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NGPF Podcast: Tim Talks To NGPF Fellow Amy McCabe of Culpeper High School (Virginia)

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Thanks to Amy McCabe for taking the time to participate in this recent NGPF Podcast. I got to know Amy during our inaugural Summer Institute in 2016 and was struck by her passion for teaching and for ensuring her students get the skills they need to succeed in their financial lives. In this podcast, you will learn from Amy what it’s like to teach in a state with a personal finance mandate. She discusses her approach to teaching challenging topics, such as investing and insurance and how she injects story-telling into her lessons. You will also discover what Amy bought for $10 recently that brought great joy into her life. Enjoy!

Details:

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 Percentage of High School Seniors Have A Driver’s License?

Answer (from Pew Charitable Trust): 71.5%, a significant decline from 85.3% in 1996.

See chart below the line:

Question of the Day: Why Are Car Insurance Rates Going Up?

Answer: More accidents due to “distracted” drivers.

Ok, I know you are not teaching a driver’s ed course, but this is an incredibly important message to get across to new drivers: Don’t Text While You Drive! Here’s the data showing the increase in car-insurance premiums due to more driving and more crashes (from WSJ (subscription)):

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 Marketplace.org 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: