Budgeting

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Article: How Online Shopping Makes Suckers of Us All

Rather long (about 15 minute read) but intriguing article from The Atlantic that provides great context for trends that I have blogged about the growth of online shopping (here and here). The article describes how in this era of “big data” retailers are harnessing consumer information to price discriminate and obliterate the concept of a fixed price.

Here are a few excerpts:

Interactive: How Did The U.S. Government Spend A Few Trillion Dollars In FY2016?

I thought Econ teachers might like this interactive website. Steve Ballmer, former Microsoft CEO and owner of the L.A. Clippers (A $2 billion purchase) has done a public service by harmonizing data from federal, state and local governments and putting it all on a website, USA Spending.gov (note that this interactive may move here this summer).

So, how did the federal government spend $3.85 trillion in FY2016? Note that on the website, you can scroll your mouse over the individual elements to get additional information.

By |May 11th, 2017|Budgeting, Chart of the Week, Interactive|

Question: What Does It Mean To Be An Adult?

An entertaining question to get a discussion rolling with your students. Note the number of items at the top of the list that are related to finances (e.g., paying own bills, full-time job, financial assistance…). How many are covered in your class?

From BuzzFeed:

By |May 4th, 2017|Budgeting, Current Events, Investing, Taxes|

NGPF Podcast: Tim Talks To Co-Creator of “Spent” Game, Jenny Nicholson

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I first heard about the game Spent from podcast guest, Helaine Olen. She described it as one of the best simulations in how it immersed the player into what it feels like to live “paycheck to paycheck.” After playing the game in our offices, we agreed with her, wrapped an activity around it with discussion questions and added it to our Interactive Library. Teachers are glad we did since we are constantly getting feedback like this about the impact of the game on students:

Chart of the Week: What Are Your Two Favorite Platforms for Watching “Television?”

 

The answer to this question has budgetary implications given how the cost differential between the platforms. If you are a millennial, your top four platforms, based on a recent survey, are:

  • Netflix
  • Cable TV
  • Hulu
  • Amazon Prime

Hat tip to VisualCapitalist for this infographic: 

Question: Would You Rather Have $1 Million Or $5,000 Monthly In Retirement?

Interesting WSJ article that has a behavioral finance bent to it. Before I give you the answer, write down your own response to this question. Your choice will explain a lot about how you think about money. First, the reasons those two choices were given was no accident. According to the article, the $1 million lump sum and $5,000 monthly payment are roughly equivalent when it comes to annuity pricing.  So what does your choice tell you?

  • Choose $1 million and you suffer from an “illusion of wealth.” What is that?
By |April 5th, 2017|Behavioral Finance, Budgeting, Question of the Day, Research|

Interactive: What Do Consumers Spend Their Money On?

If you are a data geek, you will love this interactive tool/data visualization from Flowing Data (be sure to click on the link to take advantage of the interactive nature of the tool):

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Let me provide some context for what you are looking at. Here are the data sources:

What does that cute, cuddly, adorable pet actually cost you?

Today, we’ve got a special treat — a guest blog post AND a teacher-generated resource — straight from NGPF Fellow Sue Suttich of Tigard High School (OR). Read on for a great activity on calculating the true cost of pet ownership!

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Each year in my Wealth Management class I have the students make a vision board. We talk about goals and what they want in life. Then they each write some short, medium and long-term goals and turn those goals into a vision board with pictures and prices that match these goals. We share them out in class and discuss how similar and different each person is in class with their “vision” of their life. One thing I noticed is a lot of students want to have a pet some day. But, the price they put down for pet ownership is really unrealistic! So I decided that it was time to make up a lesson where they could do some research on what a pet might really cost them! I shared my lesson with Jessica and she gave some advice and ideas on what else might be added or changed. The result is what looks like a fun, yet

By |April 4th, 2017|Activity, Budgeting, Featured Teachers, Lesson Idea, NGPF Fellows|