aid in HIGH SCHOOL!

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Nov 14, 2016
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Paying for College, Policy, Research, Student Loans, Chart of the Week, Parent Conversations
From GFLEC Policy Brief on Student Loans: To summarize, 54% of students didn’t know the monthly payments associated with the student loans that they were taking out and 53% indicated that would make a change to their decision about taking out loans. High school educators please take this incredible opportunity to educate your students about financial aid and how to pay for college. Ensure that your students don’t regret decisions they made because no one provided them the...

NGPF Podcast: Tim Talks To Case Study Enthusiast, Kathleen Brennan of Mount Saint Mary Academy (Watchung, NJ)

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Sep 20, 2016
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Case Study, Behavioral Finance, Paying for College, Teaching Strategies, Audio Resource, Professional Development, Parent Conversations, Podcasts, Tips for Teachers
Thank you to Kathleen Brennan of Mount Saint Mary Academy (Watchung, NJ) for participating in the NGPF Podcast. Kathleen has won multiple teaching awards (she was the 2016 Outstanding Educator of the Year and 2013 Sloan Foundation Award winner to name must two) and loves using case studies in her classroom. Our conversation touches on the her favorite case studies (see Show Notes below), how she prepares for a case study discussion and the student engagement and learning she witnesses in...

Question: What Are The Building Blocks of Financial Capability?

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Sep 12, 2016
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Financial Literacy, Behavioral Finance, Policy, Question of the Day, Research, Budgeting, Teaching Strategies, Current Events, Case Study, Parent Conversations
Consumer Financial Protection Bureau (CFPB) out with a new report “Building Blocks to Help Youth Achieve Financial Capability.” Skimming through it quickly to bring you the highlights. Here are their three building blocks they identify as critical to financial capability: Here are some links to a few NGPF resources that map to the examples that they provide in the table above: Savings lessons and activities Our most popular budgeting activity Rules of thumb What’s the...

NGPF Podcast: Tim Talks To Elizabeth Justema of Summit High (Bend, OR) About Teaching Money Values and Beliefs

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Sep 07, 2016
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Tips for Teachers, Paying for College, Personal Finance, Financial Literacy, Teaching Strategies, Audio Resource, Featured Teachers, Parent Conversations, Podcasts, Writing assignment
My conversation with Elizabeth Justema, a personal finance teacher at  Summit High School in Bend, Oregon coincides with schools opening across the country post-Labor Day. Elizabeth raised her hand when the Social Studies department created  a personal finance elective (it’s quite popular with over 250 students enrolled) for this fall. With a previous career in international marketing at Microsoft, Elizabeth has a wealth of experience to share with her students. As for her interest...

Question: What Percentage of 8-14 Year Olds Have Credit Cards?

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Aug 30, 2016
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Credit Cards, Behavioral Finance, Question of the Day, Research, Chart of the Week, Parent Conversations
Answer: 18%, according to recent survey by T. Rowe Price. Here’s the data: Some reasons parents gave for giving their kids credit cards: Safe travel: “They were flying by themselves at that age to go to sleep-over camp,” says Zucker, who lives in Omaha, Nebraska. “We didn’t want them to feel stuck or stranded.” Traveling with cash alone is risky, because if it’s lost or stolen, the money is usually gone for good. With credit cards, though, funds are replaced when fraud...

Consumer Reports on Student Debt Crisis: 10 Questions Every Family Should Answer BEFORE College

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Jul 13, 2016
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Parent Conversations, Activity, Paying for College, Research, Student Loans, Teaching Strategies, Current Events, Activities
Reading through another depressing report on the student debt crisis but surprised to see the author, Consumer Reports. As I was surfing through the report I found the most illuminating chart on student loan repayment that I have seen in capturing the outcomes of various repayment options. It is an interactive chart with each bubble representing a different repayment option.  It shows 1) the complexity of repayment choices when the future is uncertain (8 bubbles) and 2) how the payment...

Chart: What Percentage of Teens Have Summer Jobs?

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Jul 12, 2016
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Career, Question of the Day, Research, Current Events, Chart of the Week, Internships, Employment, Parent Conversations
Answer: About 30% of 16-19 year olds are working during the summer. From Nate Silver’s blog 528: Questions for your students: Do/did you have a summer job? How did you get the job? or Why didn’t you get a job? What did you learn from the experience? What tips would you give someone who didn’t get a job? More from 529 about the how family income impacts the ability of young people to get jobs: Young Americans from low-income families have been especially hard-hit by the...

NGPF Podcast: Tim Talks To World Bank Senior Economist Bilal Zia

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Jun 24, 2016
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Podcasts, Behavioral Finance, Research, Savings, Financial Literacy, Current Events, Parent Conversations, Tips for Teachers
Thanks to Bilal Zia for sharing his global perspectives on financial literacy and financial capability that he has gleaned from his field studies in countries such as Indonesia, India, Brazil and South Africa. Bilal is not afraid to tackle the difficult questions facing the field including how to translate financial knowledge into behavioral change and whether financial education works.  He shares some surprising insights gleaned from his study of Brazilian high school students, as well as...

Teachers, What If You Wrote A Money Letter To Your Students?

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Jun 19, 2016
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Teaching Strategies, Article, Generosity, Parent Conversations, Writing assignment
Ok, I admit this may seem a little far-fetched, but stick with me for a minuter here. Ron Lieber (NY Times) has a column this Saturday imploring parents to write a money letter to their kids to get a conversation going: The Money Talk, capital “M” and capital “T,” is overrated. As with the Sex Talk, children can sense that one is coming. And if they get antsy, your words will go in one ear and out the other. Tempted to hand over a notecard instead? Your first principles may fit on it,...

Question: How Much Do Car Insurance Premiums Rise When A New Teen Driver Is Added?

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Jun 16, 2016
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Insurance, Question of the Day, Research, Current Events, Parent Conversations
Answer: Ouch. 79%! From Money: According to a new survey from InsuranceQuotes.com, the average premium increased 79% after adding a driver between the ages of 16 and 19 to an auto insurance policy in 2015. Sure, that’s a lot, but it’s down five percentage points from 2013, when families in the same situation saw their premiums jump 84%. And because boys will be boys, it’s more expensive to insure a young man than a young woman; the survey found that the national average for adding a...

Before You Ask Your Parents To Co-Sign A Loan For You...

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Jun 13, 2016
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Parent Conversations, Credit Scores, Research, Current Events, Credit Reports
..Be sure that you are in a position to make the payments so those smiles don’t turn into scowls and hurt feelings! A recent survey conducted by CreditCards.com surprised me in how often a cosigning situation doesn’t go as planned: A new CreditCards.com survey of 2,003 U.S. adults revealed the negative results from co-signed loans gone wrong. Lost money: 38 percent of co-signers had to pay some or all of the loan or credit card bill because the primary borrower did not. Credit...

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