Oct 09, 2015
Question of the Day, Research, Credit Cards, WebQuest, Current Events, Video Resource
What a great opportunity to send students out to the web to analyze recent articles about the new chip-enabled credit cards (and teach them about identity theft/credit card fraud in the process). The main controversy is one that this blog highlighted almost a year ago and that the FBI weighed in on today (before later retracting their statement which now has been deleted) (from the Verge):
The FBI has a stern warning for the credit card industry’s latest security measure, the EMV...
Oct 09, 2015
Credit Scores, Activity, Question of the Day, WebQuest, Current Events, Credit Reports
Answer: A lot. New alternative credit scoring systems are being developed by the established incumbents as well as start-ups to rate the “credit invisibles” and also provide a more robust measure of creditworthiness.
From NY Times:
THE credit reporting industry is starting to unveil alternative credit scores that use more than just bank and credit card information and allow lenders to extend credit to more consumers.
Fair Isaac, creator of the widely used FICO credit score, has been...
Sep 01, 2015
Activity, Research, Identity Theft, WebQuest, Current Events
I often get a request from teachers asking for lessons about identity theft. Given how quickly the bad guys modify their methods, I thought rather than create a lesson, have students do web research to find 10 ways to protect their identity. To ensure they use multiple sources, require them to use at least three reputable sources. Once they have the list of ten created, ask them to identify which steps they can use in their lives to protect their identities.
Here’s a recent article...
Aug 18, 2015
WebQuest, Purchase Decisions, Current Events
Update: Cell phone plans continue to change! Check out our more recent blog post in February, 2017 for the latest on cell phone plans.
Tectonic shift occurring with cell phone plans. Here are a few stories that your students could read and summarize (or you can send them out to the web to look for recent stories on this trend also) with the focus on understanding how this change will impact consumers:
Cell phone contract era is so dead (Fortune Magazine)
Jun 01, 2015
Credit Scores, WebQuest, Current Events, Credit Reports
This could be a good WebQuest activity as it involves reading and interpreting articles focused on how regulations surrounding credit reports are changing. Ask your students to find 3-4 sources about changes that have recently been announced with credit reports. Here are some key questions for them to answer:
What are the details about credit report changes?
For each of the changes announced, who will benefit from it?
What are key credit report terms that you found in these articles?...
May 24, 2015
Credit Cards, Identity Theft, WebQuest, Debit Cards, Current Events, Financial Scams
“Criminals are stealing card data from U.S. automated teller machines at the highest rate in two decades, preying on ATMs while merchants crack down on fraud at the checkout counter.”
Why does this matter?
If fraudulent transactions are made on your credit-card account, there is no immediate financial hit while you straighten things out, notes Greg McBride, chief financial analyst at website Bankrate.com. By contrast, if a thief is able to withdraw dollars from your bank account,...
May 05, 2015
Activity, Budgeting, WebQuest, Current Events
The calendar rolls over to May and students (and teacher’s thoughts) turn to summer. How about using summer vacation as a means to teach students about budgeting and shopping on the internet? Their task: Plan a weeklong summer vacation for a family of four for $1,600 or less, which according to Money Magazine is the average vacation cost for an American family.
Have your students work in teams of 2 and complete a webquest to create a travel budget. First, students can search for...
Apr 23, 2015
Activity, Paying for College, WebQuest
The acceptance letters and the financial aid award letters have been read, analyzed, re-read and crunch time is upon those college seniors making decisions on where they will attend college this fall. We all know that this decision, however, is only the beginning of the process as students and their families devise strategies to pay for college.
For those students still looking to capture some of those free dollars, this activity “Finding College Scholarships” will come in handy. The...
Apr 21, 2015
Credit Scores, Activity, Credit Cards, WebQuest
As I mentioned in earlier post, we at NGPF love activities that hone student comparison shopping skills. Even better, if they learn how to use the web to their advantage in combing through offers and finding one that matches their criteria. This activity “Research: Find the Credit Card With The Lowest Interest Rate” accomplishes the first two objectives while also exposing students to the language and vocabulary of credit cards in an activity that creates a healthy level of competition...
Apr 17, 2015
Behavioral Finance, Investing, WebQuest, Stocks, Current Events, Chart of the Week
Does this look like a company whose earnings dropped in the last quarter?
I like this activity because it teaches students the importance of expectations and also how investors value companies using different metrics (clearly earnings don’t drive Netflix’s stock price).
The assignment is simple:
Find 2-3 recent articles about Netflix stock that are related to their earnings announcement from this week. If you are time constrained, here a few good articles:
Bloomberg (with 3 minute...
Dec 15, 2014
Credit Scores, Activity, Credit Cards, WebQuest, Current Events
This might be a fun and quick activity for your students. Give them ten minutes to search on the web and see who can find the credit card with the lowest interest rate (note: excludes credit cards offering a 0% APR for an introductory period!). Be sure they list their source.
This is not as easy an exercise as you might expect. For one, when you google “credit card with lowest interest rates” most of the top results come from credit card comparison sites, which may have their own...
Oct 23, 2014
Lesson Idea, Investing, WebQuest, Current Events
The day that Amazon reports earnings tends to be a volatile one and today is no exception, with its stock price dropping 10%.
While I am not a fan of encouraging students to go the active route and pick stocks (I’m a passive indexer as I discuss here), I think this WebQuest where students get to play super sleuth will help them understand how expectations are a key driver of short-term stock prices (with earnings driving their long-term stock price performance) while also learning about...
Oct 20, 2014
Activity, Question of the Day, Budgeting, WebQuest, Payment Types
Interesting question to ask your students to get a sense how many might be using of the financial apps below. These are five apps the WSJ highlighted in a recent blog post which would seem to be more relevant for college students but might be interesting to see if you have any early adopters:
You Need a Budget
You could also ask your student to add to this list through a WebQuest and explain what the use cases are for each app that they find.
Oct 02, 2014
Activity, Question of the Day, Research, Savings, WebQuest
This is a great 5 minute research exercise where students go on a Webquest (research on the Web) to answer the question of the highest rate that they can earn on a consumer savings account if they want to deposit $1,000. Raise the stakes by offering a small reward.
What will they learn from this short exercise?
Lots of websites track this sort of information (require them to list the source for their answer)
Why do websites often have different answers to this question? They may only post...