When I saw this press release from Longwood University (from Professor Waller), I found myself nodding my head while also thinking about activities/projects/blog posts that we have in our arsenal to address each of these challenging concepts for teens. Here are the five shocks and resources we have developed to turn your students’ shock on a given topic into knowledge and behavioral change.

• Shock #1: Impact of student debt lasts far longer than expected
  • NGPF Activity: Analyze Student Loan Decision-Making
  • NGPF Activity: How Much Should I Borrow For College?
  • NGPF Blog post: Student Loan Repayment activity

• Shock #2: Paying your bills on time isn’t enough to get a good credit score
  • NGPF Blog post (article): Building credit history while you are young
  • NGPF Activity: Calculating Credit Scores Using A FICO Simulator
  • NGPF Video Library: Understanding How FICO Credit Score Is Determined

• Shock #3: Making minimum payments on credit cards can really cost you
  • NGPF Video Library (and the best 3 minute video that I have ever seen to explain this concept): Credit Card Debt Explained With a Glass of Water
  • NGPF Spreadsheet Activity: Build a Credit Card Calculator

• Shock #4: A high credit score is about more than a good loan rate
  • NGPF Video Library: Consequences of Bad Credit

• Shock #5: Monthly payments are only part of the picture when getting a loan
  • NGPF Activity: Select The Right Auto Financing
  • NGPF Activity: Compare Auto Loans
  • NGPF Video Library: How To Get the Best Auto Loan

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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