Category: Question of the Day

Last Question of the Day: Are millennials who use their mobile phones to pay for things at higher or lower risk for financial mismanagement?

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Jun 07, 2018
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Checking Accounts, Question of the Day, Research, Payment Types
Before we get to the Answer... In October, we made the bold decision to create a daily Question of the Day for the 2017-2018 school year....and we made it! A huge thank you to Danielle for her assistance! For those of you still in session, we have this incredible list (sorted by topic) for you to choose from. Questions of the Day will resume again in early August. In the meantime, please let us know how you used them in your classroom and your students' favorites (and any great questions of the...

Question of the Day: What percent of teens are expected to have a summer job in 2018?

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Jun 06, 2018
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Career, Question of the Day, Employment, Research
Answer: 31% Questions: What are your summer plans?  If you are getting a summer job... How did you get the job? How much will you be earning? How much do you hope to save? What skills do you hope to develop?  Do you think summer jobs are important? 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 (from MarketWatch): "...predictions from researchers at the Drexel...

Question of the Day: What's the average monthly payment for a new car purchased in 2018?

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Jun 05, 2018
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Question of the Day, Budgeting, Purchase Decisions, Current Events, Research
Answer: $523 Questions: When do you expect to buy your first car? Will you buy new or used? Explain your answer.  What are other costs that you can expect to pay for a car beyond the car payment?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from CNBC): In the first quarter of this year, the average monthly loan payment for a new vehicle climbed $15 compared with last year, hitting an...

Question of the Day: What's the #1 expenditure for the average American household?

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Jun 04, 2018
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Question of the Day, Taxes, Budgeting
Answer: Housing Here are the top 5 expenses for households (with amounts spent in 2016 ): Housing ($18,886) Transportation ($9,049) Food ($7,203) Personal insurance and pensions ($6,831): largely Social Security payments Healthcare ($4,612) Questions: What are some examples of housing costs? transportation costs?  Do you think these costs are about the same across your state? Explain.   Average income for American household in 2016 was almost $75,000. One rule of thumb is that...

Question of the Day: Do consumers struggle more with repaying mortgage debt or student loan debt?

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Jun 03, 2018
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Student Loans, Question of the Day, Paying for College, Mortgages
Answer Student loan debt. Student loans had a 10.7% delinquency rate (over 90 days past due) vs. mortgage debt which had a delinquency rate of 1.2% in 1Q 2018.  Questions: What is the major difference between how a lender evaluates a consumer taking out a mortgage vs. how the government evaluates a student taking out a federal student loan?  What do you think happens if someone stops making payments on their mortgage? On their student loan?  Why do you think that more than 1 in...

Question of the Day: What is the top financial goal for teens?

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May 31, 2018
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Question of the Day, Personal Finance, Behavioral Finance, Paying for College, Research, Current Events
Answer: Graduating from college Behind the Numbers (from Junior Achievement survey): "Junior Achievement USA and AIG surveyed 1,000 teens to learn their perceptions about personal finance and financial decision-making. The survey found that while 75 percent of teens who responded listed their top financial goal as graduating from college, only half thought gaining financial independence from their parents was an important goal. And 43 percent worry they don't have the skills they...

Question: What percent of the time do people click the first item on Google search results page?

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May 30, 2018
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Research, Question of the Day, Advertising, Behavioral Finance, Purchase Decisions
Answer: 24% (mobile) - 32% (desktop) Legend: CTR = Click through rate  Questions: Describe your search habits when looking for info for a school project and how many links you typically click on.  What are your search habits when looking to purchase an item? Do you search on a specific website or search from a general search engine (e.g., Google or Bing)?  What are advantages/disadvantages of limiting your search to the first 4-5 items from a Google search?  Click here for...

Question of the Day: What percentage of Americans cannot come up with $400 to cover an emergency?

