Category: Research

Research: Champlain College Report, MAKING THE GRADE, Highlights State Level Efforts on Finance Education at High School Level

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Dec 14, 2017
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Personal Finance, Current Events, Financial Literacy, Research
John Pelletier of Champlain College is out with his biennial report which grades states based on their state-level policies on delivering personal finance education at the high school level. The takeaway from his research: We still have a long, long, long away to go to ensure that all students have access to a full semester personal finance course before they graduate from high school.  Here's a summary of the report:  Although there have been improvements made since our last report in...

Question of the Day: What's the top social media app for teens?

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Dec 14, 2017
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Budgeting, Research
Answer: Instagram by a whisker. From Your Teen magazine: According to new research from the University of Chicago, the top social media apps for teens age 13-17 are Instagram (76% of surveyed teens use it) and Snapchat (75%). Facebook and Twitter are less popular, with 66% and 47% of the teens reporting that they use each app. According to many parents, even if their teens have Facebook or Twitter accounts, the accounts lie mostly dormant. Here's the ready-to-use slides for this...

Question of the Day: What's the average 401(k) balance for Americans?

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Dec 12, 2017
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Investing, Research, Retirement, Question of the Day, Current Events
Answer: $100,000 From Bloomberg (subscription): Questions: Do you think that $100,000 is enough of a "nest egg" for retirement? I know it is a long, long, long way off but how much do you think you will need to save for a comfortable retirement?  Is it better to start investing when you are young or to wait until you have the basics like a car and house taken care of before first? ----------- Here's the ready-to-use slides for this Question of the Day for your classroom. ------------...

Digging Deeper: The “Amazon Effect”

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Dec 11, 2017
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Purchase Decisions, Economics, Current Events, Research, Chart of the Week
Amazon is so good at keeping prices low, it’s changed how economists think about inflation I was immediately skeptical of the conclusion implied by this headline.  Yes, Amazon is pervasive in everyone’s lives at this point, but could one company permanently shift inflation? I asked my resident economist if this was really a thing. The answer? YES.  This IS a conversation economists are having.  The Quartz article cites Kevin Kliesen, an economist at the St. Louis Fed....

Question of the Day: What percent of Starbucks transactions come from mobile phones?

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Dec 11, 2017
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Checking Accounts, Payment Types, Question of the Day, Research
Answer: 30% From Visual Capitalist:  Here's another fun fact: Starbucks has over $1.2 billion in deposits loaded on Starbucks cards (from MarketWatch), more than many banks: ----------- Here are ready-to-use Question of the Day slides to use in your classroom.  ----------- Questions for students: Have you ever used your mobile phone to make payments? Describe the transactions you have made. What are the advantage of using your mobile phone for payments? Do you think it's easier to...

Question of the Day: Are inventors born or made?

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Dec 10, 2017
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Entrepreneurship, Question of the Day, Research, Current Events
Answer: New research finds that surroundings matter more than genes.  Here are excerpts from the Economist article about this ground-breaking research "Who Becomes an Inventor?": Inventors come from all walks of life: "ARE inventors born or bred? Using tax, patent and academic records, a new study by a quintet of economists follows the lives of 1m American inventors in exceptional detail, including their parental circumstances, the neighbourhoods they grew up in and the colleges they...

Question of the Day: What percent of Americans got a pay raise in the last 12 months?

Dec 06, 2017
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Career, Employment, Current Events, Research, Budgeting
Answer: 48% From Bankrate survey, reported in USA Today:  Thirty percent got a raise at their current job, 10% landed a better paying job and 8% scored both within the 12-month period. Thus, a total 48% of those surveyed saw their wages rise either at their current workplace or by switching jobs. The survey also demonstrated the importance of education as those with college education got bigger boosts as did those with higher salaries: Those with more skills are reaping bigger rewards. Only...

Question: What percent of Gen Z (14-21 year olds) have a payment app on their phone?

