Category Archives: Checking Accounts

Overdraft U: Warning to College Students Opening Their First Checking Account

March 2015 report from Center for Responsible Lending highlights the dangers of overdraft checking account fees for college students:

Major Findings

  • Many student bank accounts have abusive overdraft features that are no better (and sometimes worse) than what students could find on their own.
  • Young adults are more likely to overdraw their accounts (see page 14 for distribution of overdraft fees by age). These overdrafts are both expensive, often $35, and easily preventable by the bank, which could simply decline the transaction.
  • The heaviest student overdrafters are at risk of paying more in overdraft fees with many of these accounts within a year than they will pay for textbooks and other course materials – about $700.

So, what advice should you give that incoming college frosh? Continue reading

Parental Advice: Use Everyday Events to Teach Kids About Money

NGPF was recently featured in MoneyWatch article:

“When my daughter graduated elementary school and got her first phone, I took the chance to dive into the phone bill,” says Tim Ranzetta, founder of NextGenPersonalFinance.org, which offers personal-finance educational materials for high-school and college students.

With his daughter, now age 12, Ranzetta emphasized that data usage drives the total monthly cellphone bill, which is why it is worth using Wi-Fi networks whenever they are available.

The article lists nine everyday situations that are “learning opportunities:”  I have listed NGPF activities that can help in the learning process: Continue reading

Top 10 NGPF Lessons For the 2014-15 School Year

With our first school year winding down (or already concluded), I wanted to highlight the most popular NGPF lessons, as measured by teacher views.  As for patterns, the most popular lessons are drawn from a variety of topics, however teachers tended to gravitate towards our “Basics” lessons which will provide students with good foundational knowledge.  So, without further ado, our top 10 list…

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