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What I Am Reading This Week (Ending April 22nd)

  • You don’t need to be rich to enjoy the best things in life (Jonathan Clements at the Humble Dollar) shares his list of the finest things in life. I might add “finding a great resource that you can share with thousands of personal finance teachers.” One of my favorite questions to ask my podcast guests is “what is the best thing that you ever bought for $10?” which proves time and again that the best things in life are often the least expensive (or FREE)!
  • Vanguard is growing faster than everyone else combined (NY Times):
By |April 21st, 2017|Uncategorized|

Next Gen Personal Finance Announces 2017 NGPF Summer Institute Fellows

Next Gen Personal Finance is pleased to announce its 2017 class of NGPF Summer Institute Fellows. Due to the success of last year’s Institute, we increased our investment and will be hosting TWO Summer Institute sessions – which means 24 outstanding educators will be joining us in Palo Alto this summer! The Institute brings together a passionate and talented group of educators who will create new activities, curate resources, collaborate and deepen their content expertise in selected topics — and have a lot of FUN in the process!

Once again, we received an overwhelming number of applications for the Summer Institute, highlighting the hunger for quality professional development opportunities. To meet this need, NGPF is underwriting the cost for TEN FinCamps to be delivered throughout the U.S. in 2017. What’s a FinCamp? Check out the details (including a video) here. We currently have four FinCamps already on the calendar, so please contact Laura, our Director of Teacher Engagement at laura@nextgenpersonalfinance.org, if you are interested in learning more.

We are extremely pleased to announce The 2017 NGPF Summer Institute Fellows:

Next Gen Personal Finance Announces 2017 Jump$tart Scholarship Recipients

NGPF is excited to announce the recipients of the NGPF Scholarship to attend Jump$tart’s National Educator Conference in Washington, D.C. from November 3-5, 2017! Each scholarship winner will receive a $425 scholarship to cover the cost of the conference and accommodations and will be feted at a NGPF reception prior to the conference. 

Our scholarship winners hail from 22 different states, teach in rural, urban and suburban settings and have experience ranging from one year to over twenty years. For half of the group, this will be their FIRST Jump$tart National Educator Conference. Here were just a few of the reasons they gave for why they wanted to attend this conference:

  • “I am always looking for new ways to implement interactive methodologies and new materials into my classroom. Going to the Jump$tart NEC each year is a great opportunity to learn about what’s available from colleagues around the country and from business professionals who are dedicated to financial literacy.”
  • “I plan on taking information learned during Jump$tart NEC 2017 to teach the first ever Year Long Financial Literacy to be offered here at my high school. I will also incorporate this curriculum into my Accounting and Business classes, so that more of our

Question: How Much Credit Card Debt Are Americans Carrying?

Answer (from Federal Reserve analysis reported in WSJ): After restating earlier figures, the  level of credit card debt hit $1 Trillion in December of 2016, a level it last seen prior to the recession.

Here is a chart showing how credit card balances (a.k.a. revolving consumer credit) has varied over the past decade:

credit card debt feb 2017

Fun facts from a CBS article:

By |April 13th, 2017|Uncategorized|

NGPF Podcast: Tim Talks To Greg Hock About What Teens Need to Know About Taxes

Thanks to Greg Hock for taking time out during this busy tax season to join me on the NGPF podcast. I have been a client of Greg’s for a few years now and appreciate the value-added services that he provides that go well beyond just filing a tax return. I enjoy exchanging ideas and getting his perspective about building financial capability in young people, which come from years of experience of being a trusted parter with his clients.  I enjoyed our wide-ranging conversation in this podcast, which went from discussing the career path of an accountant to why he took the leap of faith to start his own firm and into specific teen tax tips and common myths when it comes to filing taxes. So, just in time for tax season, here’s Greg Hock…enjoy!

Details:

  • 0:00~1:29 – Introduction
  • 1:29~2:29 – How does one become a tax expert?
  • 2:29~3:46 – Experience of working at a Big 4 accounting firm
  • 3:46~5:22 – The entrepreneurial journey: starting his own accounting firm
  • 5:22~8:03
By |April 12th, 2017|Podcasts, Taxes, Uncategorized|

Simulations: How Ride-Share Companies Use Behavioral Science To “Nudge” Drivers

Lengthy article in NY Times (5,000 words, about 30 minutes) recently about the behavioral tactics utilized by Uber and Lyft to nudge its drivers to take certain actions.  Not necessary for students to read the article as I focus this post on 3 of the 4 simulations embedded within it and suggest mini-activities for students to experience the tradeoffs inherent in being a ride-share driver. The simulations also demonstrate how the best interests of the company often diverge from the interest of their drivers. I see these simulations as a fun way to bring behavioral science into the math, psychology, economics or personal finance class.

  1. How changing number of drivers impacts idleness of drivers.
By |April 12th, 2017|Uncategorized|

Next Gen Personal Finance Launches “$50K for 50 States” Financial Literacy Initiative

To mark Financial Literacy Month, Next Gen Personal Finance (NGPF) is excited to announce their “$50K for 50 States” grant program in partnership with the Jump$tart Coalition for Personal Financial Literacy. Through this grant program, NGPF will provide $1,000 grants to support the activities of JumpStart state affiliates that meet basic criteria. These state organizations, led by volunteers, deliver much-needed teacher training, advocate for greater access to financial education and support the financial literacy community in their states in myriad ways.

Laura Levine, the Executive Director of Jump$tart, commented on the grant program: 

By |April 11th, 2017|Uncategorized|

NGPF Launches 3rd Annual Teacher Innovator Contest

Here are the deets:

WHAT DO I NEED TO SUBMIT?
  • COMPLETE THIS FORM to submit details about your favorite personal finance lesson or activity that demonstrates an innovative approach to teaching a personal finance concept. 
WHAT IS CONSIDERED “INNOVATIVE?”
  • Creation of an original lesson plan or activity with a personal finance focus
  • Modification of an existing lesson or activity (e.g., creating an extension activity to challenge your high performers, finding additional resources to supplement your lesson/activity, creating a differentiated lesson/activity to meet the various learning styles of your students)
  • Modification of an existing lesson or activity to meet the needs of a specific student population (e.g., English Language Learners (ELL), Individualized Learning Plans (ILP), Special Education)

Keep in mind: your submission should be replicable for other educators and not reliant on outside partnerships. 

WHO IS ELIGIBLE?