Know Money, Win Money! Episode 8: Thanksgiving Football

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What’s the first word that comes to your mind when you think of Thanksgiving?

Turkey? Sure, that makes sense. But what comes next?

Pilgrims? OK, fine. So where does “football” rank on that list?

Sixth?! OK, we should have asked a sports fan. And speaking of asking sports fans, that’s exactly what we did! We went to a Chicago Bears game and asked tailgaters some financial questions about football and Thanksgiving. Game on!

Our first question was about the 2017 Super Bowl, and what the average price of a ticket was the week before the game. To the surprise of some tailgaters, it was $4,300. That might seem like a lot for one ticket, and sure, if you were a Patriots fan and had seen them win quite a few Super Bowls, it might be a little rich for your blood. But if you were a Falcons fan, that price might have seemed a little reasonable. After all, this might have been your only chance to see them almost win but instead lose in excruciating and historically awful fashion!

For our next question, we asked what Americans spent over $4,000,000,000 on in the weeks leading up to the 2016 Super Bowl. A lot of the people we asked figured it was chicken wings or beer. And that’s a good guess because Americans do spend hundreds of millions of dollars on each of those things. Still, the only way you could get to four billion is if you had at least a few people straight up spending a million dollars on a thing, and while there are people who could afford to drop a million bucks on chicken wings, they’d probably sooner gamble it. It makes sense then, that the answer is unsanctioned gambling.

Finally, we asked how much Americans spend on turkey in the week leading up to Thanksgiving. As you might expect, it’s a lot! Specifically, it’s $201,000,000. Gobble gobble!

We hope you eat all the turkey and get all the touchdowns this Thanksgiving. See you next time!

Be sure to also check out our most recent episodes:

Where would you like to see us go in future episodes of Know Money, Win Money? We want to hear from you! You can email us or find us on Twitter at @OppLoans.

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Know Money, Win Money! Episode 7: Financial Knowledge

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Here at “Know Money, Win Money” we love to crash all the big events, from sports games to comic conventions. But sometimes we like to go back to our roots and just ask people on the street about personal finance. And that’s exactly what we’ve done! Check it out:

Our first question was about principals. No, not the principal who kept trying to catch you cutting school when you were younger! The principal of a personal loan. That’s the original amount of money you borrow from a lender. Since you’ll almost certainly be paying interest on that principal, you’ll want to make sure your loan is amortized.

What does amortized mean? That was our next question! Amortized payments are spread out over a longer period of time and each payment covers a part of the interest and a part of the principal. That means you won’t have to repay the whole loan in one go, and you won’t get stuck paying interest over and over—without ever actually getting out of debt. (There are debt trap loans like that, by the way. The most well-known and one of the most dangerous is called a “payday loan.” Avoid those like your paycheck depends on it!)

Finally, we asked what the “NSF” in NSF fees stand for. The answer is “non-sufficient funds” and they aren’t fun letters to see. It means you tried to make a withdrawal or cash a check from an account that didn’t have the proper funds. Obviously, you shouldn’t make a withdrawal when you don’t have the funds to cover it, but if someone gives you a check that bounces, you might need to get in touch with them to get the money to cover the fee as well as the original amount they were supposed to give you.

That was fun! Look out for us the next time you’re on the streets. Show us your financial knowledge and you might just win some cash!

Be sure to also check out our most recent episodes:

Where would you like to see us go in future episodes of Know Money, Win Money? We want to hear from you! You can email us or find us on Twitter at @OppLoans.

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Know Money, Win Money! Episode 6: Wizard World, Issue #2

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Surprise! We have another episode of Know Money, Win Money from Wizard World Chicago!  Since so many people were in costumes, we decided to make it our special Halloween Edition!

First, we asked who, according to Forbes, is the wealthiest fictional character. Although we aren’t exactly certain what their methodology was (maybe they asked some fictional accountants), we trust that it was a very rigorous process. Is it Bruce Wayne, with his many gadgets and the original (bat)man cave? Or maybe Tony Stark, with his many gadgets and the original (iron)man tower?

In fact, it’s neither of them! It’s Scrooge McDuck. To be fair, we’ve never once seen Stark or Wayne swimming through a pool of gold coins. And Scrooge is certainly less keen on spending his wealth than nearly any other fictional character, except maybe Scrooge McHuman from A Christmas Carol.

Next, we played another round of everyone’s favorite game that needs a more succinct title: “Can You Guess How Much This Person’s Costume Cost?” We found a guy dressed up as Will Smith’s Deadshot from Suicide Squad. You’ll need to watch the video to find out what his costume actually cost, but it looked amazing and he probably spent less than one percent of what Warner Brothers did.

Finally, we asked what currency the Klingons from Star Trek use. As any intergalactic warrior could tell you, it’s Darseks. We considered giving out Darseks for getting the question right, but apparently, people preferred Earth money.

Hopefully, we helped you get some costume ideas right in time for Halloween, and we’ll be back with a new Know Money, Win Money before you know it!

Be sure to also check out our most recent episodes:

Where would you like to see us go in future episodes of Know Money, Win Money? We want to hear from you! You can email us or find us on Twitter at @OppLoans.

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Know Money, Win Money! Episode Five: Go Cubs Go!

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Take me out to the ballgame, take me out to the … Know Money, Win Money?! That’s right! It’s another episode of our, ahem, “hit” internet game show! We went to the Cubs game right after they clinched the playoffs to see what the fans knew about the financial side of baseball.

Wrigleyville was buzzing with fans getting ready to watch the Cubs play the Cincinnati Reds, hoping for a victory. And their hopes were not in vain because, in just a few hours, the Cubs would be triumphant. But before that, the “knowingest” among them would become the “winningest” by getting cash for answering the following baseball questions correctly.

Our first question was about the largest contract in baseball so far. It was signed by Miami Marlin Giancarlo Stanton in 2014, and a few of the people we interviewed correctly answered that it was worth 325 million dollars. That’s a lot of peanut butter and cracker jacks! If you’re wondering who had the biggest contract before that, it was none other than Alex “A-Rod” Rodriguez, with a measly $275 million dollars.

Next, we asked what the most expensive stadium to attend a game is, snacks and all. Most people thought it was Yankee Stadium, given the New York team’s high rolling reputation, but it’s actually Fenway Park! Yep, the real green monster is cold hard cash! As the oldest baseball stadium in America (and let’s face it, probably the world), your tickets have the tacked on cost of history.

Finally, since we were right outside Wrigley, we asked how much the price of an average ticket to Wrigley Field was during the 2016 World Series. That question ended up getting cut from the video, but we’ll give you the answer anyway: $3,000 dollars. But can you really put a price on seeing a Cub Series win?

Yes, and it’s $3,000 dollars.

We hope you enjoyed this batty edition of Know Money, Win Money. We’ll be looking out for you next time!

Be sure to also check out our most recent episodes:

Where would you like to see us go in future episodes of Know Money, Win Money? We want to hear from you! You can email us or find us on Twitter at @OppLoans.

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Know Money, Win Money! Episode Four: Wizard World

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Excelsior! Are you ready for the newest issue of Know Money, Win Money? We went to Wizard World Comic Con in Chicago (Okay, Rosemont) to ask people questions about sci-fi and fantasy, and then give them some Darseks… er… dollars… if they got them right. Check it out:

We started out by asking what is the most expensive fantasy film franchise?

Was it…

A. Lord of the Rings

B. Pirates of the Caribbean

C. Harry Potter

One might assume it’s Lord of the Rings, with its long run times and expansive magical landscapes. Or maybe Harry Potter, with its eight movies and expansive magical landscapes. But it’s actually Pirates of the Caribbean! Even though it has fewer films than Harry Potter (as of this writing, though, they seem to release a new one every other hour) those big stars come with a hefty price tag.

Our second question focused on the most famous and valuable comic books ever: Action Comics Number One, the debut of Superman. Specifically, we asked people how much an issue of the iconic comic last sold for.

Was it…

A. $540,000

B. $3.2 million

C. $5.6 million

The answer? 3.2 million dollars. Just be sure not to store it next to your kryptonite, or it’ll lose all of its value.

Next,  we took a break from the usual questions to find a cosplayer and ask him how much his Deadpool costume cost to make. Once we found out, we took him around to see who could guess right. (We gave the winner cash; Deadpool got a chimichanga!)

Finally, we asked which spacecraft, according to a British energy company, would cost multiple octillions of dollars to power for just a day.

Was it…

A. The Justice League Satellite

B. The Death Star

C. The Starship Enterprise 

C’mon, what else could it be but the Death Star? That’s pretty expensive, but at least it’ll never be blown up!

We’ve got another Wizard World episode in the pipeline, as well as other fun episodes to come. Look out for us on the street and you might just win some cash!

Be sure to also check out our previous episodes:

Where would you like to see us go in future episodes of Know Money, Win Money? Let us know! You can email us or find us on Twitter at @OppLoans.

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Know Money, Win Money! Three: Finance and Education

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We know you demand more episodes of our hit game show series, Know Money, Win Money, and your concerns have not gone unheard!

We’ve got another episode of Know Money, Win Money about the financial aspects of education—right on-time for back to school:

We stopped by a local farmer’s market to see what the produce-seekers knew about the money aspect of schooling.

Our first question was about how much elementary school teachers spend out-of-pocket on supplies for their students.

Yes, you read that right. Teachers normally have to spend their own money to help buy school supplies for their students. Time Magazine found that the average school teacher spends around $500 of their own money on supplies for their students.

But that’s only the average. NPR interviewed one third grade teacher who spent over $2,000 of her $35,000 salary on school supplies for her students. So consider calling up your old teacher and telling them thanks! Maybe send them a gift card.

Next, we asked about how much tuition prices have increased since the seventies. Spoiler Alert: it’s a lot. And according to the Bureau of Labor Statistics, it’s grown much faster than the cost of other goods. As we noted in the video, it’s been a 1,200% increase over the last 40 years. It’s no wonder student debt has reached “crisis” levels.

Finally, we asked a question about how students have to spend their money. Specifically, what do college students spend an average of $600 on in one school year? Although students probably spend a bunch of money on coffee and alcohol, the answer in this particular case was: textbooks.

Need a guide on consolidating your student loans? Well, we have one for you right here in our OppLoans Guide to Consolidating Student Loan Debt!

We’ll have the next Know Money, Win Money episode ready for you in two weeks. Hopefully, we run into you out there and have the chance to give you cash!

Be sure to also check out our previous episodes:

What are some financial topics that you’d like us to cover in future episodes of Know Money, Win Money? We want to hear from you! You can email us or  find us on Twitter at @OppLoans.

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Know Money, Win Money! Episode Two: Payday Loans

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Hello, money fans! It’s time for the newest episode of Know Money, Win Money!

We quizzed people about payday loans and gave them money when they got it right. Hopefully they didn’t have to spend that money paying off a payday loan, but if they did, then fingers crossed that was the last bit they needed to pay it off!

You can watch the episode below:

The first question we asked was about the average payment term for a payday loan. That is, how long you have to pay back the full loan amount with all fees and interest included. The answer? Only two weeks. Which means a lot of people are forced to…

Rollover their loan. We asked people what that means, and some of them knew! In case you don’t know, it means that you pay to extend the loan, which can be the start of a vicious cycle of debt. You can learn more about Payday Loan Rollover (an its many, many dangers) here in our blog.

Next we told people that payday loans have an average of 400% APR and asked what APR stands for. It’s Annual Percentage Rate, and it’s a number that describes the full cost of a loan including all interest and fees. That lets you compare different loans in an “apples to apples” fashion to figure out which one makes the most sense for your needs.

Finally, we asked how installment loans are different from payday loans. As the name suggests, installment loans allow you to pay off the loan over time, in installments, so you can manage your finances without falling behind.

All right, now that you know about payday loans, don’t go get one! But do get money when you run into us the next time we’re on the street playing Know Money, Win Money!

Be sure to also check out our previous Know Money, Win Money blog and episode about credit.

What are some financial topics that you’d like us to cover in future episodes of Know Money, Win Money? We want to hear from you! You can email us by clicking here or you can find us on Twitter at @OppLoans.

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Know Money, Win Money! Episode One: Credit

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We here at the OppLoans Financial Sense Blog want to make sure you have more money in your pockets by any means necessary. Normally that means giving you advice about saving money, but starting today, it also means running around on the street and asking you (or people like you) questions about money, and then giving you money if you get them right.

It’s called Know Money, Win Money, and it’s our hot new game show. The first episode is all about credit, and you can check it out right here:

The first question we asked was pretty simple: What’s the definition of a credit score?

Even though most people have some sense of why their credit score is important, they may not totally realize what it is. Simply put, it’s a measure of your “credit-worthiness,” or how good you are at taking on debt and paying it back. Your credit score determines what kind of interest rate you’ll get on your loans, or if you can qualify for a loan at all.

Our next question asked was what would be considered a “good credit score.”  If you’re wondering, it’s 680 to 719. Anything more than that and you’re golden but anything less than that… well, your interest rates aren’t going to be so hot. Or they’ll be too hot. The point is you’ll have high interest rates.

Finally, Most people are aware of the FICO company that creates the most common type of credit score. But we wondered if people knew what the company’s name actually stands for? For the most part, they did not. And we can’t blame them. Few people do! If you’re wondering, it stands for Fair, Isaac, and Company.

So we got to give away money, and teach people about credit. Hopefully next time we’ll run into you!

What financial topics would you like us to cover in future episodes of Know Money, Win Money? Let us know! You can email us by clicking here or you can find us on Twitter at @OppLoans.