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26Apr, 2017

Schools in the News

By |April 26th, 2017|Article, Featured Teachers, Financial Literacy, Research, Schools In News, Teaching Strategies, This Week In Financial Literacy|

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  • How Microlending Builds Financial Literacy Skills and Empowers Students (Education Week)

Teachers understand that creating authentic, real-world learning experiences engage students in a way that improves learning and makes it more enjoyable. At Town School for Boys in San Francisco, 6th graders engage in a yearlong study of microfinance using project-based learning that explores what it means to run a business while developing meaningful success skills along the way. While global education initiatives have traditionally focused on humanities and science classes, the boys find many lessons of mathematics complement their journey while partnering with nonprofit Kiva.org, which is headquartered in San Francisco.

First period at Bennett High School was interrupted Monday by a rock concert. At least it started out that way. The Nashville-based, Kansas-bred band GOODING rocked the high school’s auditorium for four or five songs before the band’s lead singer and namesake turned teacher and gave the howling crowd of students a lesson on a subject they don’t often hear about in the classroom:

26Apr, 2017

Ask Reddit: What’s the Best Way To Build Credit?

By |April 26th, 2017|Credit Cards, Credit Scores, Current Events, Question of the Day, Research|

An important skill for students to build is the ability to critically analyze any form of media (articles, videos, reader comments or even friends and family) that they rely upon for financial advice. Forums such as Bogleheads can be a useful place to find financial advice but still requires a critical eye to separate the signal from the noise.

I came across this question on Reddit (“Just turned 18, What is the best way to start building credit) that had a manageable number of responses. I thought this would be a good assessment to use after your Managing Credit unit. This question about building credit has become more important for young people given CARD Act regulations that make it difficult to get a credit card before the age of 21 unless you have a parent co-signer or an independent source of income.

Here’s the mini-activity. Ask your students to…

25Apr, 2017

Chart: Which College Majors Are Hottest (In Employers Eyes)?

By |April 25th, 2017|Article, Career, Chart of the Week, Employment, Personal Finance, Question of the Day, Research|

From WSJ:

25Apr, 2017

Activity Idea: Personal Finance In My Life

By |April 25th, 2017|Activities, Activity, Advertising, Checking Accounts, Current Events, Personal Finance, Taxes|

My travels took me to Chicago and New York recently and here are some images related to personal finance that I captured:

  • Thanks to the Federal Reserve Bank of Chicago for recently co-hosting the Financial Literacy Summit with VISA. I enjoyed moderating the panel on Expanding Access to Financial Education Programs (video for Session 6  here):

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  • Would you take tax advice from a “tax truck?” Seen on the streets of New York the weekend before Tax Day:
24Apr, 2017

Chart: Could You Come Up with $400 In Case of An Emergency?

By |April 24th, 2017|Behavioral Finance, Chart of the Week, Current Events, Question of the Day, Research, Savings|

From WSJ:

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In 2015, we posted research indicating that 47% of Americans couldn’t come up with $400 in case of an emergency. These charts and data tables provide some additional context around that statistic. Questions for your students:

24Apr, 2017

Article: This Is One Case Where A PLUS Is Not So Positive

By |April 24th, 2017|Article, Current Events, Paying for College, Student Loans|

WSJ article out today warning of the dangers of Parent PLUS loans. I thought this was particularly pertinent as high school seniors pore over their financial aid award letters before making a May 1st decision. Here’s the lede:

Millions of U.S. parents have taken out loans from the government to help their children pay for college. Now a crushing bill is coming due. Hundreds of thousands have tumbled into delinquency and default. In the process, many have delayed retirement, put off health expenses and lost portions of Social Security checks and tax refunds to their lender, the federal government.

