Date Filter: 2017/7/

How is Personal Finance Being Taught in U.S. High Schools?

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Jul 31, 2017
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Current Events, Research, Chart of the Week
Here’s a word cloud created by our research team based on their analysis of personal finance course descriptions at almost 10,000 high schools (the larger the font of the word, the more frequently it occurs): A few observations: Where is personal finance incorporated in the curriculum? You can see that “business,” “economics,” and “consumer” are some of the more prominent words suggesting that they are embedded in these courses. What are the most...

Credit Scores: An Article and Short Audio Clip to Supplement Your Lessons

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Jul 31, 2017
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Credit Scores, Activities, Activity, Audio Resource, Article
These two resources (audio and an article) caught my attention over the past week as they provide different perspectives on credit scores. The 3 minute audio from Marketplace (below) describes the history of credit scores in the U.S. and how they have evolved over time while the NY Times provides a plain English Q&A on the topic. Audio from Marketplace (3:28): A credit score is the calculated probability of how likely you are to pay debts. But it affects where you live, what car you can buy...

Tim Talks To: Allie Nault, Advocate for Financial Education and Miss America's Outstanding Teen

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Jul 30, 2017
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Advocacy, Policy, Personal Finance, Financial Literacy
I know you will enjoy my conversation with Allie Nault, Miss America’s Outstanding Teen for 2016. From working at a 24 hour diner to grilling presidential candidates about our nation’s debt, Allie has a level of composure and maturity well beyond her years. She uses her platform to advocate for financial literacy and she travels throughout the country talking to students, parents, and teachers about the importance of financial education. Listen to this podcast and you will learn...

Chart: What Is Risk?

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Jul 30, 2017
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Chart of the Week, Research, Index Funds, Investing, Current Events
From Vanguard: I love this chart because it provides such a clear relationship between risk and return. You want more risk (say 100% stocks), well you better be prepared for great years (54.2% was the best year from 1926-2013) and be able to stomach big down years (down 43.1%) without hopping out. It also demonstrates the most important decision that an investor will make is their asset allocation or their split between stocks and bonds. Note also that stocks here doesn’t refer to picking...

Top 5 From the NGPF Blog

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Jul 27, 2017
Here’s what’s trending over the past month on the NGPF Blog: Cartoons: What Can Dilbert Teach Us About Investing?  Quite a bit, actually. Here are four of his best that are full of investment wisdom. Interactive: Auto Insurance Comparison Shopping Hat tip to NGPF Fellow, Talitha Oliveri for sharing this great comparison tool to help students see the value in shopping around for auto insurance. Interactive: What does $1,500 in Monthly Rent Buy You In Different Cities? Great...

What I Learned In My First Year of College: Words of Wisdom from Ren Makino, NGPF Intern

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Jul 27, 2017
I have always thought I was pretty good with my finances: I learned a lot going through the NGPF curriculum during my 3 years here. I am also the editor of the “Tim Talks To..” podcast so I have listened to every single financially smart person that joined a podcast with Tim.   When I turned 18, I had a lot going on with my financial life… Applied for my first credit card  Bought stocks on Robinhood. Closed my Wells Fargo account because they started charging me a fee because I did...

Article: How Is Venmo Changing The Nature of Friendships?

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Jul 26, 2017
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Article, Question of the Day, Payment Types
Hat tip to Jessica for this fascinating article about how the payment app Venmo is affecting friendships. Watch your students squirm as they discuss how they use Venmo with their friends. From NY Times: Margaret Pennoyer, an elementary school teacher in Manhattan, had just returned from a bachelorette party in Napa Valley when she received an email that had been sent to all the guests. The two organizers had itemized each woman’s individual expenses, which they had covered, and requested...

UPenn Podcast: College Admissions Process (College Tours, Picking A College, Award Letters, Oh My!)

