Date Filter: 2016/11/

Question: How Much Do Consumers Spend Annually on Product Warranties?

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Nov 30, 2016
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Question of the Day, Behavioral Finance, Research, WebQuest, Purchase Decisions, Current Events, Audio Resource
Answer (From Marketplace.org with 2 minute audio below): Over $42 Billion Questions:  What are examples of product that typically offer warranties? Have you ever bought a warranty? For what product? Do you think warranties are a good deal for consumers? Why or why not? Do you think this is a profitable business for the warranty company? Why or why not? My warranty story: I was fresh out of business school twenty years ago working with an investment management business. One of my first tasks...

What Words Come To Mind When You Think of Next Gen Personal Finance?

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Nov 30, 2016
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Question of the Day, Featured Teachers
We asked this question of the 20+ scholarship-winning teachers at the recent JumpStart National Educator Conference in Dallas and here’s what they said: Note: Word clouds don’t do so well with answers of more than one word such as “problem solving” and “real world.” Look for more real-world, relevant and engaging content coming this Thursday with our latest product release! Or should I say releases? Stay tuned. ...

If You Only Had An Hour To Teach Communication Skills....

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Nov 30, 2016
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Activity, Teaching Strategies, Video Resource, Activities, Tips for Teachers
….use the activities described in this workshop as a foundation. Your personal finance class provides you with an excellent opportunity to develop your students’ communication skills. You can give your students practice on making persuasive arguments during a debate or perhaps, how to effectively present their recommendations using one of NGPF’s case studies. Many teachers wonder how to provide a foundational lesson in communication that students can utilize as a framework...

NGPF: Tim Talks to Pat Page, Award-Winning Educator and Passionate Advocate for Financial Education

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Nov 29, 2016
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Podcasts, Credit Cards, Schools In News, Current Events, Audio Resource, Excel activities, Parent Conversations, Entrepreneurship
  Thanks to Pat Page for the great conversation we recently had on the NGPF podcast. Pat shared her insights and expertise on many topics that financial educators will find helpful. You will learn about Pat’s approach to using technology in her classroom, teaching spreadsheets, using pithy phrases to focus student attention and telling stories that bring financial topics to life. You will also hear the inspiring story of how a group of students at her high school lobbied the Rhode Island...

What Do You (and Your Students) Need to Know About Behavioral Finance?

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Nov 29, 2016
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Behavioral Finance, Activity, Investing, Financial Literacy, Checking Accounts, Teaching Strategies, Purchase Decisions, Current Events, Activities
If you have some time over the holidays, I recommend this 39 minute FT podcast (The Psychology Behind What We Do With Our Money) and accompanying paper: The Psychology and Neuroscience of Financial Decision Making. Why is this worth your time? It provides an fascinating summary of the latest experiments being run to help us understand why we make the money decisions that we do. Here were some of the interesting tidbits (numbers refer to footnotes cited in the paper): How to increase savings...

How Much Do Consumers Pay Annually In Credit Card Late Fees?

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Nov 28, 2016
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Credit Cards, Question of the Day, Research, Current Events, Chart of the Week
Answer (from R.K. Hammer as reported in WSJ): Over $10 Billion in 2015 Other interesting facts from the WSJ article: Lots of people are using their credit cards to access cash from ATMs which generated almost 2X more in fees than late fees: By comparison, card issuers earned $25.1 billion in cash-advance fees last year. About one in five card accounts incur a late fee: Roughly 20% of active credit-card accounts incur a late fee, according to CFPB data. Based on numbers from industry...

Interactive: What's Your Leadership Style?

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Nov 27, 2016
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Interactive, Career, Teaching Strategies, Current Events, Employment, Entrepreneurship
Plug this interactive into your Career or Leadership lesson and spark a great conversation about leadership styles. Students can complete this simple nine question survey from Quartz and determine what their leadership style is. Here’s a sampling of the statements (or questions) that students will respond to: Colleagues always prefer to come to me for advice Why mentor others when you can lead by example? My instinct is my strongest asset Recognition from others is a crucial part of my...

Question: How Much Did High School Teens Spend on Apparel In The Last Year?

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Nov 27, 2016
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Article, Question of the Day, Research, Budgeting, Personal Finance, Purchase Decisions, Current Events
Answer (from NPD Group reported in Wall Street Journal): $18.8 Billion See how your students answers to these questions compare to these quotes from the Wall Street Journal article: Are teens more price sensitive than years past? Analysts say teenagers are more price sensitive than in past years. “They grew up very cognizant of the Great Recession and their parents not being able to affordable everything they might have wanted,” said Melanie Shreffler, senior director at Cassandra, a...

