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What Are We Watching? Three Of Our Latest Curated Videos

The NGPF Team is always scouring the web for videos to add to our Video Library. Here are the latest that the team has uncovered:

Pay Day 101: Direct Deposit (from Young Illinois Saves), duration of 3:48, provides a good description of how direct deposit works from the perspective of young adults:

What I Have Been Reading This Week…

Here’s a weekly round-up of articles that caught my attention this week that I thought you would find interesting:

  • Want to find out what it feels like to own a volatile stock? Find out how this investor got emotional by making a $3 trade in this MarketWatch article, “I drove myself crazy by investing $3 in the stock market.”

“Turns out, it doesn’t cost much to drive yourself batty over your investments. For the past week, ever since I broke one of my cardinal investing rules by buying an individual stock, I have experienced pronounced emotional swings over the company’s every tick and trade, feeling accomplished when the price rises and despondent when it falls.”

  • You may have heard about robo-advising to create passive investing portfolios, now the largest fund company in the world is investing in algorithms to make stock picks in actively managed funds. Find out more in this NY Times article “At BlackRock, Machines Are Rising over Managers to Pick Stock,”

Laura’s Insights: NGPF in the Classroom!

This year, NGPF took our show on the road and taught personal finance workshops in several local schools.  These experiences included a 3 day workshop at the Nueva School (San Mateo), a four session workshop at Castilleja school (Palo Alto), seven sessions with an AVID classroom at Mountain View High School (Mountain View) and our intensive 6 week workshop at Eastside Prep (East Palo Alto). In this post, I will share my experiences at the Castilleja School, an all-girls school just down the road from our office.

Given the time constraints (only 4 sessions), I modified our recently released 8-Hour Workshop and focused on Paying for & Budgeting During College, Understanding Debt & Credit, Why Credit Scores Matter and finishing with a Crash Course in Investing.

In each of the sessions, the girls engaged with the content and asked many great questions. Here were some of my highlights:

You Know That Annual Fee On Your Credit Card…Well, It’s Negotiable!

From WSJ (subscription):

More than 80% of people who ask their card company for relief from their annual fees receive it, according to a new survey. Most get the fee waived entirely, while a smaller portion receive a fee reduction, according to a CreditCards.com report released Monday that surveyed around 950 card users.

Why are card companies so flexible? Well, it’s a competitive marketplace out there:

By |March 29th, 2017|Activity, Audio Resource, Credit Cards, Current Events, Research|

Resource Lists for Financial Educators (courtesy of Barbara O’Neill of Rutgers Cooperative Extension)

What does a distinguished professor do during her sabbatical? Curate personal finance resources, of course! In this blog post, Barbara O’Neill shares the fruits of her hundreds of hours of labor in putting together three awesome resource lists (see bottom of post for links to her lists), including what what she considered the “best of the best” from the NGPF library. As she describes below, the purpose of her odyssey was to replenish her “well” of creative learning activities. I hope that your “well” overflows as you find resources that will work in your classroom. Thank you Barbara for this tremendous gift to the community! Your commitment and dedication to improving financial literacy in this country inspires us.

Question: What Financial Products Should A Young Person Use To Manage Their Money?

Hanging out on the Boglehead Forum today skimming the topics that have received the most replies. Forums seem so “old school” in this age of social networks (Facebook, Twitter, SnapChat) but the ones that have survived and thrived have done so for a reason. For those not familiar with the Boglehead Forum, the forum is named in honor of John Bogle, founder of Vanguard Investments, and attracts knowledgeable, thrifty investors passionate about sharing their knowledge in a variety of topics. Anytime I descend into the rabbit hole of a forum thread, I find myself wiser for the time invested. Students need to know where to go for reliable, credible sources for financial information.

I thought your students would benefit from this thread titled “College-bound teens and finances,” since it takes a holistic view on how to set up a young person for financial success from a parent’s perspective (other people’s parents which probably helps:) Here was the opening question on the thread: 

The FED Raised Interest Rates At Their Last Meeting…How Much Will That Cost Credit Card Revolvers (in Billions)?

Answer (from MarketWatch based on NerdWallet analysis): $1.6 billion

From MarketWatch:

The Federal Reserve raised its target range for federal funds by a quarter percentage point to 0.75%-to-1% on Wednesday, and signaled two more rate increases in 2017. Put another way, this increases how much banks will be charged to borrow money from Federal Reserve banks. (The Fed raises and lowers interest rates in an attempt to control inflation.)

I know some of you are trying to figure out how that decision from the Federal Reserve translates into higher costs for credit card revolvers. Here is the transmission mechanism:

By |March 21st, 2017|Credit Cards, Current Events, Math, Question of the Day|

Top NGPF Podcasts

Looking for a great opportunity to deepen your knowledge on a topic that has been vexing you for weeks, months or maybe even years? Well, the NGPF podcast is a great place to turn. I interview experts including educators, NY Times bestselling authors, columnists at leading newspapers, researchers and academics. I thought I would share with you our top 10 podcasts over the past 12 months, based on data from Soundcloud:

By |March 14th, 2017|Credit Cards, Credit Reports, Credit Scores, Investing, Podcasts|