Finance In Our Life: What's the Catch?
Laura and I were exchanging notes about recent items we received in the mail. We thought it would be a good exercise in having students figure out "What's the catch?" with these financial offers:
From my mailbox (apologies for the poor photo):
Questions:
- What is this a "special invitation for?"
- Who is hosting the event? What do you think they are selling?
- Why do you think they invite both spouses to attend?
- What are examples of how they are using psychological tactics to get me interested?
- What do you think the "catch" to their investment proposal is?
- Would you attend?
- Regardless of whether you would attend or not, what are two questions that you would want to have answered?
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Here's Laura's "special offer:"
Questions:
- What are the key terms used to "hook" Laura into this special offer?
- What exactly is being offered to Laura in this exclusive Invitation?
- What are three questions you have after reviewing this offer?
- Do you think it is a good offer? Would you take it? Why or why not?
- Why do you think 1,000,000 would take this offer?
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Teach your students to be savvy consumers...check out the NGPF Case Study: What's the Catch?
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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