Category: Savings

Question of the Day: What is the most popular New Year's resolution for 2019?

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Jan 06, 2019
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Question of the Day, Savings, Behavioral Finance
Answer: Exercise more Here are the top five: Questions: Do you think that making New Year's resolutions are a good idea? Explain.  Do you have any New Year's resolutions? If so, what are they? If not, why not?  What are some strategies that you can use to make resolutions stick? Have you had success with these in the past?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from the Denver Channel): ...

FinCap Friday: Do We Have Your Interest Yet?

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Dec 20, 2018
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FinCap Fridays, Savings, Credit Cards, Student Loans, Stocks
The Federal Reserve hiked interest rates earlier this week which provided an awesome opportunity for a FinCap Friday focused on that event. How do the decisions of this august body percolate through the economy? Check out this FinCap Friday including Yanely's awesome explainer video to learn more:  --------------------------- Looking for more FinCap Fridays? There's more where this came from! Check out the other seventeen here. ...

Question of the Day: What financial habit do almost 2 out of 3 senior citizens wish they had done more of when they were younger?

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Dec 11, 2018
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Question of the Day, Savings, Research, Behavioral Finance
Answer: Save money Questions: Why do you think so many seniors wished they had saved more? Without savings, what income does a retired senior citizen have to live on?  Are you a good saver? If not, do you have any ideas that can help you become one?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (National Bureau of Economic Research): We asked persons aged 60 to 79 whether, if they were given the chance to...

Question: How many times were baby boomers unemployed between the ages of 18-48?

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Dec 02, 2018
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Savings, Career, Question of the Day, Research
Answer: 5.6 periods A great question demonstrating the importance of having an emergency savings account.  Questions: What do you think are some of the reasons that people have periods of unemployment? Do you think it's easier to be out of work when you are in your 20s or 40s? Explain. How do people support themselves when they don't have a job?  What do you think are steps that you can take to reduce the odds that you are out of a job?  Here's the ready-to-go...

How Can I F.I.R.E. Up My Students About Retirement?

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Nov 26, 2018
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Retirement, Index Funds, Video Resource, Investing, Savings
Looking for ways to get your students thinking about retirement? Introduce them to the F.I.R.E. Movement! That is the Financial Independence Retire Early Movement. Why do I think this movement is important: It's a counter-narrative to our consumerist society by focusing on extreme savings. We read so many stories about maxed out credit cards, why not expose your students to tales of young people saving 60-70% of their income? It helps students understand the concept of passive income and...

Question of the Day; What is the median savings account balance for Americans under 35?

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Oct 09, 2018
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Savings, Question of the Day, Research
Answer: $2,000 Questions: Explain why there is such a big difference between the median and average for each age group?  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 2016 Survey of Consumer...

Chart of the Week: How do banks react to increases in interest rates? (Hint: You don't want to be a borrower!)

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Oct 09, 2018
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Savings, Credit Cards, Chart of the Week
I have noted this trend before but to see it all on one graph makes it even more powerful. As the Federal Reserve has increased the Federal Funds rate target, the cost of borrowing has risen in lockstep while interest earned from savings accounts still hovers close to zero. In other words, costs to borrow typically have variable rates which automatically adjust upwards in a rising interest rate environment while interest on savings accounts are extremely slow to adjust upwards as banks seek to...

Question of the Day: Children with bank accounts are ______ times more likely to graduate from college than those that don't have bank accounts.

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Sep 17, 2018
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Savings, Paying for College, Question of the Day
Answer: 4 times more likely Questions: Do you have a bank account currently? Why or why not? Why do you think there is a link between having a bank account and graduating from college?  What are the reasons that young people might decide NOT to open a bank account? What do you need to open a bank account, if you are under the age of 18?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers...

FinCap Friday: Famous and Frugal

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Sep 06, 2018
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Budgeting, FinCap Fridays, Current Events, Savings
With the U.S. Open tennis tournament in full swing and the NFL season about to start, we thought students would enjoy learning about athletes and other celebrities who DO manage their money well. Learn more in the fourth installment of FinCap Friday, Famous and Frugal: New to NGPF's FinCap Friday? It's a fun way to engage your students with current events and includes: A five question Kahoot! A 90 second video providing details about the current event and explaining why it matters to students...

FinCap Friday: The Raging Bull

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Aug 30, 2018
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Investing, Question of the Day, FinCap Fridays, Stocks, Compound Interest, Current Events, Savings
We know your students have a fascination with the stock market. Use the market's recent record-breaking performance to start a discussion about the pros/cons of investing. Learn more in the third installment of FinCap Friday, The Raging Bull.  For a quick refresher, our FinCap Fridays include... A five question Kahoot! A 90 second video providing details about the current event and explaining why it matters to students A discussion prompt Activity ideas to extend the learning...

What I'm Reading This Weekend (August 11-12)

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Aug 10, 2018
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Personal Finance, Savings, Parent Conversations, Economics, Current Events
Personal finance Banks and credit unions are talking about providing financial education as a competitive “weapon.” Is this good or bad? Buying a car? Here is a quick video reminder of warning signs indicating you should walk away. Parenting, Teens, and College Parents, especially mothers, are teaching their kids about money. Is the tide turning? Here are two studies/articles that suggest perhaps they are. One from Current suggests that teens save for goals, and according to...

Looking to use more infographics in your classroom? Here's a few good ones to use (and the brain science behind it)

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Aug 09, 2018
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Credit Reports, Investing, Personal Finance, Savings
Do your students seem very engaged with the infographics that you are using in your lessons?  Here's the brain science behind why they have become so successful as a teaching device. Some of the more interesting factoids from this infographic (of course, it's an infographic about the power of infographics): Information overload is real: Color graphics make us 80% more willing to read: When providing directions, illustrations (or YouTube) videos are a must: ---------------------- We...

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...

What I'm Reading this Weekend......May 26-28

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May 25, 2018
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Current Events, Personal Finance, Student Loans, Economics, Savings, Paying for College
A long weekend so the list and a couple of the articles are a bit longer. Savings and Wealth I plan to dig into this one more this weekend from an NYT opinion piece by the authors of a study on wealth inequality and families. (There is a link to their paper in the article, if you want to really take a deeper dive.) Think having a million dollars in the bank makes you rich? Not according to bankers: bankers define rich as $25 million. The number of 401k millionaires at the end of the first...

Digging Deeper: Retirement's Difficult Choices (Part 1)

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May 21, 2018
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Retirement, Personal Finance, Budgeting, Savings
  I have been noticing many articles in recent weeks discussing a wide array of issues surrounding retirement and end of life decisions, from when to stop working (if you stop working), when to draw Social Security, where to live, and even planning your own funeral! I am not sure if there are more articles out there given that 10,000 baby boomers hit 65 every day, or if I am just much more attuned to them as my husband and I are getting serious about planning the logistics of our...