Category: Research

QoD: What can save you the most when it comes to auto insurance: 1) Improving credit score 2) Driving a used car 3) Paying for policy in advance?

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Jan 19, 2020
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Question of the Day, Insurance, Research
Answer: Improve credit score by one tier can reduce auto insurance rates by 17% Questions: 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...

QoD [UPDATED]: Excluding home loans, what are the three largest debts for American consumers?

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Jan 13, 2020
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Student Loans, Question of the Day, Credit Cards, Research
Answer:  Student loan - $1.5 trillion Auto loan - $1.32 trillion Credit Card - $0.85 trillion Questions: 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? ...

QoD: What percent of Americans got a raise in 2019?

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Jan 12, 2020
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Career, Question of the Day, Research
Answer: About 50% Marketplace audio (1:27):  Questions: 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...

Credit Card QoD: How much does the average household with credit card debt pay in interest cost annually?

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Jan 05, 2020
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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.  Answer: $1,505 Methodology: Average household credit card debt of $8,707 (WalletHub analysis) multiplied by an average credit card interest rate of 17.30% (creditcards.com) Questions: Why do you think that so many Americans have credit card debt, meaning they don’t pay the full balance on their credit card...

Updated QoD: How much do you need to earn to be considered middle class?

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Dec 17, 2019
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Question of the Day, Budgeting, Research
Answer: Between $41,498 to $123,874 Note: Pew Research methodology assumes middle class = 67% to 200% of median household income Click on the map below to see what your state's median income details are: Questions: Why do you think these figures vary so much state by state? Can you suggest other ways to measure the middle class other than by income? Do you think the size of the middle class has changed over time? Why or why not? Do you think that people earning the same income can...

Updated QoD: What percentage of students who started college in 2013 graduated within 6 years?

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Dec 16, 2019
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Question of the Day, Paying for College, Student Loans, Research
Answer: 60% Here's the earlier QoD blog post that had data for the 2012 cohort. Slides have been updated to reflect up-to-date information. Questions: Which school type has the lowest graduation rates? Which school type has the highest graduation rates?  What might explain these large differences in graduation rates? What has been the trend in graduation rates over the last 3-4 years for the public and private non-profit colleges?  What do you think are the leading reasons that...

NGPF Podcast: Georgetown's Martin Van Der Werf on the ROI of a college education

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Dec 13, 2019
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Paying for College, Podcasts, Research, Student Loans
I had a great conversation with Martin Van Der Werf from Georgetown's Center on Education and the Workforce. We discussed his center's report "A First Try At ROI" which analyzed  the return on investment (ROI) for over 4500 colleges. He shares the key findings and insights from this report and how families should use this information as one input in the college selection process.  Details: 0:00~1:47 Introduction 1:47~3:38 Considering the ROI of attending college  3:38~5:14 How...

QoD: What percent of consumers overdraw their checking accounts annually?

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Dec 10, 2019
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Checking Accounts, Question of the Day, Research
Answer: 30% Questions:  Why do you think that so many people overdraw their checking account?  What steps can YOU take to avoid overdrawing your account? Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (CFPB study cited by Bankrate): CFPB study: "A small group of consumers pay most of these fees. In a given year, only 30% of consumers overdraw their checking account. The 8% of consumers who overdraft more than 10...

QoD: UPS vs. FedEx: Which company's stock has performed better over the past five years?

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Dec 09, 2019
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Investing, Index Funds, Research
The unsung heroes of the holidays.  Answer:  Questions: Reviewing the chart, how much would your $100 investment five years ago have grown if you had invested in... UPS? FedEx? 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? What research could you do to find out what factors have impacted the stock prices for FedEx and UPS?  Here's the ready-to-go slides...

QoD: Arrange these apps from most to least downloaded in 2019: Instagram, TikTok, Facebook

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Dec 08, 2019
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Current Events, Research
Answer: TikTok Facebook Instagram Questions: Why do you think that TikTok has become so popular? What does it do better than other apps?  What would be the top 3 apps that you have used in 2019 in terms of screen time?  Since TikTok has become so popular, do you think that Facebook will try and copy their features? If so, do you think it will be successful?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the...

What's the Value of A Personal Finance Course? [UPDATED]

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Dec 04, 2019
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Personal Finance, Research
 Priceless!  As more states consider increasing access to personal finance, we should expect advocates to be questioned about the value of a personal finance course or in investment parlance, "What's the Return on Investment (ROI)?"   We know there is lots of academic value to the course as it develops the following skills: Analytical thinking Problem-solving Teamwork through group projects Decision-making in ambiguous situations where there may not be one right answer...

Map of the Week: What's the most iconic restaurant chain founded (or headquartered) in your state?

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Nov 25, 2019
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Chart of the Week, Budgeting, Research
Hat tip to Jadrian Wooten, Penn State educator, who tweeted about this recently:  It's Thanksgiving week, so thoughts turn to food. Let's just enjoy the map and I can hear the debates going on in your classroom about your student's favorite restaurant chain.   Wondering how the decisions were made on what chain to list on the map? --------------------- Food is one of your students' largest expense. Which snack brands are most favored by your students? We have a Question of the...

QoD: What's the cost of Thanksgiving dinner for ten in 2019?

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Nov 20, 2019
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Budgeting, Question of the Day, Research
Answer: $82.83 Questions: Assume you have an extra $10, what additional food items would you add to this list for Thanksgiving dinner?   Do online research to make sure you’re not spending more than $10. If you only had $53 to spend, what items would you choose from this list?  What are you thankful for this Thanksgiving season?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the...

QoD: How much money is spent on the internet every 60 seconds?

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Nov 19, 2019
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Question of the Day, Budgeting, Research
Hat tip to Yanely for pointing out this fascinating question. Answer: $996,596 Here's what else happens in an internet minute:  Questions: You guessed the answer as to how much is spent in a minute on the internet. Calculate how much is spent in an hour, a day, a month, and a year.  What are items that you buy over the internet? Do you the think shopping on the internet will increase or decrease in the next five years? Explain.  Here's the ready-to-go slides for this...

Throwback Tuesday QoD: How much will consumers pay in interest to credit card companies in 2019?

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Nov 11, 2019
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Credit Cards, Question of the Day, Research
Answer: $143 billion Average credit card debt of $830 billion (Experian study, 2019) multiplied by an average credit card interest rate of 17.27% (creditcards.com) Questions: Why do you think that so many Americans have credit card debt, meaning they don’t pay the full balance on their credit card statements every month? Does credit card debt carry a high or low interest rate? What ideas do you have on how you can avoid getting into credit card debt where you can't pay your balance off...