Next Gen Personal Finance

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Next Gen Personal Finance
NGPF
ngpf@www.ngpf.org
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Our mission is that every U.S. high school student will graduate having taken a one-semester course in personal finance by 2030, but we started in just one high school: Eastside College Prep in East Palo Alto, CA in 2010.

Hi, I'm Tim. I'm an entrepreneur with a passion for education. I volunteered to create and teach a personal finance program from scratch at ECP. After witnessing firsthand the multi-generational impact that a personal finance course could have, I wanted to share with a wider audience.

Hello, I'm Jessica. In the same timeframe, I was progressing from assistant principal to principal of a public high school in Brooklyn, NY. I was working to engage all students in rigorous learning and set them up for beyond-the-classroom success.

Contact Info
ngpf@www.ngpf.org
510 Waverley St Palo Alto, CA 94301
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277 Posts
Reading List for Sep 30-Oct 2

Apart from hurricane Ian, this week’s news was monopolized by the stock market decline, between the new UK government’s announced tax cuts’ impact on British markets and more inflation/interest rate woes worldwide.

 

Economics

  • Personal Consumption Expenditure data were released today. Consumer spending and income rose in August after a brief dip in July. The PCE price index increased 0.3% month-over-month. Excluding food and energy, the index
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    NGPF Podcast: Yanely and Hayley Hershman discuss new teen podcast, Dear Future Me

    There's a new podcast for high schoolers in the works. What topics will it cover? What's Yanely's role in it? When's it going to be launched? Answers to these questions and more in this podcast! 

    The team at Marketplace is always coming up with creative ideas to engage younger audiences on money issues. Their podcast, Million Bazillion, has been a huge hit with middle schoolers and now they are ready to take on the high school audience. In this podcast, Yanely

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    FinCap Friday: The Fed vs Inflation

    In September of 2022, The Fed increased the federal funds rate to a range of 3% - 3.25%. This was major news in all major media outlets. But many people don't understand the reason why this was considered such a big deal! Find out why in this week's episode of FinCap Friday below:

    If

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    Interactive: What's Your Personal Inflation Rate?
    The Financial Times created this interactive to break the inflation rate into its budget components (e.g., rent, transportation, food, food) Use the default amounts provided and compare inflation rates across the three countries. Use the Y-axis scale when comparing. Based on the latest statistics, how would you rank the countries from highest to lowest national inflation rates? Then move the slider to the right (increasing cost) for each one individually and see the impact on the personal inflation rate.
    Tim & Yanely discuss rising interest rates and high inflation

    Tune in below to hear Tim and Yanely chat about this week's topic for FinCap Friday: The Fed vs Inflation.

    The episode will help students answer the question: How is the Federal Reserve raising interest rates supposed to decrease inflation?

     

    The quick discussion explores questions like:

    1) How have interest rates changed recently?

    2) Why did the Fed make recent changes?

    and

    3) What

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    Question of the Day: What percent of online sales go through Amazon?
    Nearly 60% of all online retail purchases in the U.S. were done on Amazon last year, new PYMNTS data show. In fact, the new findings defy the logic that says it gets harder to grow a large business, having doubled its share of the domestic retail piece to 56.7% in 2021 from 28.1% in 2014. Explore how much marketing influences your purchasing decisions in ANALYZE. The Influence of Advertisements in ANalyZE. --------------. -------------- .
    So Expensive Series - College Textbooks
    NGPF's activity series is based on Business Insider's web series: So Expensive. Students will watch a video about a specific product or service, identify the specific factors of production that impact its price. The activity includes a video and infographic that will give students the foundational knowledge needed to understand the factors ofProduction and put that knowledge to use. The activity can be used to supplement your existing personal finance lessons.
    Question of the Day [Hispanic Heritage Month]: Of all new businesses, how many are Hispanic-owned?
    Hispanic-owned businesses are opening at a higher rate than the national average. Behind the numbers: Nearly one in four new businesses is Hispanic-owned. The nearly 5 million Hispanic-owned businesses in the United States contribute more than $800 billion to the American economy annually. There are more than 300,000 Hispanic-owned, employer businesses located across all 50 states and the District of Columbia. These enterprises employ at least one employee other than the owner. Hispanic employer businesses employ... more
    Find us at the NCTM & CEE Conferences this week!
    NGPF team members will be exhibiting and presenting at two conferences this week. The NCTM Annual Meetings bring together thousands of mathematics educators from all over the world to collaborate, network, learn, inspire, and much more. NGPF will be sharing information on the Financial Algebra course, math activities, and a new math website coming soon. The Council for Economic Education’s Financial Literacy & Economic Education Conference in Chantilly, VA, will be on Friday morning.
    Question of the Day: What state has the highest minimum wage? lowest minimum wage?
    The federal minimum wage is currently $7.25, but do you know the states that have higher or lower minimums? Why do you think that so many states have minimums higher than the current federal rate? What are the arguments for/against raising the minimum wage? Click here for the ready-to-go slides that you can use in your classroom.
    Collaborate with Educators At NGPF Professional Development This Week (September 26 - September 30)
    Our Speaker Series this week features Gary Mottola, research director at FINRA, who will share the highlights of the National Study of Adult Financial Capability. Find out what's new with fully updated Semester Course and learn how to trim down or build up an NGPF lesson to fit your class duration. Also, we're offering another opportunity to brush up on the FAFSA before it opens this Saturday. All times listed below are Pacific Time. Watch the video explainer here.
    Question of the Day: Which 5 MLB baseball teams have the highest team payroll?