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May 28, 2018
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Savings, Question of the Day, Research, Current Events
Answer: 41% Questions: Are you surprised by this number? Why or why not? What are some emergency expenses that could amount to $400? How do you think the 41% cover this emergency cost if they don’t have money saved to cover it? Your friend says that saving is for chumps. He asks you “Why would you want to save money when interest rates that banks pay for savings is so low?” Convince him that saving money is a good idea. Click here for the ready-to-go slides for...

Question of the Day: What is your personal definition of wealth?

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May 24, 2018
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Behavioral Finance, Question of the Day
It's the end of the school year, so it's time to get a little philosophical. Answer: Will vary The motivation for this question came from this Schwab Modern Wealth survey completed by 1,000 Americans. Here were the top 3 ways they defined wealth: Living stress-free/peace of mind (28 percent) Being able to afford anything I want (18 percent) Loving relationships with my family and friends (17 percent) Questions: Why do you think people define wealth in so many different ways? Do you think your...

Question of the Day: What's the average hourly wage for young college graduates?

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May 23, 2018
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Career, Question of the Day, Research, Current Events
Answer: $20.37 or about $42,000 per year Questions: What has been the trend in hourly wages over the past 6 years?  How much do you think hourly wages vary for young college graduates? What might influence these differences in wages?  Your friend says that wages for young college grads are a sure thing and will always increase in the future. Agree or disagree with your friend by analyzing the data from the past 30 years.   Click here for the ready-to-go slides for...

Question of the Day: What percent of consumers say they’ve gone into debt to pay for a vacation?

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May 22, 2018
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Question of the Day, Credit Cards, Personal Finance
Answer: 74%, with an average balance of $1,108 Questions: Do you think going into debt to pay for a vacation is a good idea? Explain your reasoning. Why do you think that so many people do it (borrow money to go on a vacation)? What advice would you give to a friend or colleague who’s looking to budget for a vacation but wants to avoid going into debt over it? Behind the Numbers (from MarketWatch):  "Americans spent an average of almost $2,000 on their 2017 summer vacations,...

Question of the Day: What percent of students learn about credit cards before leaving high school?

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May 21, 2018
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Credit Cards, Question of the Day
Answer: 30% Questions: If a friend asked you for advice about credit cards, what would you tell them?   What is the first word that comes to mind when you hear the word “credit card?” How have you learned about credit cards? When do you anticipate getting 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 (Credit Cards Explained) Nearly half of the 2,500 respondents...

Question of the Day: What's the most popular way for financial scammers to contact consumers?

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May 20, 2018
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Identity Theft, Question of the Day, Current Events, Research, Audio Resource
Answer: Phone Call Questions:  Have you ever been contacted by a scammer via your cell phone? How did you go about approaching the situation? While scammers connect most with people over the phone, how successful are they at stealing people’s money via this method? What’s one piece of advice you would give to your fellow classmate/colleague who’s trying to avoid falling prey to a scam call? Click here for the ready-to-go slides for this Question of the...

Question of the Day: What percent of Gen Z expect to bank with a tech company (e.g., Apple) rather than with a traditional bank?

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May 17, 2018
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Question of the Day, Checking Accounts, Personal Finance
Answer: 44%   Questions: Why do you think almost 50% of Gen Z would choose to bank with a technology company they’re familiar with rather than a brick and mortar bank? What do you predict will happen to traditional banks within the next 10 years? Explain your answer. Would you be comfortable banking with a company like Google or Amazon instead of a traditional bank? Why or why not? Click here for the ready-to-go slides for this Question of the Day that you can...

Question of the Day: What state has the highest percentage of jobs earning more than $15/hour?

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May 16, 2018
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Question of the Day, Career, Research, Chart of the Week
Answer: North Dakota Question:  Any guesses on why North Dakota has so many $15/hour jobs? [Hint: It comes out of the ground and rhymes with fail spoil]? Would you consider moving to an area based on the availability of high paying jobs? Why or why not?  Do you think there is a relationship between the unemployment rate and average wages in a given state? Explain.  Click here for the ready-to-go slides for this Question of the Day that you can use in your...