Next Gen Personal Finance

Jim Wasserman shares his journey from law to teaching economics and media literacy. Initially drawn to teaching to prevent problems rather than just solving them, Wasserman discusses his approach to making economics relatable to students, moving beyond traditional textbook examples. He delves into his experience in consumer economics, highlighting the importance of decision-making skills in both financial and digital realms. Jim, along with his wife, a retired banker, authored a three-book series aimed at different educational levels, focusing on the 'rules of the game' in consumer economics and media literacy. The discussion also explores the challenges of navigating the online world, especially for younger generations, emphasizing the need for educators to stay updated with internet trends. Jim stresses the importance of teaching self-reflection, awareness of online manipulation, and personal responsibility in the digital age, reflecting on the impact of curated online lives on self-image and choices. 

John Pelletier, Director of the Center for Financial Literacy at Champlain College, delves into the current state of financial education in the United States, centering on Pelletier's recent research report that evaluates states based on their personal finance education policies. The discussion underscores the positive strides made by several states, with seven now earning an A grade, while highlighting the potential underestimation of progress as more states are in the process of implementing favorable laws. The bipartisan support for financial education, reflected in overwhelming approval of related bills, is noted, with Pelletier attributing accelerated legislation post-COVID to lawmakers recognizing constituents' financial struggles.The conversation also covers the economic benefits of financial literacy, ongoing initiatives to improve education in various states, and the influence of Pelletier's annual report on shaping state policies.

In this podcast episode, Daniel Hiebert, Associate Professor of Financial Planning at Minnesota State University, and his student Aidan Ryan discuss core financial planning principles, effective teaching strategies, and Aidan's unique perspective. Both share personal money memories, emphasizing experiences with savings accounts and challenges tied to family finances. Daniel underscores the experiential education focus in their CFP Board-certified program, aiming to graduate well-rounded candidates. The dialogue delves into the evolving financial planning landscape, discussing collaborative client-planner relationships and concluding with insights into the fiduciary standard and the importance of trust in client-advisor relationships.

Priscilla Guerra of Impact Early College High School (Baytown, TX) and Yra Climaco of Castiac High School (Castiac, CA) joins us on the NGPF Podcast as the National Grand Prize Winners of the 2023 Payback Challenge. Both winners discuss their lessons from playing Payback, emphasizing the importance of education, work-life balance, and financial consciousness in college. Tune in for an inspiring conversation with these exceptional students!

Rachel Labi, a student at Purdue University, entrepreneur, and Co-Founder of Building Financial Freedom, shares her journey through personal finance education, internships, and social entrepreneurship.

Caleb Silver, the editor-in-chief of Investopedia, leads the platform's adoption of a user-centric pull strategy, catering to 18 to 22 million monthly users actively seeking financial information. The platform houses a vast collection of continually updated content, with a focus on serving students and individuals with specific financial queries. Silver highlights the uniqueness of each user's search, emphasizing the platform's role in delivering an educational narrative about the world of money. Investopedia maintains around 40,000 articles and definitions, prioritizing content updates and the creation of new material. Silver discusses the current popularity of search terms, including bank failures, bonds, and discussions around the American dream, reflecting user sentiments. The conversation concludes with insights into Investopedia's widely used stock market simulator, a valuable tool for investment education.

Professor Hal Hershfield from UCLA's Anderson School of Management discusses key concepts from his book, "Your Future Self: How to Make Tomorrow Better Today." First, he recommends a departure from traditional goal-setting and the use of proxies. Instead, his primary focus is on narrowing the gap between our present and future selves, emphasizing health choices, prudent financial decisions for retirement, and commitment to financial and fitness goals. Hershfield addresses the challenge of forming an emotional connection with one's future self, proposing practical exercises like writing letters and using technology to evoke a vivid future self. He also introduces practical tools like commitment devices for better financial decision-making. Overall, Professor Hal Hershfield recommends reframing the way financial education is taught.