    The baseball regular season is coming to a close. How do you think team spending affected success this season?

    Answer:

    1. Los Angeles Dodgers: $284.73 million
    2. New York Mets: $266 million
    3. New York Yankees: $236.84 million
    4. Philadelphia Phillies: $224.45 million
    5. San Diego Padres: $211.97 million

    Questions:

    1. What
    ... more
    EconExtra: Digging into the FOMC Data—What is the SEP?
    EconExtra is a series of posts that go beyond the textbook, relating current events and recent developments in economics to content standards. Examining the SEP opens a window into what the participants are thinking as well as how that thinking changes over time. The SEP PDF contains good examples of many basic statistical measures and tools --median, measures of central tendency, ranges, dot plots, box and whisker plots. The rest of the document moves into risk assessment and confidence intervals. For more... more
    NGPF Podcast: Dr. Becky Rayburn-Reeves and David Condon on building games for NOVA Financial Labs
    NOVA Financial Lab developed three games to teach students about the built-in biases that impact the decisions we make about money. In this podcast, you will get a behind-the-scenes look at what went into developing the games. You will also learn about Yanely's role in the videos that precede the game play and explain the key behavioral concepts behind each of the games. The games can be played by a wide range of people.
    Reading List for September 23-25
    The Federal Reserve Open Market Committee met this week to raise the target interest rate to 75 basis points. Gold hits its lowest point in two years, and the dollar rises as do yields. A startup works to uncover identities in crypto transactions, helping the FBI and other government agencies recoup extortion payments. A survey by Northwestern Mutual found non-mortgage debt has decreased 25% over the last three years. The St. Louis Fed tracked families.
    FinCap Friday: Major Changes to FAFSA
    A number of changes will begin in July of 2023, but some will already be reflected on the upcoming FAFSA starting this October 1st. Check out this week's FinCap Friday to learn what changes you can expect to see this year. If you're short on time for this activity, try our simplified No Tech version containing embedded questions right in the slide deck. They're not date-dependent. Check out all our Fin Cap Friday episodes here.
    EdPuzzle: Games That Can Teach You About Money!
    This video highlights some specific games where money lessons are learned. From Monopoly to Roblox, you can find financial lessons everywhere! Visit our Video Library and type in "EdPuzzle" into the search bar at the top to view the rest of our EdPuzzle videos. If you do create free teacher and student accounts, you will then be able to capture and save student responses.
    Interactive: Gifting Sense Gets Young People to Think Before They Buy
    The goal of Gifting Sense is "teach students to think before they buy" Students complete a DIMS (Does It Make Sense?®) Score calculator to “get what they want" Students are then guided through a process to figure out the total cost of the item/experience. The site includes a useful teacher tab with a video explainer on how best to use with your students. They recommend for grades 4-8. After you use your students, we'd love to hear to hear how it goes. Here are more interactive resources. The site is also... more
    Interest Rates Rise Again: Federal Reserve September Press Conference Activity
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    Tim & Yanely discuss changes to FAFSA

    Tune in below to hear Tim and Yanely chat about this week's topic for FinCap Friday: Major Changes to FAFSA! As usual, the episode will end with a few tips for students about how to take action now to prevent themselves or their family members from taking on an exorbitant amount of student loan debt:

    The quick discussion explores questions like:

    1) Which major changes should we expect in 2022? Which changes will be implemented later?

