Answer (from CFPB and Consumerist): Credit reporting agencies (three of top four) and banks
Answer: Lots of different interest rates…
From NPR.org (if you go to the link, there is a interactive with a slider bar that allows you to see how the distribution of interest rates has changed from 2001-2013):
Ask students to provide several takeaways in analyzing this chart. which might include… Continue reading
Ok, maybe your high school students have lost all their baby teeth, but they might be curious about this…who knew that someone actually tracked this stat. Since my six year old son recently lost his first two teeth, I hope he doesn’t read this as he will surely get upset at his tightwad father.
The answer is….(hat tip to Marketplace): $3.19 Continue reading
Answer: Over 1/3 of consumers say they don’t shop around for car insurance (despite the gecko imploring us to do so and car insurance companies spending billions to persuade us to switch!)
A recent survey conducted for insuranceQuotes.com determined that the average U.S. driver has not changed insurance companies in 12 years, with about a quarter of them staying with the same carrier for more than 16 years. Thirty percent of drivers say they compare quotes every few years, while a stunning 36 percent never bother to look for the best rates.
As for who is least likely to switch…
The survey found that millennials and senior citizens are the least likely among all demographic groups to shop around for auto insurance. What’s more, 46 percent of motorists in the U.S. confessed to not knowing they can change their auto insurance carriers at any time. “Even if you paid for six months or a year of insurance upfront, the company will reimburse you if you choose to switch,” explains Adams.
Why do your students think people may be so hesitant to shop around?