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