Date Filter: 2017/5/

Question: What's the Average Credit Score in the U.S.?

|
May 31, 2017
|
Article, Credit Scores, Question of the Day, Research, Credit Cards, Current Events
Answer (from WSJ; subscription): 700 as of April, 2017 More from WSJ: Credit scores for U.S. consumers reached a record high this spring while the share of Americans deemed to be some of the riskiest borrowers hit a record low—a potential boon for lending and economic activity.” As for the reasons why credit scores continue to climb: Bankruptcies and foreclosures stemming from the Great Recession are being wiped off the books (from Pymnts.com): “What’s more, the recession and...

What's The Catch?: Student Loan Forgiveness Or...

|
May 31, 2017
|
Activities, Activity, Paying for College, Student Loans, Advertising, Current Events, Case Study
What if you were a student loan borrower struggling to make your monthly payment and saw this ad pop up on your computer screen one day: Or maybe this one:  When you called the customer service phone number, you hear assurances like… “Let me enroll you in a student loan forgiveness program and we will get your monthly payment reduced and even get your loan forgiven.” “We will get you pre-approved for Federal government programs that will forgive or eliminate your...

NGPF Podcast: Tim Talks To Teacher-Innovator Tara Kelley of Harwood Union HS (Vermont)

|
May 30, 2017
|
Credit Cards, Payment Types, Teaching Strategies, Math, Featured Teachers, Podcasts
I had a great conversation recently with NGPF Teacher Innovator Award winner, Tara Kelley, a math teacher from Harwood Union High School in Duxbury, Vermont. Tara created a Spring Break Project (who doesn’t want to plan a spring break vacation?) which allowed her students to explore the cost of using a credit card to pay for their Spring Break vacation. They learned through this activity the impact that changing their monthly credit card payments has on the total interest paid as well...

Index Funds: What's the Catch?

|
May 30, 2017
|
Investing, Research, Index Funds, Current Events
Hat tip to Meb Faber for compiling this list of S&P500 Index Funds: So, what’s the catch? Each fund holds the same stocks in the S&P500 Yet each charges a different fee for basically doing the same thing. If there was ever a commodity investment product, it would be an S&P500 Fund! Remember that this fee is taken out of fund returns EVERY year so it has a compounding effect over time. Why do they charge a different fee? Because investors allow them to by not comparing...

Why We Do What We Do...

|
May 30, 2017
|
Featured Teachers
A great message to see after a long weekend: From Angela, educator in Transition Education program: I love the Next Gen Personal Finance program. Katie and I shared this with our colleagues. We both were excited and loved this program we were introduced to by Donorschoose. We had to share this wonderful program. We as a school have purchased programs that have been honestly a waste of money. It was a honor for Katie and I to share this with our colleagues as we watched it on our school...

Question: What's the Cost of Bad Credit?

|
May 29, 2017
|
Credit Scores, Question of the Day, Research, Current Events
It’s so predictable. Whenever we are planning for a high school workshop, we will survey the students and/or the teachers to find out what topics they want to learn more about. Almost never do we see the words “credit scores” on that list. As the old saw goes, “teens don’t often know what they don’t know” and I would put credit scores firmly in that category of “not knowing” for them. Yet, we all know the importance of them getting off to a...

What Is the Most Common Form of Non-Cash Payments?

|
May 29, 2017
|
Debit Cards, Payment Types
Answer: Debit cards (by a long shot) From Federal Reserve (hat tip to Big Picture Blog): _______ On the subject of debit cards, check out the NGPF Lesson: Pick A Payment Method where your students will learn the various pros/cons of different payment methods. ...

What I'm Reading This Memorial Day Weekend

|
May 26, 2017
|
Credit Cards, Behavioral Finance, Index Funds, Debit Cards, Current Events
I love long weekends to catch up on some reading, here’s what has my attention this week: The Other Difference Between Jeans and Mutual Funds (Bloomberg); identifies reasons for Vanguard’s recent domination of the mutual fund industry: “The majority of funds are actively managed and 80 percent or more of them routinely fail to beat their benchmarks net of fees. Clearly, there’s an incredibly low probability that investors will get what they’re paying for. That realization...

