Date Filter: 2016/7/

Schools and Teachers (and Students) In The News

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Jul 31, 2016
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Financial Literacy, Research, Schools In News, Current Events, Featured Teachers
Here’s what’s been happening over the summer months with personal finance education in high schools: Here’s an inspiring story…A student at Ralston Valley High School (Aravada, Colorado) developed her own online financial literacy course (Arvada Press): Over the past year I’ve been studying how financial literacy looks not only in my own life, but those of my friends, my sibling and other students my age, and have found that not only is a financial class not required...

Why Your Personal Finance Lessons Need to Be Current

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Jul 31, 2016
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Activities, Activity, Research, Budgeting, Credit Cards, Personal Finance, WebQuest, Checking Accounts, Payment Types, New Products, Current Events, Credit Reports
Reason #1: Money is pouring into start-ups to disrupt the financial sector. Here’s a market map showing all the start-ups looking to disrupt the financial services industry (here’s recent financing activity) and they are targeting your students (millenials) for their services:  Ok, I know you can’t be expected to know who all of these new companies are, so why not use your students to do the research? We created a project for this very purpose, Online Tools and Apps, in which...

NGPF: Tim Talks to Veronica Dangerfield, Financial Literacy Evangelist

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Jul 29, 2016
Veronica Dangerfield has dedicated her life to bringing financial literacy to underserved communities through her work at Patelco Credit Union in northern California. Her workshops educate foster, low-income and other high-risk youth as well as young mothers on the basics of personal finance.  Visa recognized her work as an Innovative Educator in 2011 and described her approach in this way: Using her background as a comedian to connect with the clients of Brighter Beginnings, Dangerfield jumps...

Looking for A Summer Reading List As We Roll Into August?

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Jul 28, 2016
Hat tip to Big Picture Blog, where I believe I first saw this Reading List compiled by Patrick O’Shaughnessy. While he calls it “The Investor’s Field Guide,” he also lists books in unrelated fields, including a few fictional titles too. What’s fun about the list is that he provides pithy reviews about what he gained from reading the specific book, as well as a key passage or two. Here is his description of how the list came about: In April, 2014, I decided to...

Entrepreneurship: Why Was Dollar Shave Club Worth A Billion Dollars?

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Jul 28, 2016
Here’s the ad from 2012 (over 23 million views on YouTube) that catapulted them into the national consciousness: Questions for your students: What is Dollar Shave Club’s offer to consumers? Simple or difficult to understand? Why are they better than the competition? What do you see as the benefits of using their service? What do you think a typical razor (like Dollar Shave Club’s) cost in a retail store? Do some quick research to find out? What is the innovation that DSC...

WebQuest: Amazon Enters Student Loan Business (Updated on 9/2/16)

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Jul 27, 2016
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Paying for College, Research, WebQuest, Student Loans, New Products, Current Events
Lots of ink spilled last week on the announcement that Amazon is entering the student loan business. Use it as an opportunity for your students to get a better understanding of the student loan landscape and how to navigate the various loan types. Here are a few questions that your students can answer about this current event (see recommended articles below): How is Amazon getting involved in the student loan business? Will they be making student loans directly to students? Who is...

Question: What Are The Biggest Mistakes People Make On LinkedIn?

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Jul 27, 2016
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Career, Activity, Question of the Day, Video Resource, Activities
Who better to answer this question than the founder of LinkedIn himself, Reid Hoffman, in this short 3 minute video (starting at 17:26): Ideas on what to do after watching this video: View Reid’s LinkedIn profile to see what stands out about his profile, other than its length Have students find the marketing terms to avoid in a LinkedIn profile (this infographic does the trick) Complete this NGPF Project: Create Your Own LinkedIn Profile     ...

Ethics Activity: The L.L. Bean Return Policy

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Jul 26, 2016
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Ethics, Activity, Purchase Decisions, Current Events, Audio Resource, Activities, Cartoons
I was listening to this audio segment (20.5 minutes) of This American Life’s podcast “Get Your Money’s Worth” (Act 2: Bean Counter) about retailer L.L. Bean’s return policy and thinking “what a great discussion starter about the ethics of customer returns.” We have an ethics lesson on our curriculum roadmap so please send along any other ways that you bring ethics into your classroom. Here are some questions for your students to ponder as they...

Chart: Are Delinquent Student Loan Borrowers Getting Mortgages?

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Jul 26, 2016
Answer: Not so much. From NY Fed Consumer Credit Profile (hat tip to NGPF Fellow, Andrea Stemper, for pointing this chart in the recent White House report on student debt with 45 charts to please your inner geek): Questions for your students: What percentage of consumers with delinquent student debt are able to get mortgages? Why do you think this is the case? What has been the overall trend for mortgage originations for all individuals between the ages of 25-30 since 2005? What percentage of...

NGPF Podcast: Tim Talks to Credit Card Guru, Sean McQuay

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Jul 25, 2016
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Credit Cards, Credit Scores, Behavioral Finance, Identity Theft, Debit Cards, Current Events, Credit Reports, Audio Resource, Podcasts
Credit cards reign as one of the most ubiquitous financial products for consumers. Yet, they are often still not well understand by cardholders and non-cardholders alike. To bring some clarity to the credit card world, I was fortunate to have Nerd Wallet’s credit card guru, Sean McQuay, join me on this NGPF podcast to help answer such questions as: Why are those 0% APR offers so prevalent? Why can’t you find out the interest rate on your new credit card until it arrives in the...

Mini-Activity: Evaluating Credit Card Rewards Programs

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Jul 25, 2016
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Activity, Credit Cards, Payment Types, New Products, Advertising, Video Resource, Activities
Thanks to Sean McQuay of NerdWallet for a great conversation yesterday about credit cards. Look for it posted to NGPF Podcasts next week. He was discussing one of the cards he reviews which gave me an idea for a mini-activity in which students think about how best to redeem credit card rewards.  The card in question, the Citi DoubleCash Card, has the following terms: Discover Citi’s best cash back credit card. The Citi Double Cash card is a cash back card that rewards you with cash back...

Are Farms and Homes A Good Investment Opportunity?

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Jul 21, 2016
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Article, Mortgages, Question of the Day, Research, Investing, Current Events
Answer: Not so much. From Nobel Prize winner Robert Shiller at New York Times: Over the century from 1915 to 2015, though, the real value of American farmland (deflated by the Consumer Price Index) increased only 3.1 times, according to the Department of Agriculture. That comes to an average increase of only 1.1 percent a year — and with a growing population, that’s barely enough to keep per capita real land value unchanged. According to my own data (relying on the S&P/Case-Shiller...

NGPF Podcast: Tim Talks To Gary Mottola About The State of Financial Capability in the U.S.

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Jul 20, 2016
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Financial Literacy, Credit Scores, Behavioral Finance, Paying for College, Research, Budgeting, Credit Cards, Investing, Savings, Debit Cards, Current Events, Audio Resource, Quizzes, Podcasts
The FINRA Investors Education Foundation is out with the results of their 2015 National Financial Capability Study and who better to discuss the results than Gary Mottola, the head of research at the foundation. In this podcast, Gary supplies key insights from this comprehensive study including details on how millenials (and others) are managing their budgets, checking accounts, credit cards and student loan balances. He describes the quiz questions (test your knowledge here) from the...

Question: How Many Credit Cards Does The Average American Have?

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Jul 19, 2016
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Credit Cards, Question of the Day, Research, Current Events, Chart of the Week
Answer: 2.6 From Creditcards.com: Questions for students: True or false. The percentage of Americans that don’t have a credit card has increased significantly since 2008. The highest percentage of Americans in 2014 have between ____________ and ____________ credit cards. What might be the reasons that Americans choose not to have a credit card? From a credit score perspective, what might be one downside to having more than 7 credit cards? How does the percentage of Americans with 3 or...

Next Gen Personal Finance Featured in NBC News Story About Student Debt

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Jul 19, 2016
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Current Events, Paying for College, Student Loans
Reporter Herb Weisbaum of NBC News out with a story “Putting Off Marriage, Not Buying a Home: How People Live with Student Debt.” His article references the Consumer Reports survey on student debt in which many past students questioned whether college was worth the money. The story included a reference to NGPF and links to valuable tools and resources that we unearthed that can be so helpful to students and their families as they make this incredibly important decision: ...

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