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Dec 05, 2017
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Checking Accounts, Research, Question of the Day, Survey Results
Answer: 48% Continuing on the theme of Gen Z financial behaviors, we found the answer to this question from the research firm, The Center for Generational Kinetics. Here were some additional interesting findings about their relationships with banks: Banks may be one of the major legacy institutions that will have to adapt in order to best fit Gen Z. The good news is that Gen Z is showing that they are taking responsibility for their financial situation, or they are at least aware that money and...

Digging Deeper: Cash Incentives Lift Test Scores

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Dec 05, 2017
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Teaching Strategies, Behavioral Finance, Current Events, Research
We are so excited to have Beth Tallman writing content for the blog. Her weekly column "Digging Deeper" will involve in-depth research that goes beyond the headlines resulting in a thought-provoking piece. Enjoy! ------------------------- I caught this headline in the Wall Street Journal (11/28/17) over breakfast and decided to read more about the research on CNBC and in Ben Leubsdorf’s blog. The research findings were pretty remarkable: Monetary rewards could have raised the PISA math...

Question of the Day: What percent of 14-21 year olds (Gen Z) are already saving for retirement?

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Dec 04, 2017
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Retirement, Current Events, Savings, Research
Answer: 12% From Center for Generational Kinetics 2017 study: In the national study, a surprising 12% of Gen Z is already saving for retirement. That is a much bigger number than one might anticipate given the youth of Gen Z in the study, who are ages 14 to 21. Diving further into the question, it was discovered that 35% of Gen Z plans to start saving for retirement when they are in their 20s. Questions: Have you thought about saving for retirement yet?  If yes, have you acted upon it? If...

What One Financial Habit Leads ToThe Highest Levels of Financial Well-Being?

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Dec 03, 2017
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Savings, Question of the Day, Research
Answer: Saving Simple message for students reinforced by this research data from CFPB: Want to feel financially secure? Develop savings habits early! Chart from CFPB's Financial Well-Being In America report: Questions: Between what levels of liquid savings is there the greatest differential in financial well-being? How much of a difference does having a friends/family safety net make to in one's financial well-being? Why do you think this is the case? What financial situation/statement leads...

Question: How much money is there in the world?

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Nov 28, 2017
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Economics, Question of the Day, Research, Savings, Chart of the Week, Stocks, Investing, Current Events
Answer: It depends on how you define money. From $7.6 trillion (physical currency) to $90 trillion (broad money).  This audio and infographic below are great ways to bring the concept of money to life and also help provide context to the size of the various markets and the U.S. position relative to the rest of the world.  Audio from Marketplace (hat tip to Sonia; duration, 3:19):  Questions:  What type of money is included in M0 (zero)?  What is included in the term...

Question of the Day: Which company is the largest employer in the most states?

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Nov 26, 2017
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Career, Question of the Day, Research, Current Events
Answer: Wal-Mart From Visual Capitalist:  ...

Question of the Day: What's the average cost of a Thanksgiving dinner for ten?

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Nov 21, 2017
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Budgeting, Current Events, Question of the Day, Research
Answer: $49.12 From Marketplace: Thanksgiving dinner is cheaper this year — but you might not be feeling it. The American Farm Bureau Federation pegs the average cost of a Thanksgiving feast at $49.12, a five-year low. The Federation has been doing price surveys on the same list of groceries for 32 years now, tracking the average cost of a modest, traditional meal for 10. And in case you wanted all the details: Here's the full shopping list, along with this year's average...

Question of the Day: What's the average credit score needed to rent an apartment?

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Nov 19, 2017
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Credit Scores, Question of the Day, Budgeting, Research
Answer: 650 From Rentcafe study:  "Rental applicants approved for an apartment in 2017 had an average credit score of 650, is the conclusion of our most recent study based on tenant screening data from RentGrow. Meanwhile, those that ended up on the rejected list had an average score of 538." Even more interesting is how the average credit score varies so dramatically based on location. Here's the ten most difficult markets to rent an apartment, based on the average credit score for...

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