Date Filter: 2017/1/

WebQuest: How To Protect that Credit (and Debit) Card!

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Jan 31, 2017
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Identity Theft, Activity, Credit Cards, WebQuest, Debit Cards, Current Events, Financial Scams, Activities
I am always amazed when I am searching Google for interesting news stories about credit cards how frequently the articles detail how the “bad guys” manage to steal credit card information. Identity theft can seem like an adult problem to many teens (unless their parents or they have been personally victimized), so I thought this quick WebQuest might bring the topic home to them.  I thought it would be interesting to provide an update to my earlier 2015 post titled (apologies to Paul...

NGPF Podcast: Tim Talks To Blended Learning Aficionado Steve Penley

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Jan 31, 2017
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Podcasts, Lesson Idea, Teaching Strategies, Current Events, Professional Development, Tips for Teachers
Thanks to Steve Penley of Waubonsie Valley High School (Aurora, Illinois) for coming on the NGPF podcast recently. Steve came to our attention through his participation in the NGPF Professional Learning Communities (PLC) program that Jessica (from NGPF) facilitates. In Jessica’s words, “Steve provides tons of great feedback to other participants and stays abreast of new technologies and tools which is incredibly valuable to the group.” In this podcast, Steve shares the...

Chart: Explaining the Investing Concept of Risk and Return

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Jan 30, 2017
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Investing, Research, Teaching Strategies, Current Events, Chart of the Week
Source: Fidelity: One of the core concepts in finance is the relationship between risk and return. The higher the risk of an asset, the higher the EXPECTED return. EXPECTED is an important term here because there are no guarantees. For those who say “I should invest in the riskiest start-up since that is going to produce the highest return, well, if history is any guide most of those start-ups will fail so probably best to invest in a basket of them (aka “spray and pray”...

NGPF Application Tips For Summer Institute 2017!

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Jan 30, 2017
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Summer Institute, Front Page Spotlight, Contest Current
We are excited to start the process for the Summer Institute 2017. Last year, we planned to invite SIX applicants for NGPF’s Inaugural Summer Institute. However, due to an incredible response of qualified candidates, we selected TWELVE! In that same spirit, we have even better news this year! Due to the success of last year’s Institute, we have decided to increase our investment and host TWO Summer Institute sessions – which means 24 outstanding educators will be joining us...

Chart: Another Consequence of Income Inequality in U.S....Wildly Different Life Expectancies

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Jan 29, 2017
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Chart of the Week, Research, Current Events
From the Financial Times (hat tip to Big Picture Blog):   ...

Activity Idea (with Spreadsheets): Let's Make An Index Fund

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Jan 29, 2017
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Index Funds, Activity, Behavioral Finance, Investing, Mutual Funds, Teaching Strategies, Math, Activities
I awoke this morning thinking “how can you make index funds more tangible for students?” Why do I care about this? Anyone who has heard my rantings before either in this blog or on the NGPF podcast knows that I abhor the Stock Market Game. It teaches all the wrong lessons about investing: the short term nature of it, the “luck” factor, the highest risk strategy wins and so on. At some point, I will create a game to counter these lessons that is focused on index funds. The...

Lesson: What If You Only Had An Hour To Convince Your Students to Save?

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Jan 29, 2017
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Savings, Lesson Idea, Teaching Strategies, Activities, compound interest
Earlier this month, we had the opportunity to get back into the classroom at Eastside Prep in East Palo Alto, California (where I came up with the idea for Next Gen Personal Finance). We’re teaching seniors all they need to know about personal finance over 6 weeks (24 hours of content) including lessons on savings and checking accounts, taxes, budgeting and investing. We’ll be releasing this 24 hour curriculum later this spring to help those educators who only have a limited time to...

The Next 10 Years...

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Jan 26, 2017
What better way to celebrate a milestone birthday then to set a daily record for page views and visitors to our website! A huge thank you to the growing wave of educators choosing the NGPF curriculum in their classrooms. I thought it would be fun to envision what the next ten years will look like for NGPF and the greater financial literacy movement. Here are our BHAGD (big hairy audacious goals and dreams): 90% of states will receive an “A” or “B” grade on the...

