Date Filter: 2016/02/

24 Hours of Personal Finance - Investing in Ravioli Den (Day 3)

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Feb 29, 2016
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Activity, Behavioral Finance, Investing, Stocks
Friday was Investing Day #3 at Eastside College Prep. My learning objectives today were to have the students experience the roller coaster psychology that comes from stock ownership. With over 57% of the class indicating “I think I can make investments that beat the market,” I thought it was time to introduce a little humility to the class. If all the data I could muster couldn’t convince students of the difficulty of outperforming the S&P500, maybe Jessica’s...

Debate This: Should All Students Be Eligible for Education Loans?

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Feb 29, 2016
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Paying for College, Student Loans, Teaching Strategies, Current Events
For teachers looking for a lively debate, this question should generate one! WSJ tackles this issue by calling on two experts to provide divergent viewpoints on the topic. Having students research this topic further will engage them in a way that a lecture or reading would not as they will have to grapple with questions like: Why are almost 1 in 5 students not able to repay their student loans? What does it mean to be “college-ready?” How do private and federal student loans...

Question of the Day: What Are Top 10 Jobs That Didn't Exist 5 Years Ago?

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Feb 29, 2016
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Career, Question of the Day, Research, Current Events, Employment
Good kick-off to your Careers unit which demonstrates the changing nature of the workplace. Link to LinkedIn infographic here with data on the top jobs. Here are the top 10 jobs: IOS developer Android developer Zumba instructor Social media intern Data scientist UI/UX designer Big Data Architect Beachbody coach Cloud Services specialist Digital Marketing specialist See if your students see the larger trends here: Shift to mobile phones Physical fitness Big data Or have them research pay...

Schools In The News

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Feb 28, 2016
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Schools In News, Current Events, Featured Teachers
Here’s a rundown of recent stories about schools teaching personal finance: Milton High School (WI) board recently approved making a personal finance course a graduation requirement (GazetteXtra) The school board recently approved a financial literacy and employability course high school students will have to pass before graduating. The class will be tied to the academic and career plan Wisconsin students soon must draft as a graduation requirement. Personal finance currently is taught...

What Psychological Factors Make Us Bad At Managing Debt?

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Feb 28, 2016
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Behavioral Finance, Research, Credit Cards, Student Loans, Current Events
From Scientific American: Despite its apparent burden on families across the country, many people do not effectively manage their debt. Most individuals juggle multiple kinds of debts, each coming with different terms and interest rates. This diversification of debt requires consumers to make decisions about how to best allocate limited resources to repay them. The most effective way to pay off debt over the long-term is to focus on the loans with the highest interest rates first. Yet evidence...

Simulation: Living Paycheck to Paycheck (Spent)

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Feb 26, 2016
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Activity, Purchase Decisions, Insurance, Employment, Writing assignment
On a recent NGPF podcast (released next week), Helaine Olen mentioned an online game called Spent (click to play the game!) (click to play the game), which I am finally getting a chance to play. The tagline on their home page is “It’s Just Stuff. Until You Don’t Have It.” I have created a set of questions for students to accompany the game. Here’s their opening challenge: I accepted the challenge which is to make it through the month with $1,000 in savings and no...

What Can This Rap Video Teach Students About Paying Back Student Debt?

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Feb 26, 2016
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Paying for College, Question of the Day, Student Loans, Current Events, Video Resource
Hat tip to Sid Sharma, NGPF intern, who found this video about paying back student loans, which has since gone viral with almost 400,000 YouTube views: Here’s the back story (from CNN): “….But New Orleans rapper Dee-1 turned that dream into a reality by paying off his loans with an advance he received after signing a record deal. The former middle-school math teacher, whose real name is David Augustine Jr., says his debt problems started after he graduated from Louisiana...

New Product Launch: Data Crunch

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Feb 25, 2016
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Credit Scores, Career, Question of the Day, Research, Budgeting, Credit Cards, Checking Accounts, Teaching Strategies, New Products, Current Events, Chart of the Week, Math
For those teachers have been asking us for charts, graphs and data sets with personal finance information for their students, thank you for your feedback! We are excited to present to you our latest new product release: The NGPF Data Crunch. Read on for additional details. What’s a Data Crunch? Here are a few NGPF Data Crunch examples from our Library:  What’s the Value of a College Major?  How Do Young Adults Protect Their Privacy Online?  Are Stocks a Risky Long-Term...

