Date Filter: 2016/10/

Sue Suttich wins Personal Finance Teacher of the Year (Financial Beginnings Organization)

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Oct 31, 2016
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Featured Teachers, Schools In News, NGPF Fellows
NGPF Fellow & Tigard High School business marketing teacher Sue Suttich stopped by our Palo Alto offices recently, and we got to chatting about the recent Financial Beginnings Conference in Salem, OR. NGPF wasn’t able to make it up for the conference, unfortunately, but Sue was there AND won Personal Finance Teacher of the Year from the Financial Beginnings Organization. You can read a brief article from a local newspaper here, though we do believe they confused our NGPF Summer...

Look who stopped by...

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Oct 31, 2016
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NGPF Fellows
NGPF Fellow (and Summer Institute 2016 participant) Sue Suttich, of Tigard High School in Tigard, OR, swung by our offices while she was in town. We love and appreciate visits from teachers, so if you’re a regular user of NGPF curriculum or professional development opportunities, and you’re ever in the San Fran Bay Area, swing by our Palo Alto offices and say HI! We’d love to meet you in person. Fun Fact about Sue: She creates her own financial literacy-themed t-shirts!...

NGPF Podcast: Tim Talks to Ami Amero, A Financial Literacy Mainiac

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Oct 31, 2016
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Audio Resource, Paying for College, Budgeting, Teaching Strategies, Featured Teachers, Podcasts, Tips for Teachers
Thanks to Ami for joining me on the NGPF podcast for the second time (we had to scrap the first one due to a bug in the recording software). No, that’s not a typo in the title but rather a play on Ami’s home state of Maine. Ami teaches at a small school (listen to hear how small the school is), Forest Hills Consolidated in Jackman, and is passionate about getting more financial education to Maine students. She shares the thought process that went into designing her course, how she...

Question: What's the Average Amount of Student Debt for Recent Grads?

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Oct 31, 2016
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Student Loans, Paying for College, Question of the Day, Research, Current Events, Chart of the Week
Answer (from Project on Student Debt): $30,100 for 2015 graduates (68% of grads had student debt) Hat tip to Lauren Asher of TICAS for sharing this information about their recent study. Wondering how students in your state compare to this national average? Go to this interactive map which has information on over 1,000 colleges: Questions: Do either of the numbers surprise you: the $30,100 in debt or the 68% who graduate with debt? Why do they surprise you? How does your state compare to the...

Interactive: How Long Are You Going to Live?

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Oct 30, 2016
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Interactive, Activity, Career, Question of the Day, Lesson Idea, Investing, Activities
Nice question to get your students engaged in your lesson about saving for retirement. Here’s an interactive from the Actuaries Longevity Illustrator to help answer that question. I created two fictitious high school students, Bill Bradley and Samantha Taggart to demonstrate a potential mini-activity:   After you click “View Results”, you get three charts each of which can be converted into data tables which your students can analyze. Here’s a data table that looks...

Question: How Do You Decode A Financial Aid Award Letter?

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Oct 30, 2016
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Paying for College, Lesson Idea, Student Loans, Current Events, NGPF Fellows
Hat tip to NGPF Fellow Charles Kafoglis for pointing to this resource at FinancialAidLetter.com (and thanks to my friend Kim Clark for producing it!). This site decodes financial aid award letters from six colleges and grades each one based on their level of transparency. Here is an example on how they decoded one of these letters: Note that while these letters date back to 2007 sadly, despite best efforts, these award letters are still often are confusing, full of jargon, and not...

NGPF Launches "The Fine Print"

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Oct 27, 2016
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Teaching Strategies, Career, Credit Cards, Personal Finance, Lesson Idea, Investing, New Products, Current Events, Insurance, Taxes, Credit Reports, Employment
Read the fine print! We hear that advice all the time (a quick google search found it here and here and here). Yet, we didn’t see any resources out there that would actually develop the critical thinking skills required to navigate the complex world of financial products. So, today we launched a new product “The Fine Print,” mini-lessons to give students practice with the important forms, statements and agreements they will encounter in their financial lives. Given that our...

Question: What Percentage of Young People Are Being Declined for Credit?

