Personal Finance Institute

A New York Fed report shows consumers are getting pretty good at accumulating debt.

When you’re shopping around for car insurance quotes, you may get lots of opinions on what company to use and what coverage to get. Comparing quotes from several different insurers is one of the best ways to save money. And it’s not a process that takes hours. With a minimal time investment, you

How much of your income will you spend on car insurance this year? Bankrate investigates.

A lot of people are always invested in the Kentucky Derby for gambling reasons. But this year, nearly 400 people were cheering on Mage to win. The horse, which entered the race with 15-1 odds to win Saturday, ended up taking the Run for the Roses with Javier Castellano riding. Outside of Castellano and trainer Gustavo Delgado, however, 391 sharehol...

"So then the question is, How much time am I willing to give up to save $2?"

As more states add financial education to public high school curricula, there's no guarantee schools will offer a dedicated course or students will take it.

For a thrifty shopper, a “Buy one, get one” (BOGO) deal can sound like the best way to get more bang for their buck. But the appeal of BOGO is why it’s hard ...

Borrowing money is just a few taps away on an iPhone. What could go wrong?

It’s been a busy week. Dr. Brown and representatives from Auto-Owners Insurance visited the top four performing classrooms in the 2023 Ferris State/Auto-Owners Insurance Challenge. We shared …

The global bond market stands at $133 trillion in value. Here are the major players in bond markets worldwide.

The final week of Financial Literacy Month is coming up. Here are 15 cool activity ideas that teachers shared during our recent Financial Literacy Month workshops! Teachers everywhere have been celebrating Financial Literacy Month with NGPF! In addition to NGPF's series of Financial Literacy Month resources, events, and giveaways, we facilitated two vibrant community workshops in which teachers shared their own unique plans for Financial Literacy Month.

A New Orleans pizza spot in Uptown New Orleans is offering free pizza for a year in exchange for Taylor Swift concert tickets.

The 2022 Diary of Consumer Payment Choice finds that the COVID-19 pandemic has continued to affect the way U.S. consumers use and hold cash. The share of payments made in cash dropped sharply from 2019 to 2020 and then increased slightly in 2021, implying that cash use hit its lowest point in the first pandemic year. In contrast to cash use, consumers’ cash holdings remained elevated in 2021 when compared to 2019 and prior years, indicating that consumers continued to demand cash in the uncertain environment of the pandemic’s second year. These are some of the prominent findings from the most recent consumer survey conducted by Federal Reserve Financial Services.

Although Tesla drivers may not change their driving habits at night, this may not be the case for other drivers sharing the road.

Higher rates, quantitative tightening and $7 trillion in uninsured deposits have been pressuring vulnerable banks, JPMorgan said.

Lawmakers weigh a bump to the FDIC deposit insurance limit.

ABLE accounts offer much more than just a tax break.

How have investment returns for different portfolio allocations of stocks and bonds compared over the last 90 years?

Worksheet – Banking Related videos: The SVB collapse explained by an economist. Silicon Valley Bank failure (YouTube, Economics with Dr. A, March 11, 2023, 2:51 min.) and What is a bank run? (CNN, March, 2023, 1:59 min.) Summary: This worksheet could be used for in-class or homework practice. Stu...

From ski resort to last resort… Earlier this month Silicon Valley Bank hosted a “snow summit” for tech CFOs at the Deer Valley ski resort in...

Deposit insurance is as American as apple pie, and twice as unhealthy. John Foley makes the case for lowering the $250,000 U.S. limit, which he says could be less cruel than it sounds.

Deposit insurance is as American as apple pie, and twice as unhealthy. John Foley makes the case for lowering the $250,000 U.S. limit, which he says could be less cruel than it sounds.

This graphic charts over 560 U.S. bank failures since 2001, including the two most recent additions: Silicon Valley Bank and Silvergate.

Banking regulators at the Federal Deposit Insurance Corporation, Federal Reserve and Treasury Department swooped in to save depositors.

In a world where people buy funds that are tied to indexes, the people who determine what go into those indexes have become very powerful indeed.

More details have come out on what was going on late last week and over the weekend with Silicon Valley Bank (SVB) and the DC officials dealing with the fallout.  And as more information comes to light, we can more thoughtfully reflect on who might be to blame.  We also look at all of the investigations that have been announced as a result to hold the appropriate people accountable and address flaws in regulation/supervision.  Finally, we take a look at the other banks swept up in the frenzy.     The Feds to the Rescue   SVB’s situation was not news to the Federal Reserve last week. They had reportedly been concerned about the drop in value of the bank’s portfolio as interest rates increased. The FDIC was concerned about the customer base being so concentrated in the venture capital/tech start-up space. Both organizations were deeply into the situation Thursday.

It's only about 60 times higher than the average interest rates on savings accounts!  Answer: 20.4% Questions:  What has been the trend over the past two years with interest rates on credit cards? Does 20% seem high, low or just about right when it comes to paying interest on credit card debt? What is one strategy that you can use to avoid having credit card debt? Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

“Are you curious about how much money the FDIC holds in its Deposit Insurance Fund (DIF)? At the end of 2022, it had a balance of $128 billion. That's 1.27x the amount of insured deposits across the country.”