Date Filter: 2016/04/

Before You Take Money Out of the Convenience Store ATM, Read This...

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Apr 29, 2016
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Research, Identity Theft, Checking Accounts, Debit Cards, Financial Scams
‘ ‘             Disturbing news about the increased prevalence of skimming at ATM locations (from NY Times): Skimming involves stealing debit card numbers by putting an illegal card reading device on an A.T.M. Criminals use the devices in tandem with hidden cameras that record personal identification numbers entered onto the keypad. They then make duplicate cards using the information and drain cash from bank accounts. FICO Card Alert Service, which...

Interactive: Putting the U.S. Fiscal Ship In Order

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Apr 29, 2016
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Policy, Research, Budgeting, New Products, Current Events, Interactive
Interactive game that Econ teachers and students will love (a little far afield of personal finance but as you are all aware, the health of the U.S. economy has serious implications for individuals’ financial health!. It’s called fiscalship.org and it puts your students in charge of managing the U.S. Budget. Here are reviews of the game which was just released this week (we like to stay current here at NGPF!): Good summary here at the Wall Street Journal which describes how this...

What's the Catch? A Checking Account Paying 5%

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Apr 28, 2016
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Behavioral Finance, Question of the Day, Checking Accounts, Debit Cards, Payment Types, Advertising, Current Events
Ask your students to solve the mystery by guessing what they would expect to see in the asterisk section about the conditions that need to be met to earn the 5%. Remind them that the average checking account today earns about 0.05%. Here’s the fine print for your students to decipher: To summarize: Limited to balances up to $5,000 [Editor’s note: this caps their cost at $250 per year per account, which seems reasonable as a cost of customer acquisition) 15 or more debit card...

Chart: Why Educating Students About Overdraft Protection is So Important!

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Apr 28, 2016
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Research, Checking Accounts, Current Events, Chart of the Week
Too many Millenials are “heavy overdrafters” based on a recent Pew Research study (note that Heavy ovedrafter was defined as someone who spent more than $100 in the past year on overdraft fees): Good way to kick-off your class to identify overdraft fees as a problem and then discussing strategies to avoid them. Here’s a mini-activity we created to help students learn about the types of alerts that they can set up on their account. ...

NGPF Podcast: Tim Talks to Justin Draeger, Leader of Financial Aid Association

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Apr 28, 2016
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Paying for College, Research, Student Loans, Current Events, Audio Resource, Parent Conversations, Podcasts
Continuing on our theme of college financial aid, we were lucky enough to have Justin Draeger on the podcast show recently. As CEO and President, Justin leads NASFAA, the National Association of Student Financial Aid Administrators, whose membership includes over 20,000 financial assistance professionals at over 3,000 schools. So, when your students have a conversation with a financial aid professional at their school, it is likely they will be talking to a NASFAA member. Given his role,...

The Envelope, Please...Announcing The NGPF Teacher Innovator Award Winners

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Apr 27, 2016
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Activity, Career, Budgeting, Personal Finance, Investing, Financial Literacy, Teaching Strategies, Schools In News, Current Events, Insurance, Employment, Front Page Spotlight, Featured Teachers, Parent Conversations, Contest Previous
Announcing the winners of the 2016 NGPF Teacher Innovator Awards…. Drumroll please. Wait a minute, first we have some people to thank. Thank you to all of the teachers who contributed to this contest by sharing your favorite activity. It inspires us to see the creativity and innovation occurring in personal finance classrooms across the country. Our selection process this year was made that much more difficult due to the quantity and quality of the submissions. In fact, the quality and...

Interactive: What Is The Automation Potential of over 750 U.S. Jobs?

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Apr 24, 2016
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Career, Question of the Day, Research, Current Events, Chart of the Week, Employment, Interactive
Definitely a must-have interactive for your Careers Unit, from the Visual Capitalist: So, how to use this chart that is overflowing with data? The left hand graph “US employment by automation potential” allows students to move their cursor over the bar chart to find out what jobs have the highest (95-100%) and lowest (0-5%) potential for automation. Oh, in case you were wondering, Paper Goods Machine Setters had 100% of time automatable and Home Health Aides were at 0%. The middle...

NGPF Podcast: Tim Talks To Lauren Asher, Student Loan and Financial Aid Expert and Advocate

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Apr 22, 2016
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Paying for College, Policy, Research, Student Loans, Current Events, Podcasts
It’s college decision time for high school seniors and the NGPF podcast show was lucky to have Lauren Asher join us recently to discuss the financial issues that go into this decision.  At the helm of The Institute for College Access and Success (aka TICAS), Lauren advocates for a simpler, fairer, more transparent financial aid process to ensure broader access to educational opportunity. TICAS’s research on the issues of college affordability, student debt and financial aid shows...