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Jul 26, 2017
Podcast 4: The Process- Insight into the College Admissions Process Participants: Host: Eric Furda- Dean of Wharton School of Business Co-host: Eileen Cunningham Feikens- Director of College Counseling at the Dwight-Englewood School Bill Phelan- CEO of CollegeFactual David Charlow- Financial aid expert   What do families gravitate towards? Bill: People want to look for what’s behind the college name- what will this college offer you. In the United States, you have the opportunity to...

Research: What's In Your Course Catalog?

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Jul 25, 2017
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Personal Finance, Financial Literacy, Current Events
A team at NGPF is diligently scouring thousands of high school course catalogs this summer to answer the question, “Who has access to a personal finance course?” Look for our research results later this summer. I think that course descriptions are telling in that demonstrate 1) the topics covered in the course and 2) how the instructor is marketing the course to students. Here are 5 of the more dynamic personal finance course descriptions that our crack research team identified:...

For Your Listening Pleasure, The Top 10 NGPF Podcasts

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Jul 25, 2017
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Podcasts, Credit Scores, Credit Cards, Index Funds, Investing, Mutual Funds, Current Events, Credit Reports, Featured Teachers, Entrepreneurship
The NGPF Podcast started almost two years ago (and almost 100 podcast segments later) allowed me to “scratch my own itch.” To anyone who knows me, I love talking finance and since I was young I was always told that I had a voice (and a face) for radio. I thought why not try this “podcasting thing” and see what happens. My thinking was “How much fun would it be to reach out to interesting people, including educators, researchers, columnists, finance experts, authors,...

NGPF Podcast: Tim Talks To Social Entrepreneur Ted Gonder, Co-Founder of Moneythink

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Jul 24, 2017
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Podcasts, Paying for College, Student Loans, Current Events, Entrepreneurship
I had a great time talking with social entrepreneur, Ted Gonder, who co-founded Moneythink. Moneythink is a non-profit organization helping firstgen high school students navigate “to and through” college. Ted shares what he has learned since starting Moneythink out of his college dorm room at the University of Chicago and his personal odyssey to pursue the “road less traveled.” He discusses the thinking behind the new service delivery model for Moneythink and why the...

Bell Ringer Idea: A Stranger Wants To Borrow Money From You, What Questions Would You Ask Them?

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Jul 24, 2017
Teachers often mention how they struggle to explain credit scores and credit reports and how to engage high schoolers in these foreign concepts. I used this bell ringer in class on Friday for our lesson on Credit Reports/Credit Scores and it got class off to a great start. Why? Well, most of the questions that students came up with matched perfectly with the factors that determine a credit score. This made it much easier for them to grasp why these factors matter. They had to take on the role of...

Videos, Videos, Videos

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Jul 23, 2017
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Cryptocurrencies, Career, Stocks, Current Events, Video Resource, Entrepreneurship, Retirement
Stumbled upon this video trove on Ozy this morning that had some short, relevant and engaging videos that I thought your students might enjoy. Many of them ask provocative questions that can be good entry points for a class discussion: Future of Money (3:03) In your own words, what is bitcoin and other cryptocurrencies? Why is it popular? What is an example of an “intermediary” in the money business that bitcoin is trying to eliminate? Where do you think that you will keep your...

Question: Are College Costs Rising?

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Jul 23, 2017
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Chart of the Week, Paying for College, Question of the Day, Research, Current Events, Math, Economics
From WSJ (Subscription required): Questions for students: Create a one sentence description for the trends seen in each of the two graphs. A friend says, “What a bummer that college costs keep rising at an incredible rate!” Using the data from the graph on the left, provide a response to her assertion. Since 1990, all consumer prices (aka the rate of inflation) have basically doubled. Using the rule of 72, make an estimate as to what the inflation rate has averaged from 1990-2016....

Schools in the News

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Jul 21, 2017
Immokalee High School students Win Cash Prizes for Apps They Created (Naples Daily News) When asked to create an app to solve a community need in Immokalee, Alex Hernandez and Angelina Grimaldo didn’t have to think too hard. The 16-year-olds remembered their mothers’ frustrations when they saw their children sitting around doing nothing after school, with no activities to keep them busy. So they developed an app to inform area parents and children about clubs, sports, and...

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