Today on the show, Yanley is joined by Greg Ratliff, a Vice President at the Rockefeller Philanthropy Advisor's New York Office with a main role of advising investors on portfolios to generate both social and financial returns. Working in the field of philanthropy for the last 35 years, he joins us on the show to talk about his passion for developing and executing coordinated grant and investment strategies that improve livelihoods for low-income and disadvantaged populations. Listen to this podcast to hear invaluable insights on how to pursue a career in philanthropy.

James Redelsheimer and Derek D'Angelo from the Foundation for Economic Education discuss their passion for and background in financial literacy as well as AI's role in teaching. Both educators turned curriculum developers begin by sharing their experiences advocating for personal finance education legislation in their respective states. They then emphasize the power of AI tools, particularly ChatGPT, in enhancing teaching efficiency. The educators showcase creative uses, like role-playing scenarios with historical figures or economists and aiding students in analyzing data or creating arguments. Despite the benefits, they also acknowledge the importance of carefully crafting prompts and remaining vigilant about potential inaccuracies in AI-generated content.

Cara Macksoud, the CEO of Money Habitudes, transitioned from being an ETF trader on Wall Street to becoming a passionate advocate for financial education. Her journey began when she worked with unbanked youth and discovered their mistrust of financial institutions, sparking her interest in financial literacy. Teaching these individuals the importance of banking and overcoming their resistance served as a valuable foundation for her work. Cara later acquired the Money Habitudes tool, aimed at uncovering financial behavior patterns and beliefs. Her journey highlights the significance of accessible and relatable financial education for people of all backgrounds and financial situations.

In this podcast episode, Crystina Cardozo, an educator and real estate investor, shares her journey into real estate investing and offers valuable insights into the world of short-term rentals. She discusses her experiences buying properties in the Poconos and expanding into other areas, highlighting the importance of developing systems and networking with other investors. Crystina also emphasizes the need to create an open dialogue about money, both with students and her own children, to foster financial literacy. 

Chris Corinthian's framework for minimizing student loan debt involves using tools like the Common App, College Board Scholarship Search, Scholly, and Google to discover scholarships tailored to one's interests and deadlines. He suggests students take advantage of local resources, such as alumni associations, to find scholarships that are often less competitive for local applicants. Chris also emphasizes the importance of continuously applying for scholarships throughout college, not just in high school, to maintain financial support and minimize the need for loans.

This podcast features Ted Daniels, a former U.S. Department of Housing and Urban Development employee, who left his career to establish a nonprofit focused on financial education. His journey began with educating friends and family and expanded to colleges, where he observed improved student retention and graduation rates. Ted also touches on the Ambassador Program, which empowers college students to teach financial literacy, fostering a ripple effect of life skills improvement.

This week we are joined by Chris Temple and Zach Ingrasci, the co-directors of "This Is Not Financial Advice," to discuss their journey from accidental filmmakers to financial education advocates. Listen to this episode to learn their approach to spreading financial literacy, the challenges they faced in making the film, and the impact it has had on audiences.

Nick Magiulli, author of the book "Just Keep Buying" and founder of the Of Dollars and Data blog, shares his insights on personal finance, investing, and the future of financial technology. You will hear Nick's advice on building wealth over the long-term, the importance of investing early and often, and his thoughts on the latest trends in personal finance.

Anthony Davenport, a credit expert and founder of Regal Credit Management, shares his insights on credit repair, mortgages, and more. Listen to this week’s podcast to learn how to build and maintain strong credit scores and how to leverage credit to achieve financial freedom.

Are your students curious about how they can become financially independent? How can you make personal finance more culturally relevant? Listen to this week’s podcast to hear how Julien and Kiersten speak about their experience with money and how they found a platform with the mission of inspiring better conversations about money

Former Minnesota Twins player Kevin Thompson joins us to talk about his experience as a profession baseball player and his career as the CEO and President of 9i Capital Group.

Nia Adams comes on the show to talk about her experience as an entrepreneur, sharing the details of her personal journey in the field and what led her to it in the first place.

In case you missed it: Amanda Volz was the first teacher to ever create an NGPF Teacher Account! For years she has used NGPF curriculum, given feedback to the NGPF team, and even joined the NGPF team! Who better to share the top ways to prepare for a new school year of financial education with all new students?