Date Filter: 2015/06/

How to Invest Like LeBron James

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Jun 30, 2015
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Personal Finance, Index Funds, Investing, Mutual Funds, Financial Literacy, Stocks, Current Events, Video Resource, Front Page Spotlight
Andrew and Jessica have had an epic time at the FBLA National Conference in Chicago. We’ve loved the enthusiasm shown by both the student competitors and their advisors. For those who attended our Tuesday or Wednesday workshop, “How to Invest Like LeBron James,” we promised you the slides, and we’re delivering here. The live polling is closed, but you could set up your own poll for free (like we did), using Poll Everywhere (not an official endorsement — just the...

A Tale of Two Credit Scores: A Case Study

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Jun 30, 2015
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Credit Scores, Activity, Credit Cards, Case Study, Credit Reports, Excel Activities
I have been working on a case study to help students understand credit scores.  Let me know what you think about my draft. Contact me at tim@nextgenpersonalfinance.org if you have any comments or just want the answer key: A Tale of Two Credit Scores: A Case Study Staring at the two student files on your desk, you know that you only have a few minutes to review them before your afternoon meetings. Your role as peer financial advisor provides you not only with the opportunity to help others but...

Activity Idea: Putting A Face On What It Means To Be In Debt

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Jun 29, 2015
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Activity, Credit Cards, Student Loans, Current Events
I often hear my high school students remark “why would anyone ever allow themselves to be in debt?” when they see the costs and consequences of being saddled with debt.  Unfortunately, most people don’t plan to be in that situation…life just happens. I stumbled upon this website, the Debt Project, that I thought would help to put a human face on debt but also help students to understand the life events and decisions that help lead to indebtedness.  The Debt Project has portraits and...

Two NBA Stars Provide Personal Finance Advice: Who Would You Listen To?

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Jun 27, 2015
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Budgeting, Investing, Current Events, Video Resource, Audio Resource
Here’s a six minute audio interview with Adonal Foyle from NPR’s All Things Considered.  Here is an excerpt: I got my master’s in sports psychology, and my thesis was on retirement experiences of NBA players. I went out and spoke to about 10 to 12 different players, and I talked to them about their transition. And one of the things we talked about was: If you were to do it again, what are some of the things that you would do differently? And almost all of them talk about financial...

Question: How Can Money Increase My Happiness?

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Jun 27, 2015
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Behavioral Finance, Question of the Day, Research, Current Events
Hat tip to Jonathan Clements for citing this 2011 research that delves into this question.  The research is behind a paywall, but this Atlantic article summarized three of the key findings: A new exciting paper in the forthcoming Journal of Consumer Psychology makes the case that money should buy us happiness, but most people aren’t spending it right. On the edge of psychology and economics, Profs. Daniel Gilbert, Elizabeth Dunn and Timothy Wilson lay out eight principles of spending...

Technology: Is It Possible To Get Cash From An ATM Without A Debit Card?

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Jun 27, 2015
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Question of the Day, Checking Accounts, Debit Cards, New Products
g Answer:  If you are a customer of a Philadelphia-based bank, you might be able to… From Philadelphia Business Journal: A local bank unveiled ATMs this week that no longer require a debit or ATM card or PINs for access. The product comes from WSFS Bank, subsidiary of WSFS Financial Corp., the $4.9 billion-asset bank based in Wilmington, Del. WSFS Mobile Cash is a new feature on the bank’s mobile banking app that lets you get cash from any of its branch ATMs with a smart phone QR code....

Parental Advice: Use Everyday Events to Teach Kids About Money

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Jun 27, 2015
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Credit Scores, Activity, Credit Cards, Checking Accounts, Parent Conversations
NGPF was recently featured in MoneyWatch article: “When my daughter graduated elementary school and got her first phone, I took the chance to dive into the phone bill,” says Tim Ranzetta, founder of NextGenPersonalFinance.org, which offers personal-finance educational materials for high-school and college students. With his daughter, now age 12, Ranzetta emphasized that data usage drives the total monthly cellphone bill, which is why it is worth using Wi-Fi networks whenever they are...

Classroom Experiment: The Ultimatum Game

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Jun 27, 2015
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Activity, Behavioral Finance, Current Events, Video Resource
This might be a fun classroom experiment to demonstrate behavioral aspects to finance that prove how irrational we can be.  From PBS NewsHour: Let’s play the ultimatum game. Here’s how it works: I give your friend $20. He has to share a portion of his $20 with you and can give you as much as he wants. If you accept the offer, you get that amount, and he keeps the rest. If you turn down his offer, both of you get nothing. Let’s say he offers you $2. Would you take it? Economics...

Chart of the Day: Student Loan Growth

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Jun 27, 2015
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Paying for College, Student Loans, Current Events, Chart of the Week
From the Economist: Questions for students: What is average student debt (see left hand axis) and %age of students who graduate with loan debt (right hand axis) in 2015? How would you describe the recent trends for both of these metrics? Taking the average student debt at graduation of $35,000, what would be the monthly loan payment, assuming a 10 year term?  Here is a handy student loan repayment calculator. Check out this NGPF activity to answer the question “How Much Should I Borrow for...

June Survey Results: How do you assess?

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Jun 25, 2015
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Survey Results
Each teacher has a plan for how she or he will assess student learning, either at the end of the term, the unit, or the day. You know how you like to test, how often, and in what format. Through our July survey, we collected responses from a wide array of personal finance educators, and now we gladly share these survey results (about assessments) with you. View full survey results here!...

July Flash Survey: How do you use technology?

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Jun 25, 2015
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Flash Surveys
Collectively, we’ve spent a lot of time in schools, and we know some schools are using 1:1 computing with self-paced playlists of student work. On the other hand, we know at other schools, teachers need to put themselves on the waiting list for a single projector or laptop cart. Our NGPF curriculum is adaptable to whatever your computing power, but we’d love to hear what you’re working with. Take this survey and enter yourself in our raffle for a $50 Amazon gift card. ...

Question: What’s the Average Number of Times a Customer Overdraws Their Checking Account?

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Jun 17, 2015
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Question of the Day, Checking Accounts, Current Events, Chart of the Week
Answer:  6.7 (projection for 2015) From Wall Street Journal: Most surprising quote in this article about the decline in bank overdraft fees: “At the end of the day, these people are our customers and we’re treating them with a got-you product,” said PNC Financial Services GroupInc. Chief ExecutiveWilliam Demchak at a May investor conference. ———— Check out the NGPF Activity on Checking Account Fees ...

Question: What is the Average Hourly Rate for Babysitters?

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Jun 16, 2015
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Career, Question of the Day, Current Events
Average = $13.44 For your students who want to benchmark their pay in their region of the country (from MarketWatch), check out this map: ...

Chart of the Day: How Much Student Debt Do College Graduates Have?

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Jun 16, 2015
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Paying for College, Research, Student Loans, Current Events, Chart of the Week
Take with a grain of salt as the data tracks students who began college in 2003 and tracked their debt levels six years later (from NY Times): ...

Top 10 NGPF Lessons For the 2014-15 School Year

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Jun 16, 2015
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Paying for College, Budgeting, Credit Cards, Investing, Savings, Checking Accounts, Purchase Decisions, Current Events
With our first school year winding down (or already concluded), I wanted to highlight the most popular NGPF lessons, as measured by teacher views.  As for patterns, the most popular lessons are drawn from a variety of topics, however teachers tended to gravitate towards our “Basics” lessons which will provide students with good foundational knowledge.  So, without further ado, our top 10 list… #10: Online and Mobile Banking #9: Saving Basics #8: Investment Basics #7: Paying for College...

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