A Weekly Round Up: Schools In The News

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Nov 22, 2016
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Schools In News, Personal Finance, Financial Literacy, Current Events, This Week In Financial Literacy, Entrepreneurship
  Gary students to operate urban farm as part of business program (The Washington Times) GARY, IN.  The bleating of a pair of goats has been added to the clucking of hens at Thea Bowman Leadership Academy’s urban farm. Nearly two dozen students at the high school are taking the Entrepreneurship and Personal Finance class, which oversees the farm. Improving Financial Literacy for Ontario Students (Ontario) November is Financial Literacy Month and Ontario is highlighting the various...

Question: What's the Difference Between Debit And Credit Cards?

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Nov 22, 2016
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Debit Cards, Credit Scores, Question of the Day, Credit Cards, Identity Theft, Payment Types, Current Events, Article
Students are often confused about this distinction between debit and credit cards. Here are some resources that help show the ways in which they differ: Video: When You Should Use Credit Over Debit Cards (WKRG.com) See if your students pick up on the inaccuracy in the video. The reporter says “If you lose money using your debit card, you’ll likely never get that money back.”  Video: How To Choose Between Debit and Credit (CNBC): Article: Credit, Debit Cards not...

NGPF Podcast: Tim Talks To NGPF Fellow Laura Falk About Developing Career Readiness Skills

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Nov 22, 2016
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Career, Activity, Teaching Strategies, Current Events, Featured Teachers, Activities, Podcasts, NGPF Fellows, Summer Institute
I had the pleasure of talking to educator Laura Falk recently on the NGPF podcast. Laura participated this summer in the inaugural NGPF Summer Institute and we met up again at the recent Jump$tart National Educator Conference. Laura has this infectious energy and passion for her work at Fairbanks High School in Milford Center, Ohio. In the podcast, Laura shares how she develops career readiness skills in her students through job shadowing, career exploration and a project-based learning method....

NGPF Visits City-As-School (New York, NY)

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Nov 21, 2016
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Paying for College, Schools In News, Featured Teachers, NGPF Fellows
NGPF Fellow Tony Montgomery not only co-facilitated our workshop at the w!se MoneyPOWER conference on November 8, AND helped field teacher questions at our Exhibitor’s Booth, but he ALSO invited me to visit his classroom the following day, Nov 9, at City-As-School in Manhattan. I visited Tony’s class which, this cycle, is focused on Paying for College. The school calendar is organized into cycles, where students learn intensely in one narrowly focused class, rather than having many...

Chart: What's the Cost of Having A Low Credit Score?

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Nov 21, 2016
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Chart of the Week, Credit Scores, Mortgages, Activity, Question of the Day, Research, Current Events, Activities
Answer: Tens of thousands of dollars when looking at long-term loans like mortgages. Great chart recently released by myfico.com (hat tip Motley Fool) demonstrates how current interest rates on mortgages vary based on credit scores: Here’s a quick mini-activity for students to see how much a low credit score could cost them: Using this simple mortgage calculator, plug in the following assumptions: Home value: $234,000 (median sales price in September 2016) Interest rate: 3.248% (high...

NGPF Visits Williamsburg Charter High School (Brooklyn, NY)

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Nov 20, 2016
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Budgeting, Credit Cards, Schools In News, Featured Teachers, NGPF Fellows
Thanks go NGPF Fellow Cheryl Williams, I had the opportunity to visit her school, Williamsburg Charter High School in Brooklyn, NY, while I was in in town for the w!se conference. Cheryl is the social studies department leader, and while I didn’t get the chance to see Cheryl’s teaching in action, she set me up for two class visits with other members of her staff. Here are the highlights: I visited Curtis Jacquemain’s Financial Algebra class, where he was leading his senior...

It's Thanksgiving: Time for A Gratitude Activity!

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Nov 20, 2016
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Activities, Activity, Research, Teaching Strategies, Current Events, Writing assignment
What a great way to ease into the Thanksgiving holiday! See the mini-activity idea below to help students see the benefits of gratitude: First, let your students know that gratitude has positive physical and mental health benefits (Harvard Mental Health letter): Two psychologists, Dr. Robert A. Emmons of the University of California, Davis, and Dr. Michael E. McCullough of the University of Miami, have done much of the research on gratitude. In one study, they asked all participants to write...

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