QoD: Rank order these financial accounts from most to least prevalent for 8-14 year olds: investment account, online gaming account, credit card
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Sep 18, 2019
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Question of the Day, Credit Cards, Savings, Investing
Answer (courtesy of T. Rowe Price survey of parents of 8-14 year olds)
Questions:
Which of these accounts did you have when you were 14 years old?
For #1, list the timing of when you got each account.
How do you think that kids so young are able to have a credit card? Do you think it's a good idea for someone so young to have a credit card? Explain.
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Behind the...
QoD: What percent of product searches on the Amazon website do consumers include a brand name in the search?
Answer: 22%
Questions:
If you just looked at the searches that teens did on Amazon, what percentage do you think would include a brand name?
What product searches do you think consumers would look for a specific brand rather than just a generic search like "running shoes?"
Do you ever buy store brand products (e.g., Kirkland, CVS, Sam's Club, Amazon)? Why or why not?
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Behind the numbers...
QoD: When do young Americans think they will be financially independent?
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Sep 16, 2019
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Parent Conversations, Question of the Day, Personal Finance
Answer: 22
Questions:
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?
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QoD: What percent of college graduates end up working in the field of their major?
Answer: 27%
Questions:
Which majors do you think are more likely to lead to a job in that field?
What steps can you take to prepare yourself for employment, regardless of which major you choose?
Given that almost 3/4 of college grads end up in fields that are not related to their major, do you think it's a good idea to consider multiple majors while in college?
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Behind the numbers...
Stock Showdown QoD: Which company has performed better over the past five years, Netflix (NFLX) or Disney (DIS)?
Answer: Netflix
Netflix, at a recent price of $290/share, has increased 450% in the past five years ago, while Disney, at a recent price of $140/share, is up 169% compared to five years ago.
Questions:
Both companies are in the business of entertaining, but have taken different approaches. How would you sum up each company in ONE sentence?
What factors do you think contribute to the very different market performance of these companies?
When you look for entertainment, which of...
QoD: If a bank mistakenly deposits $100,000 into your bank account, is it now YOUR money?
Hat tip to Brian Page and Lana Main for sharing this story!
Answer: Nope.
Here's a two minute video explaining what happened to a couple in Pennsylvania who "had a bank error in their favor:"
Questions:
Does this seem fair to you? Why or why not?
The couple in this story used the $100,000 to go on a shopping spree. Imagine you suddenly received $100,000 (legitimately and not through a bank error), how would you spend it?
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QoD: What's the average number of times that a person wears a specific piece of clothing?
Answer: 7
Questions:
How often have you worn the outfit that you are wearing today?
One writer thinks about their clothing cost by analyzing their CPW (cost per wear calculated by dividing the cost by number of times that an item is worn). What do you think the CPW is for your favorite pair of shoes/sneakers? favorite jeans?
What do you think social media's impact has been on clothing sales? Explain.
Click here for the ready-to-go slides for this Question of the Day that you can use in...
Question of the Day: Can you name ONE of the three most valuable sports franchises?
Football season is upon us which inspired Beth to come up with this question!
Answer:
Dallas Cowboys: $5 billion
New York Yankees: $4.6 billion
Real Madrid: $4.24 billion
Questions:
What factors do you think drive the value of a sports franchise?
Do you or your friends spend money to support your favorite teams? What types of things can you/do you purchase?
One of the reasons that franchises are worth so much has to do with their latest TV/Cable/Streaming contracts.
Raise your...
Question of the Day: When a couple takes out a loan, which credit score does the lender use?
Answer: The partner with the lower score
Questions:
How do you think having different credit scores can affect a relationship?
How would you feel…
being the only spouse listed on the mortgage (the home loan) because of a high credit score
being the spouse left off the mortgage because of a low credit score
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Behind the numbers (Zillow):
When applying...
Throwback Tuesday QoD: What percent of 13-17 year olds have a savings account?
By Tim Ranzetta
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Sep 02, 2019
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Savings, Question of the Day, Research, Current Events, Behavioral Finance
Answer: 54%
Questions:
Do you have a savings account?
If not, why not?
If so, what age did you open on and what motivated you to open it?
Do you have any savings goals?
Do you find it easy/difficult to save money? Explain.
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (from Ipsos):
To help with saving their money, a majority (54%) of Gen Zs have a savings account. Among those who have a savings...
Question of the Day: Which company is the largest user of internet bandwidth? a) YouTube b) Netflix c) Facebook
Answer: Netflix
Questions:
Which websites/platforms do you watch most of your online video?
Has your watching behavior changed in the past 1-2 years? Explain.
Do you think this trend away from traditional TV to these streaming sites will speed up or slow down?
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Behind the numbers (Economist; sub. required):
"What Mr Bewkes missed, but Mr Hastings did...
QoD: Students who don't complete college are _______ times more likely to default on their student loans than those who graduate.
Answer: Students who don't complete college are THREE times more likely to default (not repay) on their student loans than those who graduate.
Questions:
Why do you think it's more difficult for people to repay their student loans if you don't finish college?
Do you think that people with college degrees earn more than someone who starts college but doesn't finish? Why?
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QoD: ___out of 5 Americans tip and their median tip is __%.
Answer: 4 out of 5 Americans tip and their median tip is 18%.
Questions:
What is your tipping policy? Is it consistent or does it depend on certain circumstances? Explain.
Have you ever worked at a job where part of your compensation was based on tips? Did it affect how you treated customers?
What do you think are the factors that impact how much people tip? How do you think income, gender or age influence tipping practices?
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QoD: What are adults least comfortable doing? a) Collecting on debts from friends or family b) Returning an item for a refund c) Correcting an overcharge on a bill
Answer: Collecting on debts from friends or family
Questions:
Have you ever lent money to a friend or family member? Did you find it difficult to ask for your money back?
Why do you think it's so difficult for people to collect on their debts from people they know?
What do you think are reasons that people do not return items for a refund or correct an overcharge on a bill?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom....
QoD: Savers in England received information about rival banks with higher interest rates. What percent were prepared to switch banks?
By Tim Ranzetta
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Aug 25, 2019
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Question of the Day, Savings, Checking Accounts, Behavioral Finance
Answer: 3%
Questions:
If you could make an extra $100 in extra interest by switching banks would you do it? How about $20 in extra interest?
Would the amount of time required to open a new bank account impact your willingness to switch banks? Explain.
Why do you think so few savers were ready to switch banks despite a potential benefit of $150 in the first year?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the...
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