Question of the Day: What percent of 14-22 year olds have a bank account?
Answer: 67%
Questions:
Do you have a bank account? Why or why not?
If so, at what age did you open it? How do you use your bank account?
What do you think the 1/3 of 14-22 year olds who don't have a bank account do with their money?
This study surveyed 14-22 year-olds. At what age in this range do you think that more than 50% have a bank account? 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 American...
QoD: What percentage of students who started college in 2012 graduated within 6 years?
Hat tip to Beth Tallman for suggesting this question. Thanks!
Answer: 58% overall
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 students do not finish college?
What personal traits do you think it...
QoD: What is the discount rate on private college tuition projected to be in 2019?
As award letters start flooding student inboxes this month and next, we thought this was an important question for students to know the answer to.
Answer: 39%
Questions:
What criteria do colleges use to determine the amount of the discount that a student might receive?
Rather than list a discount percentage on your award letter, colleges provide financial aid and grants to reduce the cost of tuition. Why do you think they rarely use the word "discount" anywhere in their financial aid...
QoD: 90% of credit card company terms and conditions require reading at what grade level?
Answer: College
Questions:
Do you think it's important to read the terms and conditions for financial products? Why or why not?
Did you ever wish that you had read the terms and conditions for anything that you have ever bought? Explain.
What do you think are some terms that you would want to know about before signing up for a credit card?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (from Visible...
QoD: What industry sector is least trusted by consumers?
Answer: Financial Services
Questions:
Why do you think that trust is important when it comes to a relationship between a company and its customers?
Do you trust financial services companies (banks, credit card companies, student loan providers)? Why or why not?
Why do you think that others have so little trust in financial services companies? Are there examples of news stories that you can recall?
Which of these industry groups listed above do YOU trust the most? Why?
Here's...
QoD: According to LinkedIn, what was the top "soft skill" that employers were looking for in 2018?
Answer: Creativity
Questions:
In your own words, what is creativity?
What jobs do you think think require creativity? Explain what parts of those jobs require creative thinking.
What's an example of a time that you demonstrated creativity either in school or on the job?
Which of the five soft skills would you consider strengths? weaknesses?
What are examples of jobs that require persuasion (#2 on the list)?
Here's the ready-to-go slides for this Question of the Day...
QoD: What's the top financial app in the App Store: Venmo, Cash App or PayPal?
Answer: Cash App
From App Annie (3/1/19):
Questions:
Why do you think these person-to-person apps are so popular (top 3 on the list)? When do you think people find these apps most useful?
Do you have any finance apps on your phone? Why or why not?
What do you think are the most important criteria in choosing which finance apps to use?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (Motley...
QoD: What was the highest grossing movie in 2018?
Answer: Black Panther with $700 million in ticket sales
Questions:
How many of the top-10 movies did you see in 2018?
How many did you watch at the theater? on a streaming service?
How do you decide which movies to watch while in the theaters or on a streaming service?
Despite the fact that streaming services are becoming increasingly popular, ticket sales at movie theaters hit a record high in 2018. Why do you think this is the case?
Click here for the ready-to-go slides for...
Interactive Monday: What are the rental costs in your community?
Hat tip to Joy Tavano of North Kingstown High School (RI) who shared this resource in a recent PLC with Jessica. The site, rentdata.org, has detailed information about average rents in every county in the U.S. and better yet provides the information on a historical basis back to 2006. Given that housing costs are typically the largest cost component in a budget, this interactive provides students with a sense of the cost of living in their community. For students who consider moving to...
QoD: Which banks have higher interest rates on savings accounts: online banks OR banks with physical locations?
Answer: Online banks
Questions:
What is the difference in average savings account interest rates between online banks and "brick and mortar" or physical banks?
How much MORE would you earn in a year if you had $1,000 saved at an online bank compared to a “bricks and mortar” bank?
Despite offering much higher interest rates, online banks only have about 8% of bank deposits. Why do you think they don't get more deposits?
Would you ever bank with an online bank? Why or why not?...
QoD: How much did consumers pay in overdraft fees in 2017 (in billions)?
Answer: $34.3 billion
Here's how the average fee has grown over the past decade:
Questions:
In your own words, what does it mean to overdraw your account?
Why do you think that banks collect so much in overdraft fees from consumers?
Young people are particularly susceptible to these fees. What steps can you take to avoid these pesky fees?
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (Wealth...
QoD: What percent of overall grocery purchases are ordered online?
Answer: 3%
Market share of largest online grocers in 2017 (Supermarket News)
Amazon - 12.5%
Walmart - 11.1%
Kroger - 6.4%
BlueApron - 5.5%
Peapod - 5.3%
Questions:
Why do you think the number of people purchasing groceries online is so low? What is different about groceries compared to electronics or apparel which have much higher percentage of online sales?
What are the advantages and disadvantages of purchasing groceries online? Assume that most services charge a fee of $8-$10 per...
Interactive Monday: Which colleges are best at income mobility?
From NY Times The Upshot comes an interactive tool, Economic Diversity and Student Outcomes at America’s Colleges and Universities.
As college acceptance letters and financial aid awards roll in over the next few months, this interactive provides information on economic diversity as well as income mobility at thousands of universities across the U.S. This interactive comes from the analysis of tax records and college records for millions of people.
Details on the study:
The...
Question of the Day: What is most cited reason people give for not having a bank account?
Answer: Do not have enough money to keep in account
Cited = named as a reason for not having an account
Main = percent of respondents that listed the reason as the main reason for not having an account.
Questions:
What's the minimum amount you think you need to have a bank account?
Do you think it’s important to have a bank account? Explain.
The number 2 item cited for not having a bank is "don't trust banks." What do you think leads to this distrust?
Respondents also indicated...
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