Category: Research

Tim Talks to National Endowment for Financial Education (NEFE) CEO Ted Beck

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Jun 08, 2018
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Personal Finance, Podcasts, Advocacy, Current Events, Research
With retirement looming on the horizon and a successful decade-plus tenure at leading non-profit, NEFE, I wanted to get Ted Beck on the podcast to reflect on his experience as a leader in the field. There is so much we can learn from his perspectives on curriculum, teacher PD, research and innovation. He shared his insights on the major achievements as well as the opportunities that lie ahead in the field. Ted’s legacy of creating opportunities for collaboration, instilling a sense of...

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 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 percent of adults (over 22) live within 10 miles of where they went to high school?

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May 29, 2018
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Budgeting, Research, Current Events
Answer: Almost 50% Questions: Do you plan to live within 10 miles of where you live now? Why or why not? Why do you think those who move away are more satisfied with the neighborhood they live in? What do you think are the reasons that people like to stay close to their childhood home as they grow up? Do you think this is a positive or negative when it comes to the overall economy?  Click here for the ready-to-go slides for this Question of the Day that you can use in...

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'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'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...

Infographic: How is technology changing the credit scoring process?

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May 16, 2018
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Credit Scores, Credit Cards, Current Events, Research
Visual Capitalist is out with their 2nd infographic demonstrating how tech is changing the credit landscape. It highlights two major changes in the credit scoring system which are being driven by "Big Data." These tweaks increase the predictive ability of whether a consumer's will repay a loan. Here they are: 1) Trended data 2) Alternative data Questions: How is trended data and alternative data different from the current credit scoring system? Analyze three of the alternative data sources...

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...

Question of the Day: What do cardholders fear most when using a credit card?

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May 15, 2018
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Credit Cards, Question of the Day, Research
Answer: Security concerns (skimming, ID theft), noted by 26% of respondents Behind the numbers (from Credit Cards Explained): Questions: Do you know anyone who has had security problems with their credit card?  Who is responsible for the losses if someone else runs up big bills on YOUR credit card?  What is/will be your biggest fear when using a credit card? How can people overcome their fears of #2 (accruing too much interest) and #3 (relying too much on credit)?  Click...

Question of the Day: What is the #1 source of information for high school seniors when it comes to paying for college?

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May 14, 2018
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Paying for College, Question of the Day, Research, Student Loans
Answer: Teachers and counselors  Here's the top 3 sources: Teachers and counselors: 65% College websites/brochures: 57% Speaking with family members, other than parents: 46% Questions: What sources have you turned to/will you use in order to learn more about college costs?  Which source has been most helpful to you? Least helpful? Have you received conflicting advice about college? How do you deal with that situation where you are getting differing advice from these sources? ...

Question of the Day: What percent of high school seniors feel unprepared to manage the cost of college?

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May 13, 2018
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Paying for College, Question of the Day, Research
Answer: 39%  Questions: How prepared do you feel for paying and managing the cost of college? Explain your answer. If you feel prepared, what helped get you to this stage?  What steps can you take to be better prepared for this decision?  What are three most burning questions you have about paying for college? Be specific.  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers...