Tag Archives: Present

Groundbreaking Global Study First to Reveal That Whether a Person Focuses on the Past, Present or Future Is a Leading Predictor of Their Financial Health

New York, NY (PRWEB) July 18, 2014

A groundbreaking new study reveals why some people make poor financial decisions while others make sound ones. Among its compelling findings: a person’s time personality – meaning whether they are stuck in the past, living hedonistically in the present or focused solely on the future – is a better predictor of financial health than their mathematical ability or financial acumen.

This first in-depth psychological study of its kind was undertaken by Philip Zimbardo, professor emeritus of psychology at Stanford University, author of more than 50 books including The Time Paradox and creator of the Zimbardo Time Perspective Inventory (ZTPI). The six-nation, 3,000-adult study was carried out in partnership with MagnifyMoney (http://www.MagnifyMoney.com), which offers consumers a simple, unbiased way to comparison-shop for financial products.

Concurrent with the study’s release, MagnifyMoney launched a new quiz that helps consumers determine their time personality and offers tools for making more savvy financial decisions.

The study looks at three major time personality categories: past-oriented, present-oriented and future-oriented.

Past-oriented:

    “Once bitten twice shy“– For example, someone who has lost money in the stock market in the past, may be more conservative – thus limiting their downside — but often misses out on potential gains.
    “Memory Hoarders” — This group of people have fond memories of the past, but tend to get stuck there – meaning they might stay with their bank or credit card out of loyalty and not get the best deal.

Present-oriented:

    “Hedonists” – This group likes to enjoy life impulsively without thinking about tomorrow and is more likely to be financially sick. They tend to buy now and think later, with no thought of future consequences – or their credit card bill.
    “Powerless”– People who feel stuck in the present are also likely to be financially sick – they tend to believe things that happen in life are out of their control, and don’t feel empowered to change their financial situation and get more out of their banks.

Future-oriented:

    “Future Trippers” — This group is singularly focused on planning for the future and are likely to make financial decisions – such as buying a house, saving or investing – because they know it’s the right thing to do. However, this group doesn’t always achieve a higher degree of financial health because they seek out advice that might not always be prudent.

“Time personality, or perspective, drives decision making in many realms – from deciding what to eat to choosing who to marry. With this study, we show clearly that it can have a profound effect on a person’s overall financial health,” says Philip Zimbardo. “The study is informative – even surprising – but what makes it truly useful to consumers are the online tools MagnifyMoney has developed to help people assess their time personality and, ultimately, make better financial choices.”

Other intriguing study findings include:

    Millennials are much less likely to rate themselves as financially literate, when compared to baby-boomers. However, more millennials have demonstrated financial health than baby-boomers.
    Of the six countries studied, the UK ranked as the most financially healthy. Meanwhile, Brazil and Italy had the highest level of present-hedonism and lower financial literacy.
    The study did not find a significant difference between males and females.

NOTE: For more information on the study results, visit http://www.magnifymoney.com.

Traditionally, the focus has been on teaching financial literacy and math skills in order to improve financial health. We believe that financial literacy is important. However, our study results show that understanding one’s time perspective is an important new factor and should be integral to literacy training,” according to Nick Clements, co-founder of MagnifyMoney. “With our time perspective quiz, we are now able to help consumers make better financial decisions that can save them thousands of dollars.”

About Professor Philip Zimbardo

Born March 23, 1933, Professor Zimbardo is a psychologist and professor emeritus at Stanford University. He is best known for his controversial Stanford Prison Experiment in 1971 that highlighted the ease with which ordinary intelligent college students were able to cross the line between good and evil when caught up in the matrix of situational and systemic forces. He has authored introductory psychology books, textbooks for college students, and other notable works, including The Lucifer Effect, The Time Paradox and the The Time Cure. He developed the Zimbardo Time Perspective Inventory (ZTPI) – integral to this latest study as well as Zimbardo’s past work.

About MagnifyMoney

MagnifyMoney was founded in 2014 by Nick Clements and Brian Karimzad, who have a combined nearly 30 years experience working in banking, including Barclaycard and Citigroup. MagnifyMoney is a powerful free resource because its personalized side-by-side comparisons of banking and credit union products are free, unbiased and easy to navigate. With the proprietary Magnify Transparency Score, banking and credit card products are rated on their simplicity, making it easy for consumers to quickly evaluate which products have the least amount of fine print. MagnifyMoney is headquartered in New York, NY.

For more media information, contact:

Lisa Hendrickson, Commstrat

516-767-8390

lisa(at)commstrat(dot)com







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El Paso (TX) Administrators to Present Session on Career and College Readiness Efforts to Meet Post-Secondary Realities, at Model School Conference


Kingston, TN (PRWEB) June 12, 2014

Bob Dylan’s lyrics, “The times, they are a-changin’,” have never been more relevant as educators face new mandates for preparing students for the future. School administrators must ensure their high school graduates are both college and career ready. The importance of this demands that schools enhance their curriculum offerings to help student develop the essential academic and soft skills.

On June 23, Dr. Royce Avery, chief school officer, Area 2 for El Paso Independent School District (EPISD) will present two workshops at the 2014 Model School Conference to be held in Orlando, FL. Dr. Avery — joined by EPISD’s Eric Winkelman, career and technical education director and Matthew Farley, principal at the Center of Career and Technology Education — will share the district’s successes as they continue to develop six-year strategies using a College and Career Readiness Planner with a Personal Graduation Plan. The sessions are scheduled for 10:15 AM in room Asia 5 and again at 3:45 PM in rooms Southern 4-5. This year’s conference will be held in Orlando, Florida.

“District and school leaders looking for ways to transform their current career and college readiness ‘standards’ will learn a great deal by attending this session,” said Dr. Royce Avery. “Our academic and integrated technical learning model combines career focused programs of study along with a portion of the award-winning e-learning platform from WIN Learning with ‘added values’ from our team and local community businesses such as internships, industry certifications, and dual credit courses. We have successfully made classwork relevant to students whether they elect college, workplace, military or certification training programs.”

The Personalized Career Readiness System from WIN Learning encompasses four main modules – two of which, Strategic Compass and Soft Skills are being piloted in the EPISD. The modules include:

o Strategic Compass – offers a personalized career-planning tool for each learner based on skill, work and career interest, and then provides a framework for the education and path to succeed.

o College Readiness Courseware – For students looking to continue on to college, this courseware prepares learners with the necessary foundational skills in Pre-Algebra, Algebra, Geometry, Reading, Writing and English. Subjects include practice and application of concepts addressed by commonly accepted college placement exams.

o Career Readiness Courseware – Nine career-focused modules prepare learners for career readiness certification. Topics include Reading for Information, Applied Mathematics, Locating Information, Listening, Observation, Applied Technology, and Business Writing, among others.

o Soft Skills – Professional attitudes, work habits and other key competencies are critical to success in college and the work place. Soft Skills teaches employability and social skills including conveying professionalism, communicating effectively, promoting teamwork and collaboration, thinking critically, and problem solving.

Avery added, “Career readiness must go hand-in-hand with academic standards, and both must meaningfully prepare students for productive lives. This needs to be a priority for school administrators if they are going to successfully prepare students for life after high school. We are anxious to share how El Paso CCTE incorporates Soft Skills as a critical element to success in a career and technology classroom, which will result greater success in 21st Century workplaces.”

About Dr. Royce Avery

A life-long educator with classroom, building and district level experience in the Woodsboro, Lubbock, and Waco Independent School Districts, as well as the Texas Education Agency, Dr. Avery was superintendent of the Aransas Pass Independent School District prior to joining EPISD. He received his undergraduate degree from Rice University, and holds a Master’s degree in educational leadership and administration from Texas A&M. Dr. Avery earned his Ed.D. in educational administration and supervision from the University of Texas at Austin.

About WIN Learning

Since 1996, WIN has become the leading provider of career readiness solutions to help districts prepare pathways for students’ futures, whether they are college, trade school, military or workplace bound. To date, more than 10 million students worldwide have participated in the specialized career-driven courseware and education intervention initiatives as well as career-readiness certification programs. For more information, go to http://www.winlearning.com or call 888-717-9461.







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