NGPF On-Demand: The Psychology of Saving
NGPF On-Demand is a professional development opportunity that allows teachers to deepen their content knowledge on their own schedule and at their own pace.
One of the 16 modules currently available is "The Psychology of Saving". In this module, you will identify hurdles to saving money and learn strategies to make saving easier.
Here are some highlights from the module:
Learn about the obstacles and cognitive biases that make savings difficult and share your learning with...
Question of the Day: How many Americans could not pay a surprise $1,000 bill using their savings account?
Answer: 38%
(Charging a credit card and pay over time, borrowing from a friend/family member, or taking out a personal loan)
Questions:
Are you surprised by this number? Why or why not?
What are some surprise expenses that could amount to $1000? What are some surprise expenses that cost more than $1000?
Between charging a credit card, borrowing from a friend, or taking a personal loan, what option is most costly? Why?
Click here for the ready-to-go slides for...
Podcasts In The Classroom: How Do You Think About Saving?
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After more than 400 teachers expressed interest in bringing podcasts into the classroom, we decided to build out a ready-to-use activity to fulfill that desire. This week's activity (you will be asked to Make a Copy when you click on the link) revolves around the topic of Saving and has incorporated 2-3 minute audio excerpts from the NGPF Podcast. Students will have the option to listen to Adam Carroll (Author and Producer of Broke, Busted, & Disgusted), JL Collins (Author of The Simple...
Best of 2020: Most Visited NGPF Unit Pages
By Tim Ranzetta
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Dec 23, 2020
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FinCap Friday, Credit Cards, Credit Reports, Investing, Math, Credit Scores, Savings, Paying for College
Our Unit Pages are the most visited pages on the NGPF website, which had over 5 million pageviews in 2020.
Why are these pages so popular? Teachers tell us it's because they can see all NGPF resources on a given topic (unit) on ONE page. So, whether you are looking for 45 or 90 minute lessons or just individual resources (activities, projects, FinCap Fridays, questions of the day, case studies or math activities), you can find them on the unit page.
Here were the unit pages that...
Question of the Day (Updated): What percentage of Americans can not cover a $400 emergency with cash/savings account emergency fund*?
Answer: 37%
*Ways of payment include cash, funds from savings account, or credit card transaction paid off next statement.
Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (Federal Reserve Board):
"Relatively small, unexpected expenses, such as a car repair or a modest medical bill, can be a hardship for many families. When faced with a hypothetical expense of $400, 63 percent of adults in 2019...
Virtual Adaptation - COMPARE: Types of Savings Accounts
There are multiple types of savings accounts that can help you meet your savings goals. In the activity COMPARE: Types of Savings Accounts, students will explore and compare four different types of savings accounts by first researching the basics of the accounts, then comparing those accounts at a specific bank or credit union, and finally applying what they have learned about those accounts to various savings goal scenarios.
At a time where many schools have transitioned to...
What's New With Savings (2020)
Covid Impacts the US Savings Landscape
Back in April, the Federal Reserve Board has temporarily lifted the six transaction (withdrawal) limit on savings accounts so that people could more readily access their savings if they needed to during the pandemic. However, there were no rules issued to prevent banks from charging fees for transactions in excess of six per month. Bottom line, for those lucky enough to have savings stashed, it is better to access those savings than to hit a retirement...
Question of the Day (UPDATE): What is the personal savings rate in the United States?
Answer: 19% (as of June 2020)
View the current Savings Rate
Questions:
How does the personal savings rate today (about 19%) compare to the rate during other periods of time? (In other words, is the rate lower, higher, or around the same?)
In our current historical moment, what would be your explanation of a 19% personal savings rate?
What has been the general trend for personal savings rate in the U.S. from 1960-2019?
What has happened to the personal savings rate during recessions...
NGPF Podcast: Jean Chatzky on personal finance in age of pandemic
It was a great honor to host Jean Chatzky recently on the NGPF podcast. Author, analyst, commentator, columnist, entrepreneur, educator and if you listen to the podcast...there's even more. Jean shares why she is so passionate about financial education, how her mother influenced her attitude about gender roles when it came to money and what happened when she traveled to Vegas to talk mutual funds with basketball star Dennis Rodman. In a lightning round of Q&A, Jean shares her insights on...
Question of the Day (Updated): What is the median savings account balance for Americans under 35?
Answer: $1,000
Questions:
Explain why the the median savings for each age group is lower than the average savings by age as indicated in the article?
What is the relationship between age and savings accounts balances? Explain why you think the relationship exists.
How much will you need to have in a savings account to feel secure (sleep well at night)?
Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (from 2019...
Question of the Day: What percent of teens started saving money by age 12?
Answer: 56%
From Lexington Law & TD Ameritrade Summer Jobs and Internships Survey:
"Teenagers are smart and they’re learning from the struggles of those that came before them. With this in mind, we can see they’re opening their financial horizons by both earning and saving earlier in their lives."
Questions:
What do you think are some of the benefits of saving?
Are you currently saving? Why or why not?
Do you have any savings strategies or habits that work for...
Question of the Day: For the two-thirds of kids who get an allowance, what's the average weekly amount they receive?
Answer: About $30/week
Questions:
If you currently receive an allowance...
Do you have to do chores to earn it?
Do you save any of it? For a larger purchase or save in a bank?
How long have you been receiving it?
If you don't receive an allowance currently...
Did you ever receive one?
Do you have a job and earn money that way?
What experiences do you have with earning and spending money?
Click here for the ready-to-go slides for this Question of the...
NGPF Podcast: Dwayne Hendricks on his path from the NFL to the classroom
From a storied college career at the U (University of Miami) to several seasons at the NY Giants (which included a Super Bowl Championship), Dwayne Hendricks has seen it all. He's also a humble and giving person who, if you don't ask the right question, would never let on about his athletic accomplishments. So when it came time to determine his life path at the end of his career, it should come as no surprise that he chose to impact young people as an educator and a coach. in this podcast,...
EdPuzzle Thursday: Emergency Funds & Side Hustles
EdPuzzle is a great platform to test for knowledge while students watch a video and learn remotely. We will be releasing new EdPuzzle videos here on the blog each week so that your students can answer questions that are directly embedded within engaging videos.
This week we have two EdPuzzle videos; one focusing on saving and one focusing on side hustles.
The first EdPuzzle video is titled "Emergency Fund Bootcamp" & reviews practical reasons for having an emergency...
Question of the Day: Consumers were invited to sign up for an automatic savings program...
What percentage enrolled when given the option to save $5/day?
What percentage enrolled when given the option to save $150/month?
Answer:
Consumers were invited to sign up for an automatic savings program:
30% enrolled when given the option to save $5/day
7% enrolled when given the option to save $150/month
Questions:
Have you ever set a savings goal? What were you saving for? What helped you achieve the goal?
Saving $5 per day or $150 per month results...
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