NGPF Launches “The Fine Print”

download-9Read the fine print!

We hear that advice all the time (a quick google search found it here and here and here). Yet, we didn’t see any resources out there that would actually develop the critical thinking skills required to navigate the complex world of financial products. So, today we launched a new product “The Fine Print,” mini-lessons to give students practice with the important forms, statements and agreements they will encounter in their financial lives. Given that our website is hitting records today, this product is clearly popular with teachers!

What are the features of “The Fine Print?”

What Does the New FICO Score Measure?

bubble-scoreAnswer: Your driving behavior

From Forbes:

The new FICO score will be built using data captured while you drive. A driver would have to install the eDriving smartphone telematics solution, which will “capture acceleration, braking, cornering, speeding, cellphone distraction, and other behavioral data, as well as provide the proprietary, predictive analytics platform to fuel the FICO Safe Driving Score.”

Your driving behavior will be captured, stored and analyzed in the same way that credit risk data is captured and stored by credit bureaus and analyzed by FICO. This data will then be used to create a score. If you are constantly speeding and using your cellphone while driving, expect a bad score. 

Wonder who might be interested in this data?

Question: What’s the Future of Car Insurance With Driverless Cars?

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Answer: Not a very bright one as the frequency of accidents is expected to drop significantly.

Here’s a good way to lead off your auto insurance lesson..change is coming down the pike (pun intended).

From audio interview (4 minutes) with WSJ reporter Leslie Scism:

Question: How Much Do Car Insurance Premiums Rise When A New Teen Driver Is Added?

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Answer: Ouch. 79%!

From Money:

NGPF Podcast: Tim Talks With 2016 NGPF Teacher-Innovator Award Winners

In this podcast episode, we speak to three NGPF Teacher-Innovator Award Winners. Each year, during Financial Literacy Month, NGPF recognizes educators with an inventive and innovative streak. Chosen from dozens of submissions, these award winners projects stood out for their creativity and how they took challenging topics and brought them to life for students.

You will enjoy hearing each of these educators describe their projects, including what inspired them to create it, the details on how their projects actually work in the classroom and the student feedback that tells them these activities are achieving their learning objectives.

Enjoy my conversations with the Teacher-Innovators:

The Envelope, Please…Announcing The NGPF Teacher Innovator Award Winners


Announcing the winners of the 2016 NGPF Teacher Innovator Awards…. Drumroll please. Wait a minute, first we have some people to thank.

Thank you to all of the teachers who contributed to this contest by sharing your favorite activity. It inspires us to see the creativity and innovation occurring in personal finance classrooms across the country. Our selection process this year was made that much more difficult due to the quantity and quality of the submissions.

In fact, the quality and creativity was so high, that we decided to honor four additional teachers beyond the three that we had originally intended. We hope that you enjoy reviewing their activities (we certainly did) and find one that you can’t wait to use in your classroom.

Activity (Update): All The Finance Advice You Need Should Fit On An Index Card

Ok, I admit that I have a bit of a fascination with this concept of “all we need to know about personal finance should fit on an index card.” Why? It’s the notion that the simplest solution is often the best solution, especially when it comes to personal finance. For example, when thinking about investing, aren’t a few well-diversified index funds going to serve you better than trying to choose among 7,000 mutual funds or a similar number of publicly-traded stocks?

Chart: Why Your Parents Might Complain When You Get Your Driver’s License

Reason: Their auto insurance rates are going up as much as 115% in some states!

Here’s why: 

By |March 11th, 2016|Chart of the Week, Insurance, Question of the Day, Research|