Jan 26, 2020
Question of the Day, Behavioral Finance, Purchase Decisions, Budgeting
Hat tip to Nick Maggiulli of Dollars and Data blog for highlighting this research from .
Treating yourself (on occasion)
Buying extra time
Paying upfront (i.e. all-inclusive vacations)
Spending on others
What are ways that you spend money that bring happiness to you? Do they fit into any of these five categories?
Why do you think that researchers found that "buying experiences" might create more happiness than buying "things?"...
Jan 22, 2020
Question of the Day, Insurance, Budgeting
16 year olds: 25.6%
17 year olds: 49%
18 year olds: 60.9%
When did you get your driver’s license OR when do you plan to get your license?
What factors determined/will determine when you get your license?
When it comes to auto insurance, do you think the cost of insuring a 16 year old is higher or lower then insuring an 18 year old? Explain your answer.
What has been the overall trend in the percentage of teens with driver's licenses over the past 40-50 years? What...
Jan 21, 2020
Behavioral Finance, Question of the Day, Budgeting
Do you have a budget? Are you able to stick to it all of the time/some of the time/none of the time?
How would you answer this question for yourself: What are the purchases that cause you to overspend?
Take 2 or 3 items from the top 10 list and explain why that specific item leads to overspending.
Explain strategies that you could use to control spending in those categories.
Click here for the ready-to-go slides for this Question of the...
Jan 20, 2020
Question of the Day, Student Loans
Answer: 65% of Class of 2018 had student debt when they graduated [latest data available from TICAS] with an average debt of $29,200
Why do you think that so many students need to take out student loans to pay for college?
What are other ways that students can pay for college?
Do you think taking on student debt is a positive or a negative? Develop a list of pros and cons.
How would you compare it to credit card debt or auto loans?
Here's the ready-to-go slides for this...
Jan 19, 2020
Question of the Day, Insurance, Research
Answer: Improve credit score by one tier can reduce auto insurance rates by 17%
Why do you think that having a higher credit score (a measure of how you manage credit) would lower your car insurance rates?
Used cars also can help you save on your car insurance. Why do you think insurance companies give you a discount if you drive a used car?
If the average auto insurance policy is $1,502 (much higher for young adults), how much could you save (in $) if you raised your...
Jan 15, 2020
Question of the Day, Taxes
Did you know that most people have to file tax returns for BOTH federal AND state income taxes? Listed below are 7 states that do not (as of 1/10/2020) have state income taxes.
Answer: 7: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming
Find the top tax rate for your state here:
Note: Tennessee and New Hampshire tax investment income.
How does your state's tax rate compare to other neighboring states?
Do you think that states that...
Jan 14, 2020
Investing, Question of the Day, Index Funds
Answer: AMAZON by a long shot!
Reviewing the chart, how much would your $100 investment five years ago have grown if you had invested in...
The overall stock market (S&P 500)?
Would you have been better off choosing between these 2 companies or just buying the overall stock market through an index fund?
Why do you think that Amazon has performed so much better than Walmart? (Hint: Do you think that online ecommerce is growing faster than “bricks and...
Jan 13, 2020
Student Loans, Question of the Day, Credit Cards, Research
Student loan - $1.5 trillion
Auto loan - $1.32 trillion
Credit Card - $0.85 trillion
Which type of credit has grown the fastest from 2004-2019? Why do you think this is the case?
Using the chart, estimate the growth rate (in trillions of dollars) between 2004-19 for student loans, auto loans and credit cards.
What impact did the Great Recession (2008-09) have on debt levels? Do you think people tend to borrow more or less when a recession occurs? ...
Jan 12, 2020
Career, Question of the Day, Research
Answer: About 50%
Marketplace audio (1:27):
According to the audio, the last decade was the first that didn't have a __________________.
What was the average pay increase across all workers?
While 1/2 of workers may not have received a pay increase, what are other ways that companies may have helped their employees other than raising their pay?
What can you do as a worker to increase the chances that you get a pay increase?
Here's the ready-to-go slides for this...
Jan 08, 2020
Credit Scores, Question of the Day, Credit Cards
Answer: 224 points (from 599 to 375)
Explanation: Your score sank 224 points. A credit card in collections means your credit score is now in the high-300s.
Why do you think not paying your credit card bill for months has such a big impact on someone who is new to credit?
What do you think are the reasons that people can’t pay their credit card bills? Identify at least 3 reasons.
What are strategies you can come up with to make sure that you are always in a...
Jan 07, 2020
Investing, Question of the Day, Stocks
With a new decade upon us, let's look back at the 2010s to see which stocks were on the best and worst performing lists.
Kraft/Heinz: Worst (58% price decline)
Netflix: Best (+3787% price increase)
Under Armour: Worst (60% price decline)
Ulta Beauty: Best (+1206% price increase)
Why do you think that Netflix and Ulta Beauty have done so well as stocks over the past decade?
Why do you think that Kraft Heinz and Under Armour have performed so poorly?
Jan 06, 2020
Purchase Decisions, Question of the Day, Compound Interest
Which would you prefer: a 4 year car loan with $400/monthly payment or a 6 year loan with $300/monthly payment? Why?
Why do you think that most car buyers focus on the monthly payment instead of the overall interest cost when they take out an auto loan?
Complete these sentences:
The longer the term of an auto loan, the higher/lower (circle one) the interest cost (assuming it's not a 0% APR loan).
The longer/shorter (circle one) the term of an auto...
Jan 05, 2020
Behavioral Finance, Question of the Day
Do you think that making New Year's resolutions are a good idea? Explain.
How would you categorize the items that typically show up on a list of popular resolutions?
Do you have any New Year's resolutions? If so, what are they? If not, why not?
What are some strategies that you can use to make resolutions stick? Have you had success with these in the past?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers...
Jan 05, 2020
Question of the Day, Credit Cards, Research
Holiday shopping can sometimes mean credit card debt, so this question takes a look at the annual interest cost a family pays when they carry a balance on their credit card.
Methodology: Average household credit card debt of $8,707 (WalletHub analysis) multiplied by an average credit card interest rate of 17.30% (creditcards.com)
Why do you think that so many Americans have credit card debt, meaning they don’t pay the full balance on their credit card...
Jan 02, 2020
Activities, Question of the Day, FinCap Friday, Podcasts, Interactive
We've been posting "Best of 2019 Lists" over the holiday period. In case you missed them, here are links to the posts that list the most popular NGPF resources in each of these categories. Here's to hoping you find some gems here that you can use when classes start up again. Envelopes please...
Question of the Day
Arcade Games and Interactive Library
Product Releases [summary of all of the new NGPF resources developed in 2019]
Thank you to...