Each fall, the NGPF Payback Challenge provides students across the country with the opportunity to earn college scholarships with $50,000 awarded. This week, you will hear from our two National Winners, Alexandra Hovdestad of Lenape High School (Medford, NJ) and Andrew Tomlinson of Mora High School. They will share what they learned from the NGPF Arcade game, Payback, and how it has influenced their college plans in the future. In our Current Events section, Yanely discusses a financing product, Buy Now, Pay Later and in Office Hours, Tim takes a question about no-fee index funds. Enjoy!

Details:

• 0:00~0:25 Introduction
• 0:25~8:38 Current Events with MissBeHelpful: Buy Now, Pay Later
• 8:38~10:17 Introducing Today’s Guests: 2020 Payback Challenge National Winners 
• 10:17~18:32 Alexandra Hovdestad
  • 10:17~11:27 Alexandra’s background and the school she attends
  • 11:27~12:14 Experience learning in the hybrid model
  • 12:14~15:10 On playing Payback
  • 15:10~15:52 Learning about credit during her personal finance class
  • 15:52~18:32 Writing a poem for her submission
• 18:32~19:00 A word from NGPF
• 19:00~25:36 Andrew Tomlinson
  • 19:00~20:44 Andrews’s background and the school he attends
  • 20:44~22:18 On playing Payback
  • 22:18~23:47 Experience taking a personal finance elective
  • 22:18~25:36 Planning and recording the video submission
• 25:36~29:53 Office Hours: Is there a catch to no-fee index funds? 
• 29:53~31:03 Conclusion

Notable Quotes:

• “Definitely the dinner one [was most memorable], with going out with friends every Friday because I know I chose the once a month option. Sometimes what’s best for you financially isn’t the best for you socially and it’s weird trying to balance that.” -Alexandra

•  “My first thought [playing Payback] was, I probably know what I’m doing. So I was clicking through options and I was thinking pretty thoroughly. But despite my thorough thinking the first time I played, halfway through the second year, my social life and happiness had gone to zero and so I was like, wow I don’t know what I’m doing” -Andrew

Resources:

• FinCapFriday: Buy Now, Pay Later
• Time for Payback
• Winners of 4th Annual PAYBACK Challenge Scholarship
• Fine Print: Index Fund Fact Sheet
• Fine Print: Bond Fund Fact Sheet