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Oct 27, 2016
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Question of the Day, Credit Scores, Research, Credit Cards, Current Events
Answer: About 1 in 5 between the ages of 23 and 27.  Hat tip to Laura Matchett of NGPF for pointing out this informative Forbes article. As for the reasons why they are being rejected: The biggest obstacle facing millennials in their struggle for new cards appears to be their credit scores. ID Analytics reports that 67% of consumers under the age of 30 have a subprime or non-prime credit score. Worse yet, around 33% of people in this age group do not have any score at all, due to a lack of...

A Weekly Round-Up: Schools in the News

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Oct 26, 2016
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Featured Teachers, Teaching Strategies, Schools In News, Current Events, This Week In Financial Literacy
“It’s about time”: Students in Lisa Holland’s class at Mount Pilchuck Elementary School being equipped with financial savvy so they don’t get into debt later (HeraldNet): It was payday in Lisa Holland’s classroom at Mount Pilchuck Elementary School.   Two young bankers handed out colorful slips of currency bearing the image of a stately frog.  Students were paid in the Froggy dollars according to their Pond 20 workplace expectations, such as coming to school...

Question: What Are The Top Job Skills in 2016?

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Oct 26, 2016
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Career, Question of the Day, Research, Internships, Employment
From LinkedIn (hat tip to EdSurge): Questions for students: Which of the skills on the list are you familiar with? Pick at least one skill on the list and research the following: In your own words, what does this skill really mean? What education/experience do you need to acquire this skill? What types of companies hire people with this skill? In scanning the top 10 list, how would you categorize most of these skills? Technical? Non-Technical? Requiring a high school degree? College...

What Personal Finance Terms Are Trending On Google Search?

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Oct 25, 2016
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Chart of the Week, Credit Cards, Investing, Financial Literacy, Current Events, Credit Reports
Playing around with Google Trends and wondered how various search terms are trending. Interesting to see three of these search terms”credit cards,” “credit score” and “investing” all converging together. Wondering about the purple trend line that barely registers above zero over the past five years? Oh, that’s “financial literacy.” Many say they need it, but few seem to be searching for it:) Of course, one way to build financial literacy...

Question: How Do Investing Fees Shrink Nest Eggs?

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Oct 25, 2016
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Investing, Question of the Day, Stocks, Current Events, Chart of the Week, Article, Math, compound interest
Please, please, please teach this concept to your students. The concept of compound interest makes the “greatest hits” list for most personal finance curricula. What doesn’t make the list is the impact of “compounding fees” which has a dramatic impact on what is left over after a lifetime of investing. Courtesy of NY Times and Vanguard, we now have a handy chart showing exactly how much of an investor’s returns get eaten up by those ever so subtle fees that...

Activity: How A Commercial Delivery Demonstrates A Changing Jobs Landscape

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Oct 25, 2016
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Activities, Activity, Career, Research, Teaching Strategies, Current Events, Article, Interactive
Here’s an interesting mini-activity/webquest to do in your Careers Unit. We all know that the economy today is not the same economy that our parents entered when they completed their education. Columnist Tom Friedman is fond of saying that your parent’s generation “got a job” but millenials increasingly need to be able to “create their own job.” Reading the headlines we get constant reminders of the rapid pace of change. Here is the NY Times headline and...

Video: How Did These NFL Players Lose $43 Million?

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Oct 24, 2016
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Behavioral Finance, Question of the Day, Investing, Current Events, Video Resource, Financial Scams, Ethics
From 60 Minutes (14 minute video): Questions: What was the investment idea that burned so many NFL players? Why do you think the NFL players were so attracted to this idea? How much money did Mr. Rubin raise for the Country Crossing project? What were Mr. Rubin’s incentives? Did he make money even if the investment failed? How? Why did the investment fail? Based on the fact that some players lost their homes after this investment failed, how much of their wealth do you think they...

If You Are A Teacher Enrolled In a 403(b) Plan, Please Read This!

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Oct 24, 2016
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Article, Behavioral Finance, Career, Policy, Index Funds, Investing, Stocks, Current Events, Ethics
This is a great example where your knowledge of investing can come in handy for yourself and other teachers in your building. The NY Times story shows what happens when light regulation meets rapacious financial firms. This is why financial literacy is so important! We can wait for regulation or we can arm ourselves with the knowledge necessary to avoid disasters like the story told below. Without knowing the right questions to ask or understanding the alternatives, too many teachers have seen...

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