Question of the Day

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Interactive: Is The Career That You Are Interested In Likely to Disappear?

Lots of insightful and sobering interactive resources on this topic of job automation (see here, here and here for additional NGPF resources on this topic). Here’s another from Bloomberg (hat tip to Hari of NGPF and Big Picture Blog):

Quick orientation: 

Chart: How Are Millennials Investing Their Money?

Hat tip to The Reformed Broker for this thought-provoking chart which will get your students thinking about the importance of asset allocations:

Questions for students:

Question: How Much Does Adding A Teen To An Auto Insurance Policy Increase The Premium?

Answer (from NY Times; subscription): 78% or $671!

More from the Times article:

An annual analysis by insuranceQuotes.com, a rate comparison site, found that adding a teenager still increased annual premiums substantially, but the magnitude of the increase has been falling over the past few years.

Adding a single teenager to a policy caused annual premiums to increase an average of 78 percent, or $671. But rate increases have been decreasing since 2013, when the average increase was 85 percent.

Laura Adams, senior insurance analyst with insuranceQuotes, said that factors in the trend may include safer automobile technology, a dip in the number of teenagers getting driver’s licenses and the continued impact of “graduated” driving programs, which place restrictions on new drivers until they gain more experience on the road.

So, what strategies can your students use to minimize this cost? The article offers a few:

By |June 26th, 2017|Article, Insurance, New Products, Question of the Day|

Question: Will You Own A Car in the Future?

Interesting WSJ article (subscription) highlights how dramatically the concept of car ownership is changing in light of current ride-sharing trends and the potential for autonomous vehicles in the future. Here’s a graph that shows how new car buying has slowed dramatically among younger Americans:

Chart: Have You Bought Any Amazon Batteries Lately?

This chart below is striking fear into the hearts of branded packaged goods providers (think Pampers, Duracell, Kleenex). Why? In a short period of time, Amazon has become a leading online “private-label” supplier of common products like batteries (#1) and baby wipes (#3). Since Amazon owns the final click to the customer, collects oodles of customer data and controls the shopping experience, it is easy for them to work with a manufacturer, slap their name on the product and provide great placement for it on their website.

 Questions for students:

By |June 21st, 2017|Chart of the Week, Purchase Decisions, Question of the Day|

Interactive: What Are The Wages For Jobs In Your State?

Another great interactive from Flowing Data allows users to see top jobs and salaries by state (and for the entire U.S. of A. also). This static chart that I copied from the site displays job and salary information for the U.S. The green areas in the chart are jobs where the Median Annual Salary is $60,000 or more.

Decision Tree: Active vs. Passive

Sometimes a simple model or flow chart elucidates a complex question. Here is one example of that principle (from Mr. Zepczynski’s blog):

 

Questions:

What’s the Cost Of Financial Ignorance For Young People? Or Why Personal Finance Should Be Required for Graduation!

Answer: $795 Million ANNUALLY in checking fees

  • You could buy 2 fidget spinners for EVERY American and still some money left over with that amount that young people pay in banking fees

Here were the two key takeaways based on recent research from NerdWallet (spoiler alert: It’s all about the overdraft fees):