My Summer Institute Experience: A retrospective from NGPF Fellow Maureen Neuner

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Jan 26, 2017
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Summer Institute, Professional Development, NGPF Fellows
When you’re selected as an NGPF Summer Institute participant, you not only join us for 3 days in the summer but also commit to being an NGPF Fellow for the following school year. Fellows have a menu of actions they can complete to earn points, with the goal of earning 100 points by the end of the school year and receiving a stipend for their extra efforts. I can say, from our side, the Fellows have been instrumental this school year in shaping what NGPF does, so we love having them! One...

Question: How Do Banks Make Money Off Free Checking Accounts?

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Jan 25, 2017
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Checking Accounts, Current Events
Answer: Checking accounts provide banks with a cheap source of funds (they pay almost no interest on them) that they then loan out at much higher interest rates. So, for example, say I deposit $1,000 into a checking account paying 0% interest and the bank lends that $1,000 to a credit card customer paying 15%, the bank earns $150 in interest from the credit card customer and pays me bupkis:) From Motley Fool’s analysis of a bank, Bank of Marin, that has increased their percentage of...

NGPF Podcast: Tim Talks To Internet Car Sales Manager, Andrei Smith

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Jan 25, 2017
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Podcasts, Purchase Decisions
You never know where you might meet your next podcast guest. I met Andrei at his dealership recently (that’s an Audi in the background). We had a good conversation and he told me how passionate he was about financial literacy (he want as far as to ask how he could get access to our site). I sensed his enthusiasm and his perceptiveness and thought he would be great on a podcast and boy was I RIGHT. Andrei will share with you some insider tips on buying a car, describe the psychology...

Amanda Volz, NGPF Fellow, celebrates another big win in Budget Challenge

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Jan 25, 2017
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Featured Teachers, Schools In News, NGPF Fellows
NGPF Fellow Amanda Volz has been teaching for 15 years and is now celebrating her students’ THIRD CONSECUTIVE YEAR of winning BIG ($20,000 big) in the H&R Block Budget Challenge. Amanda’s students not only benefit from her amazing, innovative teaching style but also from their school’s prioritizing financial literacy enough to offer a full year Financial Management course. Read more about Amanda, her school — St. Clair High School in St. Clair, MI — and...

Videos: 4 Simple Rules of Investing From Marginal Revolution University

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Jan 24, 2017
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Investing, Behavioral Finance, Index Funds, Current Events, Video Resource
I have been meaning to check out these videos since I met a representative from Marginal Revolution University (MRU) at the RI JumpStart conference in December (yes, my to-do list is TOO LONG!). Tyler Cowen, a well-known economist out of George Mason and blogger, is the intellectual force behind this endeavor. Since I know investing tends to be the “achilles heel” for many teachers, I thought I would focus first on the MRU videos on this topic. What do I like about these videos? ...

What's the Average A.P.R. on Credit Cards In the U.S.?

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Jan 24, 2017
Answer (from Creditcards.com via Motley Fool): 15.36% (a record high!) A good reminder for students about a few key characteristics of credit cards: Why are rates going up? Blame the rewards programs as one reason: “Another likely factor is the proliferation of loyalty-boosting rewards cards, which offer everything from cash back to miles for a flight. Rewarding cardholders can certainly boost loyalty and transactions, but it comes with a price to the lender. In return for that added...

NGPF's Steps Up Commitment to Professional Development in 2017

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Jan 23, 2017
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Professional Development, Current Events, Webinar, Podcasts, Tips for Teachers
You may have seen this recent announcement: Next Gen Personal Finance is pleased to announce a $120,000 challenge grant to Champlain College’s Center for Financial Literacy led by John Pelletier. This funding will enable dozens of Vermont financial educators to receive a graduate-level training program over the next three summers at the College. We are excited about restarting this program in Vermont which had great success earlier in the decade. Survey after survey shows teachers...

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