Final QoD for 2018-19: What was the #1 answer in a survey given to 1,000 adult respondents who were asked to complete this phrase "If I had a million dollars, I would ______.”
Well we did it! Over 150 questions later, we come to the culminating question of the 2018-19 school year. Want to warm my heart? Take a moment and ping me your favorite QoD from this year (send to tim@ngpf.org). I'm always interested in hearing which ones caught your students' attention. We'll get that QoD pipeline revving again in early August. Until then, have a relaxing and joyful summer and hope to see you at one of our FinCamp + or Virtual PD offerings!
Answer (based on survey of...
QoD: Which one of the following headlines DID NOT appear in the past month?
Choices:
Teens help Snap's stock to surge
High school English teacher paid thousands to Citibank for credit card protection he never wanted
High school senior earns millions trading bitcoin; will donate money to build stock trading floor at high school
Teen bakes thousands of cupcakes to take his family to Disney World
Answer:
High school senior earns millions trading bitcoin; will use proceeds to build new science building at high school
While...
QoD: Rank order from highest to lowest: percentage of people who....a) have an emergency fund, b) struggle to pay bills, c) live paycheck to paycheck.
Answer (from Schwab Modern Wealth Report):
Live paycheck to paycheck: 59%
Struggle to pay bills: 44%
Have an emergency fund: 38%
Questions:
Why do you think so many Americans live paycheck to paycheck? How much of it is an income problem compared to a spending problem?
If someone came to you and said "I want to stop living paycheck to paycheck," what questions would you ask them to try and understand their situation?
Why do you think it's so important to have an emergency...
Question of the Day: When choosing from a list of 401(k) investment options, which tend to be chosen most frequently: those investments starting with the letter C, letter M or the letter Z?
Answer: The letter C
Questions:
Why do you think that investments with the letter C might be selected more frequently than the investments starting with the other letters?
What does your answer to the previous question say about human nature when it comes to challenging decisions with lots of options?
How can you overcome this alphabeticity bias?
Think of a decision that you recently made that had lots of choices (meals, career choices, colleges, classes to take). Describe...
QoD: Which of the following factors has the MOST negative influence on money habits: family, friends or social media?
Answer: Social Media.
Questions:
Who has had the most positive influence on your money habits? Explain.
What are some examples of how social media can lead to bad money habits?
Explain a situation where a friend may have had a negative influence on how you manage your 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 (Schwab Modern Wealth Report):
Includes many interesting insights, including:
Americans...
Savings QoD: How much (in billions of dollars) are Americans losing by keeping their money in low-interest savings accounts?
Answer: $50 billion
Questions:
Why do you think Americans leave their money in low-interest savings accounts when they could earn more by switching banks?
Would your answer to the previous question change based on the amount of money you had in your savings account?
Online banks tend to have the highest interest rates on savings accounts. Would you trust your money with an online bank?
Click here for the ready-to-go slides for this Question of the Day that you...
QoD: What age group has seen the greatest increase in credit scores since 2008: 18-21 year olds, 22-35 year olds or consumers 72 and older?
Answer: 18-21 year olds saw an increase of 23 points in the past decade.
Credit score changes since 2008
18-21 year olds: 23 point increase to 639 in 2018
22-35 year olds: 15 point increase to 644
72 and over: 40 point drop to 732
Questions:
The CARD Act passed by Congress in 2009 reduced teen access to credit cards. What impact do you think this had on credit scores for 18-21 year olds since it passed?
What relationship do you see between age and credit scores? Why do you think...
QoD: Can you name ONE of the top five highest paying summer jobs for teens?
Answer:
5. Landscaper (est. $2,200/month)
4. Delivery driver (est. $2,300/month)
3. Dog walker (est. $2,500/month)
2. Golf caddy (est. $2,500/month)
1. Lifeguard (est. $2,800/month)
Questions:
Do you have a summer job? If so, how did you get it?
How would you describe the local job market for teens for this summer? What are the most popular jobs for teens?
What do you think are the benefits of having a summer job?
If you have a summer job, do you have a savings goal for the...
QoD: What are top three reasons people want to go college?
Questions:
When thinking about your post-high school plans (which might include working or going off to college), what are the major reasons that you are choosing your path?
Do you think some of the reasons given are "better" than others? Which ones resonate most with you?
Do you think those who are surveyed would have a different answer about why they went to college twenty years after they graduated?
Here's the ready-to-go slides for this Question of the Day that you can...
QoD: In percentage terms, how many more items of clothing do people buy today compared to 15 years ago?
Answer: 60%
Questions:
Why do you think that young people are purchasing more clothing but keeping it for only half as long?
What impact do you think that social media has had on this trend?
How would you describe how your shopping habits when it comes to clothing?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (Business of Fashion)
This trend is partly driven by the young generation’s hunger for...
QoD: What is the top restaurant choice among teens?
Answer: Chick-fil-A
Questions:
What do you think makes a restaurant popular among teens? Name at least three factors.
What is your favorite restaurant?
Food is considered the number one spending priority for males and #2 for females. How much do you think YOU spend on food (snacks, drinks, meals) every month?
How much of your monthly food spend would you call a "need" vs. a "want?"
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom....
QoD: What worries adults most when it comes to financial matters?
By Tim Ranzetta
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May 21, 2019
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Question of the Day, Behavioral Finance, Retirement, Investing, Insurance
From Gallup:
Questions:
As you think about leaving high school, what would be your top money worry?
How do you think your parents/guardians would answer a question like this?
What are steps that a person can take to reduce their worries when it comes to the first three items on the list?
How much do you think these answers would change during a recession (we are currently in the midst of an ongoing economic expansion)?
Here's the ready-to-go slides for this Question of the Day...
QoD: Can you name one of the five highest paying jobs for the college Class of 2019?
Hat tip to Beth Tallman (via Big Picture blog) for this QoD.
Answer:
Questions:
Do you see a pattern with the highest paying jobs for this year's college grads?
What do you think are the factors that determine the salary of a recent college grad?
Does seeing information like this impact how you think about your college major?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (via Bloomberg):
The Class of 2019 is getting...
Order from highest to lowest cost: renters insurance, health insurance for average adult, car insurance for 16 year old?
Answer:
Health insurance: $5,712
Auto insurance for a 16 year old; $4,140
Renter's insurance: $154 - $224
Questions:
What do you think are the reasons that people buy insurance for their health, auto and for the apartment they rent?
Why do you think that health insurance is more expensive than the other types?
Which of the three types of insurance do you think increases in cost as you get older? declines in cost as you get older? Explain.
Here's the ready-to-go slides for this...
QoD: How much do Americans spend monthly on subscriptions?
Answer: $237 a month
Questions:
Have you ever signed up for a monthly subscription?
If so, what do you subscribe to and how much do you pay?
If not, do you know any family members who have subscriptions (who knows, maybe you even use their Netflix account:)
Have you ever heard someone complain about signing up for a subscription that they didn't even know about? What happened?
The research found that 84% of Americans underestimate how much they spend every month in subscriptions? How...
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