Question: What Percentage of U.S. Adults Own Stocks?

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Apr 21, 2016
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Behavioral Finance, Research, Investing, Current Events, Chart of the Week, Parent Conversations
Answer: 52% which matches a record low over the past 17 years Hat tip to Big Picture Blog for featuring this Gallup poll: I thought it would be interesting to line this chart up with the performance of the S&P500 over a similar time period (it doesn’t match perfectly): Questions for your students: How did investors react to the sharp pullbacks in ’00-’03 and ’08-’09? Did they react in the same manner for both of these periods? Have investors returned to the...

Schools In The News

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Apr 19, 2016
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Research, Personal Finance, Schools In News, Current Events, This Week In Financial Literacy
wi$e Announces 100 Best High Schools For Personal Finance Education (Press release): The 100 Best w!se High Schools Teaching Personal Finance recognizes the top performing high schools in w!se’s national network. The Top 3 ranked schools for 2016 are: Passaic County Technical Institute in Wayne, NJ; Aviation High School in Long Island City, NY; and HS for Math, Science & Engineering @ CCNY, New York, NY What makes for a successful school-based personal finance program (NPR)? ...

What's New With Credit Cards? Two Articles, A Video and A Podcast

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Apr 18, 2016
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Behavioral Finance, Research, Credit Cards, Payment Types, Current Events, Video Resource
Some resources that I stumbled upon recently that I thought you could use in the classroom: From Visual Capitalist: History of Credit Cards (3:26) From Planet Money podcast (18 minutes): Put a Chip On It “What took so long for it to get here? And now that it is here, why have so few stores adopted it? Today on the show, we bring you a brief history of what’s in your pocket. It’s a story of convenience vs. fraud—and it also includes a hippie inventor, the origin of the...

Chart of the Day: Think You Can Predict The Direction of the Stock Market? Think Again!

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Apr 18, 2016
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Behavioral Finance, Question of the Day, Research, Index Funds, Investing, Stocks, Current Events, Chart of the Week, compound interest
Hat tip to Barbara O’Neill (@moneytalk1) for tipping me off to this chart from Business Insider: Questions: What would have been your annual return over this 20 year period if you just bought on December 31, 1993 and held? Reading the footnotes, what is the investment vehicle that is assumed for this chart?  Do you think this is an appropriate investment for the sake of this analysis? How much less would you have earned (in $ and percentage return) by missing the 10 best days during...

NGPF Podcast: Tim Talks To John Ulzheimer, Credit Reporting and Scoring Guru

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Apr 17, 2016
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Credit Scores, Credit Cards, Identity Theft, Current Events, Credit Reports, Audio Resource, Employment, Podcasts
Author, expert and educator are apt descriptions of John Ulzheimer, who is the most widely quoted credit expert in the universe. Having worked at both Equifax and Fair Isaac, John provides an insider’s perspective on the complicated world of credit reporting and scoring. His candor and humor bring to life what can often be considered a pretty dry topic. I mean, let’s face it, credit reports are never going to make a teen bestseller list. Listen to this podcast and I can almost...

Activity (Update): All The Finance Advice You Need Should Fit On An Index Card

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Apr 17, 2016
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Credit Scores, Activity, Budgeting, Personal Finance, Index Funds, Investing, Savings, Financial Literacy, Current Events, Insurance, Video Resource, Writing assignment, compound interest
Ok, I admit that I have a bit of a fascination with this concept of “all we need to know about personal finance should fit on an index card.” Why? It’s the notion that the simplest solution is often the best solution, especially when it comes to personal finance. For example, when thinking about investing, aren’t a few well-diversified index funds going to serve you better than trying to choose among 7,000 mutual funds or a similar number of publicly-traded stocks? So,...

Tax Day is Monday! Looking for Hands-On Tax Activities To Use In Your Classroom?

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Apr 15, 2016
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Activity, Current Events, Taxes
So, your planning to mail your income tax return on Monday (actually, the 18th) and now you’re looking for hands-on tax resources to include in  your classroom. Here are a few from the NGPF Library to supplement your existing curriculum: Activities: Completing a 1040-EZ Calculate how allowances affect your income Videos: From We The Economy: Where do our tax dollars go?  From National Priorities: If Paychecks Could Talk Data Crunch: How much do you expect to get from your tax...

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