What makes this even more disconcerting is the financial aid “packaging” that often occurs where the PLUS loan becomes the

23Apr, 2017

NGPF Podcast: Tim Talks To Vince Roeshink, Educator, Entrepreneur and Former Financial Advisor

By |April 23rd, 2017|Entrepreneurship, Investing, Podcasts|

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Vince Roeshink has worn several “different hats” in his career. His current role as director of the Academy of Finance at University High School in Orange City, Florida seems the perfect culmination of a career path which has included stints as a stock broker and founder of a martial arts school (oh, and he has a black belt classification too). Vince is all about bringing the “real world” into his classroom. Learn how he does it in this entertaining conversation.

Details:
  • 0:00~1:14 – Introduction
  • 1:14~4:14 – Vince’s job and background
  • 4:14~5:53 – Financial advising
  • 5:53~7:13 – Saving for retirement
  • 7:13~10:04 – Passion for personal finance
  • 10:04~15:48 – Field trips
  • 15:48~17:18 – Student feedback
  • 17:18~21:27 – Background of students in his class
  • 21:27~27:16 – Career advising
  • 27:16~29:48 – Role of technology in the classroom
  • 29:48~33:57 – Favorite online resources
  • 33:57~34:16 – A word from our sponsor, Next Gen Personal Finance
  • 34:16~37:46 – Favorite class to teach
  • 37:46~40:52 – Favorite thing bought for under $10
  • 40:52~42:38
23Apr, 2017

Article: Financial Advice From The Stars

By |April 23rd, 2017|Article, Career, Current Events, Personal Finance, Savings, Teaching Strategies|

We know how much young people look up to, mimic and try and emulate the stars. That’s why I thought this article might grab your students’ attention. Here are a few of the 11 stars that were mentioned (I have to admit that I am having a lot of “who’s that?” moments as I skim through the article, your students probably won’t).

From Bloomberg

21Apr, 2017

What I Am Reading This Week (Ending April 22nd)

By |April 21st, 2017|Uncategorized|

  • You don’t need to be rich to enjoy the best things in life (Jonathan Clements at the Humble Dollar) shares his list of the finest things in life. I might add “finding a great resource that you can share with thousands of personal finance teachers.” One of my favorite questions to ask my podcast guests is “what is the best thing that you ever bought for $10?” which proves time and again that the best things in life are often the least expensive (or FREE)!
  • Vanguard is growing faster than everyone else combined (NY Times):
21Apr, 2017

Question of the Day: What Are the Three Most Useful Inventions of All-Time?

By |April 21st, 2017|Chart of the Week, Current Events, Entrepreneurship, Question of the Day|

Answer:

  • Most useful: Cell phone, disposable diaper and alarm clock.
  • Most important: Electricity, Internet and The Wheel

From Time Invention survey of 10,197 people in seven mature markets (South Korea, the U.S., Germany, Sweden, Australia, the U.K. and Singapore) and 10 emerging markets (South Africa, Kenya, Russia, the United Arab Emirates, China, Brazil, Turkey, India, Mexico and Indonesia).: 

20Apr, 2017

NGPF Podcast: Tim Talks To Prof. Meir Statman About Behavioral Finance

By |April 20th, 2017|Behavioral Finance, Current Events, Investing, Podcasts, Research, Stocks, Teaching Strategies|

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I enjoyed my recent conversation with Finance professor Meir Statman of Santa Clara University, which is just down the street from the NGPF offices. Meir conducted some of the earliest research in what we now know as behavioral finance. He discusses his book, Finance for Normal People, and shares his insights about how investing should be taught in school (spoiler alert: Keep It Simple!). He also describes his approach to playing the stock market game and why fees matter so much when comparing investment options. You will know more about investing after you listen to Prof. Statman. Enjoy!
Details:
20Apr, 2017

What’s New In Financial Education Research?

By |April 20th, 2017|Behavioral Finance, Current Events, Personal Finance, Research, Savings|

Hat tip to Brian Page for reminding me about the recent Cherry Blossom Financial Education Institute held in early April. Here’s a summary of a few of the papers that were presented that you might be interested in: