Category: Question of the Day

Question of the Day: What's the maximum unemployment benefit in your state?

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Mar 30, 2020
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Career, Question of the Day
Answer: See slides below for map with maximum benefits.  Questions: How does your state compare with neighboring states in terms of the maximum benefit offered? Unemployment benefits are typically calculated as about ½ of a workers’ salary but no greater than the statewide maximum benefit. Why do you think this benefit is typically below what a work typically makes? The recent stimulus bill will pay unemployed workers an extra $600/week beyond the state unemployment benefit...

Question of the Day: What percent of Gen Z consumers are stockpiling cash in light of coronavirus?

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Mar 29, 2020
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Question of the Day, Behavioral Finance, Current Events
Hat tip to Beth Tallman for this question idea! Thank you for all of the informative articles in your weekend reading list too!  Answer: 39% Motivated by three factors: The possibility of banks shutting down The convenience of having cash during emergencies The desire to ensure access to funds Questions: How are accountholders protected if banks fail?  Are there any other reasons you can think of that might explain this behavior? What are the risks of holding lots of cash at...

Question of the Day: The stock market recently dropped 33% from its peak. What percentage increase would get it back to its original level?

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Mar 25, 2020
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Question of the Day, Math, Investing
Answer: 50% It's the math of investment returns. Let me explain: Your investment was worth $100. After a 33% drop, your investment is worth $67. In order to get back to $100, it has to rise $33 in value which would be a 50% increase from its current level of $67.  No additional questions. Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Zachs): Big Losses Hard to RecoupThe math of percentages shows that as losses get...

Question of the Day: What percent of 13-17 year olds have a debit card?

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Mar 24, 2020
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Checking Accounts, Question of the Day
Answer: 40% Questions: Do you have a debit card? If so, when did you get it and what purchases do you use it for? If not, when do you plan to get one? Does it surprise you that twice as many 13-17 year olds have a debit card compared to a credit card? Which account is a debit card typically attached to? What’s the difference between a debit card and a credit card? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers...

Question of the Day [Updated]: What is the maximum number of cells in a Google spreadsheet?

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Mar 23, 2020
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Question of the Day, Career
Answer: 5 million (up from 400,000 when this question was answered 4 years ago) Questions: Why do you think companies consider spreadsheet skills so important for their employees?  What has been your experience with spreadsheets? What problems have you been able to solve using them?  What are the advantages of using spreadsheets for calculations? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Gsuite): ...

Question of the Day: What is the deadline for filing your 2019 tax return?

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Mar 22, 2020
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Taxes, Question of the Day
Answer: July 15, 2020 Questions:  Just like school work, why is it important to know the deadline to file your tax return? What would be your advice for the 73% of tax filers who receive a tax refund? File as soon as possible or wait until July 15th? What would be your advice for the 27% of tax filers who owe the government additional taxes? File as soon as possible or wait until July 15th? What is the typical tax deadline? Click here for the ready-to-go slides for this Question of the...

Question of the Day [Updated]: What's the average monthly payment for a new car purchased in 2019?

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Mar 18, 2020
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Question of the Day, Credit Reports, Purchase Decisions
Answer: $554 Questions: When do you expect to buy your first car? Will you buy new or used? Explain your answer. Do you think that $554/month for a car payment is reasonable? Why or why not? What is the trend in monthly payments for new cars over the last five years? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Credit Karma):  Recent data indicates that new-car prices have gone up — by 2.3% from March...

Question of the Day: What's the probability of an American coming up with $2,000 in case of an unexpected need in February 2020?

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Mar 17, 2020
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Question of the Day, Savings, Research
With talk of federal stimulus which including a $1,000 to every adult over the age of 18, this question collected from survey data in February measures the level of financial fragility pre-Coronavirus slowdown.  Answer: 71.6% Questions: What types of unexpected needs might cost $2,000? How do you think that most adults would manage $1,000 check from the U.S. Government at this time? What’s the best way to prepare for an unexpected expense?  How do you think this percentage...

Question of the Day: What’s the average credit score for 18- to 24-year-olds?

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Mar 16, 2020
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Question of the Day, Credit Reports, Credit Scores
Answer: 630 Questions: Why are credit scores important? Why do you think 18- to 24-year-olds have the lowest credit scores? What is the relationship between age and credit score in this chart? Why do you think this relationship exists? What might be some of the reasons? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Credit Karma): Our Credit Trends show you how you compare to other Credit Karma members. See where you...

Question of the Day: What percent of Gen Z use contactless payments (tap to pay) at least two times a week?

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Mar 15, 2020
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Payment Types, Question of the Day
Answer: 49% Questions How frequently do you use tap to pay to buy stuff?  Do you consider this payment type secure? Why or why not?  Do you think you are more likely to overspend using cash or tap to pay? Explain.   Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (creditcards.com):  Though Generation Xers (age 40-54) were most likely to have used contactless payments for more than two years...

Question of the Day: How many bear markets (stock market declines of 20% off the peak) have there been in the past 63 years?

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Mar 11, 2020
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Investing, Question of the Day, Stocks
Answer: 10+1 or about once every 6 years. It was 10 until yesterday when the S&P 500 index was more than 20% below its previous high.  From Invesco:  Note: The number in bold is the duration (in months) of the bull/bear market. The %age is the rise or decline in stocks over that period. Bull in green and bear in red.  Questions What time period had the best performing bull market? the worst bear market?  How do bull and bear markets compare when it comes to their...

Question of the Day [Updated]: What percent of tax returns are audited by the I.R.S.?

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Mar 10, 2020
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Question of the Day, Taxes, Research
Questions: Why do you think the percentage of returns that get audited is so low? Explain your reasoning. Why do you think that taxpayers are so afraid of being audited? Is their fear warranted? Do you think that low audit rates can contribute to more taxpayers "cheating" on their tax returns? Why or why not? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Accounting Today) Most taxpayers envision Internal Revenue...

Question of the Day: Which tech company would you miss most if it disappeared?

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Mar 09, 2020
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Question of the Day, Advertising
Answer: Google   Questions: How would you answer this question? Why? Describe the costs/benefits of each of the three companies on this list that you would miss the most? How many of the companies on the list provide products that are free? How do they make money?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (The Verge) The news for tech companies isn’t all bad. Americans believe that Google, Amazon,...

QoD: What percent of the cost to drive a new car is the fuel cost?

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Mar 08, 2020
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Question of the Day, Budgeting, Research
Answer: 19% Questions: The largest cost element above is depreciation. Why do you think that a new car depreciates (or loses value) over time?  Changing the number of miles you drive will reduce your fuel cost. Will it change any of the other costs listed above? Insurance estimates are based on someone with 6 years of driving experience. Do you think the cost of insurance would be lower or higher for a teen just getting their license?  Here's that answer in earlier QoD.  The...

Question of the Day [Updated]: What is the average fee to take money out of a non-network ATM?

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Mar 04, 2020
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Checking Accounts, Question of the Day, Research
Answer: $4.72 This charge includes: Your bank’s fee AND Fee charged by ATM owner Questions: Did it surprise you that the charge includes TWO different charges? Why or why not? Did you know that there is a charge for taking cash out of an out-of-network ATM? Do you think most people who use ATMs that are out-of-network are aware of this charge? Why do you think there is a charge to use an ATM that is out-of-network? Click here for the ready-to-go slides for this Question of the Day that...