In this episode Sam Taube van Nerdwallet tackles what many teachers say is the most difficult subject for personal finances to teach: invest. Sam shares why he believes that helping students to embrace the slow and stable approach is one of the most powerful lessons you can give them.
“One of the best ways to emphasize the benefits of passive buy-and-hold investing is that it is much, much less work and that, statistically, it produces better results,” says Sam. “It is one of the few areas in life where ‘lazy’ can really make you richer.”
SAM and NGPF-Gastheer Tim Ranzetta discuss concrete classroom strategies, such as the use of exhibition simulations to compare diversified index funds with risky individual share choices, and showing five-year graphs to see how Fomo-driven trends often crash.
“If you look at a five -year graph of Gamestop or Dogecoin, you can see that they are enriched and then collapsed,” Sam notes. “In the meantime, the S&P 500 continues to climb gradually. It is a turtle and the heat situation.”
Listen to the episode To find out more about how you can connect investment concepts with mathematics and statistics lessons, disprove Dekmythen and prepare students to open their first brokerage account with confidence.
Also view: building credit in the right way with Ryan Germany by Finance Arro
Ryan built Arro to give students and young adults a better way to good credit. Arro is designed for 18-30-year-olds and offers small starting lines, Gamified financial literacy lessons and behavioral Dudges to build strong habits from the first day.
“I wanted to build something else; not just a card, but a platform that teaches people how to use credit responsible,” explains Ryan. “We start people with only $ 50 and raise their line as they touch goals, educational modules and make payments on time.”
Ryan also touches on how Arro weaves in behavioral science to change knowledge into lasting action:
“Education is only 15-20% of the battle,” he says. “Behavioral change is the rest. We use pushes, an AI coach and reinforcement, such as showing credit score in real time, to build healthier habits.”
He shares how users can reach 715+ without a credit score within a few months, and how teachers even use Arro’s lessons with their own children to model good credit behavior.
Listen to the episode here.
Do live this week with us for a discussion about sports gambling
The podcasts of NGPF are produced from the weekly Series Series with Experts. Tonight (September 18) at 4 p.m. PT/ 7 p.m. Losing big: America’s reckless bet on sports gambling. He will investigate how the rapid expansion of legal gambling has reformed American culture, policy and personal finances.
Register here.
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