Monthly Archives: May 2016

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Question: What Are You Looking For In A Job?

Here’s what recent college grads told a pollster (from Quartz):

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Think those student loans might be having an impact?

Question: Who’s Paying for College?

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Don’t you just love the body language? I bet they aren’t discussing the relative merits of apples vs. orange juice as a breakfast starter. The title of this post is a good question for high school juniors (soon to be seniors) to be asking their parents/guardians as they go down the path of college lists/applications/FAFSA that lurks a few months in the future. This would be an interesting polling question (using service like PollEverywhere) to gauge your classroom and get a sense of how many of your students can’t answer the question.

It would be even better to know years ahead of college to provide an ample runway for students to accumulate savings through summer/part-time jobs. Ok, I know I am old-fashioned on this one as I have been told time and again the common refrain “kids don’t save these days.” My response is somewhere along the lines of “have we helped them set goals that provide that extra incentive for them to save?”

Ok, back to the original question, I was surprised to see these results from a recent survey from a financial services firm:

College Student Survey Provides Another Reminder of The Importance of Our Work!

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Here are some survey results that provide a good reminder of how much work we have left to do to create a financially literate populace. Why do we force them to learn these lessons from the “school of hard knocks” instead of educating them in high school or college?

From LendEDU 2016 survey:

Question: How Much Food Is Wasted Everyday In Our Country?

Answer: Astoundingly, over 40%. Check out this video (4:40 in duration) with “Top Chef” Tom Colicchio from PBS Newshour:

Questions to ask your students:

Video: The Two-Minute Tax Explainer

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Hat tip to the teacher (you know who you are!), who shared this “Story of Tax” video with me at a recent workshop that I attended in New Hampshire. What do I like about it?

By |May 31st, 2016|Taxes, Video Resource|

Question: Free Credit Scores? What’s the Catch?

download (20)Most readers already know that anyone can review their credit reports annually from the three credit bureaus (TransUnion, Experian and Equifax) FOR FREE at www.annualcreditreport.com (don’t let the Freecreditreport.com ads fool you). We also recently posted here and here how more and more companies are offering their customers the opportunity to see their credit score for free. Well, now we have news that Discover is offering a no-strings attached free credit score for non-customers too (from NY Times):

Now, Discover has gone one step further and is making FICO credit scores available free to anyone — even to people who don’t have a Discover card and may have no interest in getting one. The scores are available to consumers who register online at Discover’s “Credit Scorecard” feature. “They do not need to apply for a card” to obtain a score, said Julie Loeger, chief marketing officer for Discover.

So, why would Discover be doing this (aside from getting your personal information like an email address that they can use for marketing purposes (again, from NY Times):

By |May 31st, 2016|Credit Reports, Credit Scores, Current Events, New Products|

NGPF Podcast: Tim Talks to Kerri Herrild of De Pere High School (WI) About A Project To Engage Parents

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Thanks to Kerri Herrild, Business Teacher at  De Pere High School (WI) for joining me on the NGPF podcast recently. We recently honored Kerri as anNGPF Teacher-Innovator for her “Personal Finance Goal-Setting and Expense Tracking project.” In this project which stretches over the course of a month, Kerri has her students set financial goals, track their daily spending and write several reflections about what they learned in the process (hint: it might have something to do with food spending!). The students then share their written report with their parents. Listen to this podcast to hear Kerri share a surprising revelation about a student of hers that she learned in the course of this project.

Details:

What’s The Current Utilization Rate for U.S. Credit Cardholders?

Answer: Just over 22% of available credit limits, the lowest level in 13 years

From Bloomberg:

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What is interesting is that while utilization rates are low, we are reading about credit card debt levels nearing $1 trillion. What’s happening you might ask?