Date Filter: 2017/3/

What I Have Been Reading This Week...

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Mar 31, 2017
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Article, Credit Scores, Career, Paying for College, Question of the Day, Research, Credit Cards, Investing, Student Loans, Current Events, Credit Reports
Here’s a weekly round-up of articles that caught my attention this week that I thought you would find interesting: Want to find out what it feels like to own a volatile stock? Find out how this investor got emotional by making a $3 trade in this MarketWatch article, “I drove myself crazy by investing $3 in the stock market.” “Turns out, it doesn’t cost much to drive yourself batty over your investments. For the past week, ever since I broke one of my cardinal...

Schools in the News

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Mar 31, 2017
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Schools In News
  High school students taught financial literacy lessons (WWLP.com) Chicopee Comprehensive High School students are learning real life lessons, such as how to stay out of debt when they grow up. Every year for the last nine years, the school has been setting aside an entire day to educate 11th graders on financial literacy. It is called the “Financial Literacy Day Challenge.” They learn about making a household budget; paying the mortgage, the grocery bills, and when they marry,...

Which Personal Finance Concepts Cause the Most Confusion?

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Mar 30, 2017
Skimming the recent GFLEC and the TIAA Institute Personal Finance Index (P-Fin Index) Report. So, let’s start with what’s different about this report: Asked more questions than you would typically find in a financial literacy research report. 28 questions were asked on 8 different topics (3-4 questions per topic): Earning Consuming Saving Investing Borrowing/managing Debt Insuring Comprehending risk Go-to information sources This is the most instructive chart as it shows the...

Question: Can You Open A Bank Account Online?

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Mar 30, 2017
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Checking Accounts, Question of the Day, Research, Current Events
Answer: You can, but it’s extremely hard at the 30 largest retail banking institutions. Note that the question was NOT “Can you open an online bank account online?” As that answer would obviously be YES. From Credit Union Times: According to a study of nearly 1,400 people who successfully applied for checking accounts at the nation’s 30 largest retail financial institutions, only 8% of successful applicants were able to complete the entire process from start to finish on...

T-2 Days...NGPF Has Contests, PD, Resource Ideas Planned for Financial Literacy Month

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Mar 29, 2017
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Financial Literacy, Personal Finance, Lesson Idea, Teaching Strategies, Professional Development, Advocacy
With Financial Literacy Month (#FLM2017, #FinLit, #afinlitfuture) right around the corner, we wanted to share with you our plans! NGPF has a full slate of activity planned for the month of April with contests, PD opportunities and resources that you won’t want to miss. Get A Sneak Peak at NGPF’s One-Semester Course; Register for our April 25th Webinar We hear it all the time — “Your website has SO many great resources, I don’t know where to start.” Or, “There’s no way I...

Laura's Insights: NGPF in the Classroom!

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Mar 29, 2017
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Personal Finance, Credit Scores, Paying for College, Credit Cards, Index Funds, Investing, Mutual Funds, Financial Literacy, Teaching Strategies, compound interest
This year, NGPF took our show on the road and taught personal finance workshops in several local schools.  These experiences included a 3 day workshop at the Nueva School (San Mateo), a four session workshop at Castilleja school (Palo Alto), seven sessions with an AVID classroom at Mountain View High School (Mountain View) and our intensive 6 week workshop at Eastside Prep (East Palo Alto). In this post, I will share my experiences at the Castilleja School, an all-girls school just down the...

Life Strategies: Apply the Concept of Compounding to Your Life

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Mar 29, 2017
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Article, Behavioral Finance, Career, Research, Investing, Current Events
I came across two articles recently that had me nodding my head frequently because they made a lot of sense. Both articles dealt with a similar theme: how small, incremental changes add up to large improvements over time. I like to think of the NGPF blog as an example of this. In the process of curating and writing two blog posts everyday (with help from the team), I hope that I am getting a little bit smarter about personal finance and more creative about brainstorming ways for educators to...

You Know That Annual Fee On Your Credit Card...Well, It's Negotiable!

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Mar 29, 2017
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Activity, Research, Credit Cards, Current Events, Audio Resource
From WSJ (subscription): More than 80% of people who ask their card company for relief from their annual fees receive it, according to a new survey. Most get the fee waived entirely, while a smaller portion receive a fee reduction, according to a CreditCards.com report released Monday that surveyed around 950 card users. Why are card companies so flexible? Well, it’s a competitive marketplace out there: Intense competition between credit-card issuers is the main reason for this...

