Category: Personal Finance

Research: Champlain College Report, MAKING THE GRADE, Highlights State Level Efforts on Finance Education at High School Level

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Dec 14, 2017
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Personal Finance, Current Events, Financial Literacy, Research
John Pelletier of Champlain College is out with his biennial report which grades states based on their state-level policies on delivering personal finance education at the high school level. The takeaway from his research: We still have a long, long, long away to go to ensure that all students have access to a full semester personal finance course before they graduate from high school.  Here's a summary of the report:  Although there have been improvements made since our last report in...

Adventures in Personal Finance: Vacationing on a Budget!

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Dec 12, 2017
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Article, Personal Finance, Budgeting
My partner and I were living in New York City. At the time, I was a Physics Teacher/Basketball Coach, and he was a Dental School Student at NYU. Needless to say, what we had in personality we lacked in expendable finances. Both of us were living on a tight budget. Luckily in NYC, that means amazingly tasty burritos from incredible secret hole-in-the-wall restaurants, lots of dumplings, free outdoor showings of the opera at Lincoln Center, and $10 comedy where you catch a celebrity now and then....

NGPF Podcast: Tim Talks to Enterprising Educator, Dan LaSalle of Olney High School (Philadelphia, PA)

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Nov 19, 2017
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Podcasts, Personal Finance, Savings, Parent Conversations, Teaching Strategies, Career
Want a radical approach to teaching financial education? How about creating jobs for your students at school and paying them for their efforts...then standing back and watch how they manage THEIR money. Dan LaSalle, educator at Olney High School in Philadelphia came up with this idea, received a grant to fund it and shares his observations after one year of running the IF (Identity and Finance) Project. His belief: to teach kids about money they need to have money to manage. Listen to the...

Press Release: Vermont Technical College Approves Financial Literacy for Dual-Enrollment Course Using Next Gen Personal Finance (NGPF) Resources

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Nov 17, 2017
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Financial Literacy, Personal Finance, Current Events
Exciting news to share about our semester course being used for dual-enrollment in Vermont RANDOLPH, Vermont, November 9, 2017 - Vermont Tech  recently approved a dual enrollment personal finance course that will be offered in the spring of 2018. Wayne Goulet, the Randolph Technical Career Center teacher who has been approved to teach the course for Vermont Tech, will use resources from Next Gen Personal Finance for his instruction. The goal of this course is to remove the mystery from the...

How To Integrate Personal Finance Content Into Family and Consumer Science Courses

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Nov 15, 2017
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Entrepreneurship, Credit Reports, Personal Finance, Credit Scores, Identity Theft, Investing
A few days ago, Leah Bratcher, Financial LIteracy Program Coordinator for FCCLA reached out to us with an interesting challenge. Leah helps Family and Consumer Science teachers discover ways to integrate personal finance into their courses, which can range from child development to fashion, interior design to hospitality, and more, all while adhering to different standards. As you can imagine, finding ways to weave personal finance into such a wide variety of subjects while meeting standards can...

Financial Education Explained by Danielle: The Cost of Trust

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Nov 14, 2017
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Financial Scams, Budgeting, Payment Types, Article, Personal Finance, Savings
Last week, one of my friends experienced a financial pitfall that most of us only ever hear about and hope to avoid. For the past five months, my friend's monthly rent money was not making it to their landlord because their roommate had been pocketing it. To give some context: most landlords require a single rent check for each unit that they own. To achieve this in a multiple person apartment, one roommate—typically the original or most responsible tenant—usually inherits the...

NGPF Podcast: Tim Talks to Fred Selinger, Personal Finance Educator At Cal Berkeley

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Nov 12, 2017
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Personal Finance, Podcasts, Stocks, Budgeting, Investing
Thanks to Fred Selinger, Personal Finance instructor at Berkeley's Haas School of Business for joining me recently on the NGPF podcast. Fred shares his exciting story of how he went from a successful business career in corporate finance to taking on the challenge of building a personal finance program at one of America's flagship universities, the University of California at Berkeley. He describes the meteoric rise of the program: from the the first day of class when he didn't know if anyone...