    2)

    ... more
    Question of the Day [Hispanic Heritage Month]: Xavier Gutierrez is the first Latino President and CEO of a team in which major professional sports league?
    Is it the NFL? Maybe Major League Baseball? Or how about the NHL? Don't forget the NBA. Extra credit if you can name the team he leads! Answer: Xavier Gutierrez is the first Latino President and CEO in the National Hockey League, leading the Arizona Coyotes Hockey Club. Questions: What are the skills that you need to lead the business operations of a professional sports team? If you had the chance to interview Mr. Gutierrez what is one question that you would ask him? Here are the ready-to-go slides for this... more
    Curriculum Announcements: Semester Course Block 3 Nearpods!
    Last week we released the final block of newly updated Semester Course units. With that final update, we’re excited to release the newly updated Nearpod decks for those same lessons. Head over to the Semester course page to check out the new lessons and Nearpods for yourself. If you are a NGPF Nearpod license Grant Recipient you will also be able to access NGPf’s new SC Nearpod lessons in the District Library of your Nearpod account.
    So Expensive Series Is Back - $50k Honma Golf Clubs?!

    If you're in the market for Honma golf clubs, you might want to be sitting down when you see the price tag.

    Equipment can be one of the priciest things about the already expensive sport of golf. But what good are fifty-thousand dollar clubs if you have a fifty cent swing? Discuss this with your students in NGPF's activity series based on Business Insider's web series: So Expensive

    Students will watch a video about a specific product or service, identify the specific

    ... more
    Question of the Day: What's the maximum fee the first time a cardholder is late paying their credit card bill?

    Credit card late fees rise with inflation and the maximum fee was just adjusted on January 1, 2022. What do you think the maximum fee rose to? 

    Answer: $30 (as of 1/1/22)

    Questions:

  • What do you think are some of the reasons that people pay their credit card late?
  • Do you think it’s worthwhile to call the credit card company to try and get this fee waived?
    • Check out this earlier Question of the Day for the answer
  • What's
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    Curriculum Reminder: The Semester Course Has Been Updated!
    All 10 Semester Course units are updated and ready to use! The old semester course is still accessible via this link through the 2022-2023 school year. Block 3 Nearpod decks will be released this Thursday 9/22! New scope and sequence: Behavioral Economics Banking Investing Types of Credit Managing Credit Paying for College Insurance Taxes Budgeting Consumer Skills (5 lessons) Check out the newly updated Semester.
    Podcasts in the Classroom - Labor Strikes and the Rise of Union Memberships
    This week's PITC uses a variety of shorter, readily available podcasts to discuss how the tight job market is shifting the balance of power in workers' favor. 9/15 Morning Brief - Costly rail strike averted and number working from home tripled! 9/12 Midday Report - Rail strike threatening and Minnesota nurses walk off the job 9/8 Closing Bell - IMF economists predict US unemployment will have to double to tame inflation 9/2 Closing Bell - Jobs report better than expected, labor force participation rises 8/30... more
    Collaborate with Educators At NGPF Professional Development This Week (September 19 - September 23)
    Our Speaker Series this week features our own Yanely Espinal, who will share about the new podcast for teens all about money. The podcast was created through a partnership between Marketplace and NGPF. See what else we're offering in this week's virtual PD roundup. Register now for one of our LIVE professional development opportunities. The FAFSA is open on Oct. 1. For more information, visit the FAFS on the FafSA to see how you can share more info with your students.
    Math Monday: Stay Tuned for NGPF Math!

    Great news, math teachers - NGPF Math is coming soon! In the next week, we’re launching a new convenient homepage for all our math resources you know and love. Keep reading for a sneak preview of what to expect.

     

    Why a New Page for NGPF Math?

    We hope this new page will be a one-stop shop for all things math at NGPF. You’ll be able to easily find engaging and relevant activities for a specific math topic or filter for math activities that might

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    Question of the Day: What is the average fee to take money out of a non-network ATM?

    ATM fees are trending downward, but there are still ways to avoid them... 

    Answer: $1.77

    Questions:

  • Did you know that there is a charge for taking cash out of an out-of-network ATM? Do you think most people who use ATMs that are out-of-network are aware of this charge?
  • Why do you
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    EconExtra: Is the Housing Market in a Recession?

    Wharton professor Fernando Ferreira explained that he doesn’t think the housing market is in a recession in a recent Knowledge@Wharton article. So what story can we tell from the data we are seeing?

     

    EconExtra is a series of posts that go beyond the textbook, relating current events and recent developments in economics to content standards, and providing resource suggestions to help you incorporate the current events into your lessons

     

    The

    ... more
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