Question: What's A Financial Adviser?

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Mar 28, 2017
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Chart of the Week, Current Events
Often when talking to students about investing, a student will ask: “Can’t I just hire someone to do this?” The answer is obviously “yes” and then I will launch into my “you better something about investing to know if they are doing a good job for you” speech. I realize that is only providing half the answer, because we better teach students the “hiring” part too, as in there are lots of different financial advisors with fancy titles that...

Podcast: How Does Scarcity (Time, Money, Relationships) Impact Our Brain?

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Mar 28, 2017
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Behavioral Finance, Research, Purchase Decisions, Current Events, Video Resource, Audio Resource
Thanks for my friend Dan Mennel for pointing this podcast out to me: Hidden Brain: Tunnel Vision (Episode 65, 36:34) What I like about this podcast: The first fifteen minutes of the podcast deal with the issue of money scarcity and describe how our brains are wired to handle it and how our responses often meet short-term needs at the expense of our long-term goals. From Hidden Brain website: When you’re hungry, it can be hard to think of anything other than food. When you’re...

Resource Lists for Financial Educators (courtesy of Barbara O'Neill of Rutgers Cooperative Extension)

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Mar 28, 2017
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Activities, Credit Scores, Career, Paying for College, Research, Budgeting, Credit Cards, Identity Theft, Personal Finance, Investing, Mutual Funds, Savings, WebQuest, Financial Literacy, Student Loans, Checking Accounts, Debit Cards, Payment Types, Stocks, Current Events, Insurance, Video Resource, Case Study, Credit Reports, Employment, Quizzes, Entrepreneurship
What does a distinguished professor do during her sabbatical? Curate personal finance resources, of course! In this blog post, Barbara O’Neill shares the fruits of her hundreds of hours of labor in putting together three awesome resource lists (see bottom of post for links to her lists), including what what she considered the “best of the best” from the NGPF library. As she describes below, the purpose of her odyssey was to replenish her “well” of creative...

NGPF Podcast: Tim Talks to Passionate and Creative Educator, Andrea Stemper of Palmer High School (CO)

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Mar 27, 2017
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Podcasts, Current Events, NGPF Fellows, Advocacy
Thanks to Andrea Stemper of Palmer High School in Colorado Springs for the great conversation that we had recently. I got to know Andrea last summer at the inaugural NGPF Summer Institute. I was impressed by her passion and creativity as she shared lots of great activity ideas that she developed for her students. In fact, we turned one of those ideas into an activity “Let’s Make A Mutual Fund” for our new Teach Investing in Two Hours lesson (see Resource #7 for the activity)....

Amanda Volz & Her (Soon-to-be) Classroom of the Future

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Mar 27, 2017
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Featured Teachers, Schools In News, NGPF Fellows
NGPF Fellow Amanda Volz has made her local newspaper yet again, this time for the “Classroom of the Future” she’s designed and will have in place in less than two weeks at St. Clair High School in St. Clair, MI. Though Amanda is certainly an innovative educator across the board, this particular grant she received allowed her to design a new classroom layout, complete with flexible furniture and a “mini business setting.” The new classroom setup will perfectly...

Articles: The History of the Department Store and the Modern Day Department Store Destroyer

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Mar 27, 2017
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Article, Research, Budgeting, Investing, Purchase Decisions, Current Events, Entrepreneurship
Two articles that I thought your students might enjoy since shopping seems top of mind for many teens. I think these would be particularly good as a supplement for your investing or entrepreneurship lessons. One article describes the rise of the department store (Inventing the Department Store in Barrons; about 5 minutes reading) and the other describes the modern day Leviathan that is destroying department stores and other competitors too (Amazon: Primed from the Economist (three articles...

History Lesson: The Dow Jones Industrial Average Since 1896 In One Chart

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Mar 26, 2017
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Investing, Research, Index Funds, Stocks, Chart of the Week, Math
Great infographic showing the price action for the Dow Jones Industrial Average over the past 130 years with historical milestones along the way (click on the graphic to enlarge it): Questions for students: Do some additional research to find the companies that were in the Dow in 1896 and those that are currently in the Dow? Why do you think the chart has the title “Human Innovation Always Trumps Fear?” What was the longest period of time that it took the market to recover for a...

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