Day 6 of the 24 Hour Personal Finance Course: Savings in 90 Minutes

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Feb 25, 2016
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Paying for College, Savings, Teaching Strategies, Featured NGPF Lesson, Professional Development
Here was the Savings Lesson delivered yesterday as part of the 24 Hour Personal Finance Course NGPF is teaching at Eastside Prep. Key learning objectives: Importance of starting to save when you are young (i.e. the power of compound interest) Understanding the psychological barriers to saving and how they can be overcome Documents: Lesson Guide (Note: I have terrible habit of going off script so what follows does not mirror this lesson plan) Student Activity Packet Opened with 4 Poll...

What's New With Auto Insurance?

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Feb 19, 2016
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Research, Current Events, Insurance
Time for an update on new developments on auto insurance: Premiums likely to rise in most states in 2016 (from MoneyWatch):”The lowest gas prices in years could wind up helping to drive up car insurance payments for U.S. motorists. As Americans put more miles on their cars last year, motor vehicle deaths rose 8 percent, and as a result, car insurance premiums are likely to rise in 2016. The National Safety Council (NSC) estimates that 38,300 people were killed on U.S. roads in 2015, and...

Activity: Is This Good Financial Advice?

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Feb 18, 2016
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Credit Scores, Activity, Question of the Day, Investing, Mutual Funds, Savings, Teaching Strategies, Stocks, Parent Conversations
I believe strongly that one of my roles as teacher is to provide students with the tools to find credible, reliable sources to answer financial questions that they may have. The financial landscape is constantly changing which only increases the importance of finding a group of experts that you can tap into when necessary. One great source of information that I have found over the years is the Bogleheads forum, inspired by the founder of Vanguard, Jack Bogle. What makes it good? Lots of informed...

NGPF Podcast: David Anderson of w!SE: Assessing What America's High School Students Know About Money

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Feb 18, 2016
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Personal Finance, Teaching Strategies, Current Events, Audio Resource, Featured Teachers, Podcasts
Thanks to David Anderson, Executive Vice-President at w!SE (Working in Support of Education) for joining me recently on the NGPF podcast show. David joined w!SE in 2007. He oversees w!se’s national financial literacy programs and, with the President, for partnerships, development and marketing. He previously had a career on Wall Street. W!SE is a leading educational not-for-profit. At the heart of its offerings is a family of financial literacy certification initiatives: The Financial...

Introducing... Comprehension Questions for Unit 3 (Types of Credit)

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Feb 17, 2016
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Credit Cards, New Products, Featured NGPF Lesson, Front Page Spotlight
First, for those who have clicked over from our emailed product release, here’s the promised ONE STOP SHOP FOR THE COMPREHENSION QUESTIONS.  If you didn’t receive our email (Why aren’t you on our mailing list??? Sign up at the bottom of this page!) read on… On occasion, teachers who have found our lesson guides on our website have emailed to ask, “So, it says #13-17 are assessment questions, but I don’t see those anywhere. How do I access those...

Chart: How Much Does Credit Card Debt Vary By Age?

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Feb 17, 2016
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Behavioral Finance, Question of the Day, Research, Credit Cards, Payment Types, Purchase Decisions, Current Events, Chart of the Week
Answer: A lot! From Federal Reserve Bank of Boston study: Other interesting factoids in this study (thanks to Bloomberg for summarizing): The 20s are a key age when it comes to credit card debt: “Between ages 20 and 30, Americans rush to embrace credit-card debt. Their credit-card limits jump about 450 percent in that time, while their debt rises almost as quickly, by more than 300 percent.” Almost 2/3 of credit card users are revolvers: “About 35 percent of those aged...

Chart: How Often Do You Check Your Credit Score or Report?

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Feb 17, 2016
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Credit Scores, Question of the Day, Research, Current Events, Chart of the Week, Credit Reports
From Credit.com: This provides a good opportunity to remind your students: According to the Federal Trade Commission in 2012 study, about 20% of consumers have errors on their credit reports..which is why you want to check frequently! You can access FREE credit reports from each of the three bureaus (Experian, Equifax and TransUnion) at annualcreditreport.com. Space them out every four months and you get more frequent insights into your credit situation. As we posted earlier (and this trend...

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