Monthly Archives: November 2016

//November
­

Question: How Much Do Consumers Spend Annually on Product Warranties?

Answer (From Marketplace.org with 2 minute audio below): Over $42 Billion

Questions

What Words Come To Mind When You Think of Next Gen Personal Finance?

We asked this question of the 20+ scholarship-winning teachers at the recent JumpStart National Educator Conference in Dallas and here’s what they said:

screen-shot-2016-11-17-at-3-22-09-pm

Note: Word clouds don’t do so well with answers of more than one word such as “problem solving” and “real world.”

Look for more real-world, relevant and engaging content coming this Thursday with our latest product release! Or should I say releases? Stay tuned.

By |November 30th, 2016|Featured Teachers, Question of the Day|

If You Only Had An Hour To Teach Communication Skills….

….use the activities described in this workshop as a foundation.

Your personal finance class provides you with an excellent opportunity to develop your students’ communication skills. You can give your students practice on making persuasive arguments during a debate or perhaps, how to effectively present their recommendations using one of NGPF’s case studies. Many teachers wonder how to provide a foundational lesson in communication that students can utilize as a framework throughout the course. Well, I stumbled upon one this morning that your students will love.

The title of this workshop is “Think Fast, Talk Smart: Communication Techniques.” I have summarized the 58:19 workshop below and listed the four activities that the speaker, Dan Abraham, demonstrates to build that communication “muscle.” He also provides techniques about how to overcome those anxious feelings that almost everyone feels leading up to their public speaking opportunities.

Notes from the workshop:

NGPF: Tim Talks to Pat Page, Award-Winning Educator and Passionate Advocate for Financial Education

 6ptl3-8h_400x400

Thanks to Pat Page for the great conversation we recently had on the NGPF podcast. Pat shared her insights and expertise on many topics that financial educators will find helpful. You will learn about Pat’s approach to using technology in her classroom, teaching spreadsheets, using pithy phrases to focus student attention and telling stories that bring financial topics to life. You will also hear the inspiring story of how a group of students at her high school lobbied the Rhode Island legislature to make financial literacy a priority in the state. Enjoy!

Details:

What Do You (and Your Students) Need to Know About Behavioral Finance?

download-4If you have some time over the holidays, I recommend this 39 minute FT podcast (The Psychology Behind What We Do With Our Money) and accompanying paper: The Psychology and Neuroscience of Financial Decision Making. Why is this worth your time? It provides an fascinating summary of the latest experiments being run to help us understand why we make the money decisions that we do.

Here were some of the interesting tidbits (numbers refer to footnotes cited in the paper):

How Much Do Consumers Pay Annually In Credit Card Late Fees?

bf-am138_latefe_16u_20161124153006

Answer (from R.K. Hammer as reported in WSJ): Over $10 Billion in 2015

Other interesting facts from the WSJ article:

Interactive: What’s Your Leadership Style?

Plug this interactive into your Career or Leadership lesson and spark a great conversation about leadership styles. Students can complete this simple nine question survey from Quartz and determine what their leadership style is. Here’s a sampling of the statements (or questions) that students will respond to:

Question: How Much Did High School Teens Spend on Apparel In The Last Year?

download-3

Answer (from NPD Group reported in Wall Street Journal): $18.8 Billion

See how your students answers to these questions compare to these quotes from the Wall Street Journal article:

  • Are teens more price sensitive than years past?

Analysts say teenagers are more price sensitive than in past years. “They grew up very cognizant of the Great Recession and their parents not being able to affordable everything they might have wanted,” said Melanie Shreffler, senior director at Cassandra, a youth-focused research firm. “For this reason, they are actually very pragmatic about purchases.”

  • Do they like traditional retailers (like A&F/Gap) or lesser known brands?