Podcast: How Can I Use Money Effectively To Promote My Happiness?

|
May 26, 2017
|
Behavioral Finance, Research, Current Events, Audio Resource, Parent Conversations, Podcasts
I thought you would enjoy this Meg Faber podcast while you were on one of those long summer drives with your family. It could lead to some great conversation too! Lots of thought-provoking wisdom from Elizabeth Dunn, co-author of the 2014 best-seller Happy Money: The Science of Happier Spending. In the podcast, she discusses new research into behavioral finance that she summarizes into five core principles that may make you think differently about how money can “buy” happiness: ...

We Are #7, We Are #7, We Are #7: When Is the U.S. Going to Commit To Financial Education?

|
May 24, 2017
|
Financial Literacy, Research, Personal Finance, Current Events
PISA Financial Literacy results are out and here are the standings (by country): Yes, there we are at 487, just below average of the 10 OECD countries tested. Note that these scores from the 2015 test (not sure why it takes 2 years to release these results but I digress). Have your students complete some of the sample questions from the test.   Strong linkage between bank accounts and test scores in this summary sheet about U.S. results: “In the United States, 53% of 15-year-old...

Schools in the News

|
May 24, 2017
East students showcase college prep work (Wauwatosa Now) A community event was held May 22 at Tosa East to showcase a new program at the high school — one that helps students prepare for college and build an appealing resume at the same time. Under the guidance of teacher Megan Sampson, Advanced Placement students at East displayed research work for parents, faculty and other members of the community. High school students learn business fundamentals (Lethbridge Herald) Some...

Bringing Financial Education To 1,200 Classrooms In 60 Days: What We Learned from Our DonorsChoose.org Partnership

|
May 24, 2017
|
Current Events, Financial Literacy, Schools In News, Featured Teachers
We set a goal this spring to bring Next Gen Personal Finance (NGPF) activities and projects into 1,000 new classrooms throughout the U.S. Our experience leading workshops at dozens of educator conferences all over the country had demonstrated the power of trial. That is, getting educators to spend 15 minutes “trying” out our website using a Scavenger Hunt had a powerful effect as we often heard: “I wish I knew about you sooner.” “There is so much here that I...

Amanda and Laurie's Classrooms of the Future

|
May 24, 2017
|
Schools In News, Featured Teachers, NGPF Fellows
In March, we blogged about a news article profiling NGPF Fellow Amanda Volz’s upcoming “Classroom of the Future” remodel at St. Clair High School in Michigan. If you’re a Facebook user, you can see beautiful pictures of her classroom (and her students in action)! And, now that we’ve announced our Summer Institute participants for 2017, we’re pleased to share classroom pictures from Laurie Gardner’s newly redone Classroom of the Future at Marine City High...

Student Loans: You Better Know What You're Signing Up For!

|
May 24, 2017
|
Activities, Activity, Paying for College, WebQuest, Student Loans, Current Events
As your seniors head off to college in the fall, you better arm them with the information they need to succeed financially during and after college. The biggest issue they will deal with in college: Student Loans. They will be required to go through an online “counseling” process which I would describe as “too little, too late” just before their loan is disbursed. I was trying to come up with a fun way (Ok, I might be stretching it here) to get them to review what in...

Chart: How Has Household Debt Grown Since the Great Recession?

|
May 22, 2017
|
Chart of the Week, Credit Cards, Current Events
The answer might surprise you: Questions: Which type of lending saw the biggest drop during the Great Recession which began in 2008-09? What do you think led to this downturn? Which form of lending saw the biggest increase during the Great Recession?  How much did it increase? Why do you think it rose so much? What is the chart measuring on the Y axis? A friend says the following about the chart: “People are now borrowing more overall in 2017, then they did in 2008.” Do you agree...

Search

Categories