Financial Education Explained by Danielle: Why Garage Sales are Great!

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Nov 03, 2017
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Article, Entrepreneurship, Activity, Personal Finance
When my family moved to a smaller house in a new city, my parents knew they would have to relinquish some possessions they either didn’t need any longer or ones that took up too much space. They decided to sell some of their old belongings so that we’d have a lighter load when we made the move. To do this, they had a garage sale, and, lo and behold, I was introduced to the world of the re-use economy. Our loss was someone else’s gain on the day of the garage sale. Parents,...

Finance In Our Life: What's the Catch?

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Oct 31, 2017
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Personal Finance, Financial Scams, Credit Cards, Investing
Laura and I were exchanging notes about recent items we received in the mail. We thought it would be a good exercise in having students figure out "What's the catch?" with these financial offers: From my mailbox (apologies for the poor photo): Questions: What is this a "special invitation for?" Who is hosting the event? What do you think they are selling? Why do you think they invite both spouses to attend? What are examples of how they are using psychological tactics to get me...

NGPF Podcast: Tim Talks to Grace Deng, Project Manager for NGPF's Access To Financial Education Report

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Oct 29, 2017
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Podcasts, Personal Finance, Current Events, Research, Financial Literacy
After evaluating 11,000 high school course catalogs, NGPF researchers found that 1 in 6 high school students attend a high school with a personal finance course requirement; the numbers are 1 in 12 in low-income communities. Without the work of Grace Deng and her team, we would not know about this huge gap between the need for financial education and what is actually happening in high schools across America. She and a team of researchers spent the summer combing through thousands of high school...

Are You Financially Literate?

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Oct 23, 2017
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Quizzes, Financial Literacy, Research, Personal Finance
Is this even the right question to be asking? Hat's off to Prof. Meir Statman of Santa Clara University (podcast here) for asks for the field to move beyond the three questions typically used to measure financial literacy. He makes the argument (that I agree with) in the Wall Street Journal [subscription] that knowing facts about how compound interest works or what diversification is provides no guarantee that good financial decisions will follow: We do good when we promote financial...

Financially Underserved Communities Deserve Better: Here's Why

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Oct 20, 2017
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Article, Personal Finance, Financial Literacy, Current Events, Advocacy, Webinar
Just as food deserts unfortunately exist in abundance, so do bank deserts. The reality today is that so many Americans who live and work in financially underserved communities don’t have the time to go to the bank outside of their community because of their irregular work schedule. This issue cannot be ignored, as FDIC research has recently found that 67 million adults are unbanked, and this disadvantaged population has spent $141 billion in fees and interest rates in non-bank alternatives...

Common Cents: Avoid Withdrawing Money From Out-of-Network ATMs

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Oct 13, 2017
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Article, Personal Finance, Current Events, Checking Accounts, Debit Cards
The creation of the ATM saved quite a lot time for bank customers, as they no longer had to wait in line at bank branches to withdraw their money. Could escalating out-of-network ATM fees lead to the decline of withdrawing cash in the near future? I predict that the recent trend of peer-to-peer payment could lead to the eventual—and most unfortunate—downfall of ATMs starting in large metropolitan areas. In these markets, more and more people are opting out of using cash and instead...

Schools in the News

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Oct 12, 2017
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Schools In News, Personal Finance, Employment, Teaching Strategies, Financial Literacy
New financial literacy standards for Illinois schools (Fox Illinois) Schools around Illinois are teaching students the ins and outs of spending and saving money. According to the Illinois State Board of Education, these standards are meant to better prepare students for college and careers. The new standards were required to be implemented this school year. High schools host rock concert/financial literacy events (Nebraska Radio Network) A touring Midwestern rock band will play concerts...

How To Manage Your Spending Habits

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Oct 10, 2017
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Article, Generosity, Budgeting, Personal Finance
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...

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