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Financial Fluency

Editor's Picks for Financial Fluency

What is Inflation

By Penny Redlin

Inflation is essentially the rate at which the general level of prices for goods and services is rising, and subsequently, how purchasing power is falling. Understanding inflation is crucial for everyone because it affects how far our money goes.

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Stacks of coins growing over time to express concept of compound interest

What is Compound Interest and Why It Matters

By Penny Redlin

Compound interest, often referred to as "interest on interest," is the process where the interest earned on your initial principal accumulates and, in turn, earns more interest over time. This concept is a fundamental building block in the world of finance, acting like a snowball rolling downhill, growing larger as it picks up more snow.

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Essential Financial Forms You NEED to Know About

By Penny Redlin

Understanding financial paperwork is a pivotal skill for young adults entering the world of fiscal responsibility. This entails not just the ability to read bank statements or manage credit card bills, but extends to comprehending leases, insurance policies, and investment documents.

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Cost of Living and How to Manage It

By Penny Redlin

The concept of 'cost of living' refers to the total amount of money required to maintain a certain standard of living, covering essential expenses such as housing, food, taxes, and healthcare. Understanding the cost of living is important, particularly for young adults moving out on their own for the first time, as it has a huge impact on budgeting and financial planning.

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Most Popular Articles for Financial Fluency

5 Budget Busters and How to Avoid Them

By Nina Krecicki

Updated on 02/11/2025

Budget busters are essentially expenses that have a way of sneaking up on us, often because they're not regularly occurring or because we underestimate their impact. Recognizing and tackling these budget busters is crucial for maintaining financial health.

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Income Taxes for Beginners a Guide for Young Adults

By Penny Redlin

Updated on 02/11/2025

Understanding income taxes is crucial because they impact virtually every aspect of your financial life. Essentially, income taxes are fees levied by the government on your earnings, both from employment and other sources like investments.

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Using Money to Make Money

By Penny Redlin

Updated on 02/11/2025

At its core, "using money to make money" is a simple concept that can set you on the path to financial success. When you invest your money, it works for you, earning more money in the form of interest, dividends, or increased value.

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Financial Fluency

Income tax is a tax imposed by the government on income earned by individuals and companies. The amount of taxes to be paid is determined by the amount of an individual’s annual income.

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A check that “bounces” is a check that is returned for insufficient funds. If you write a check for $100 but only have $80 in your checking account, you have insufficient funds to cover the amount the check is written for. Some banks will charge over-draft fees when this occurs.

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The two most common types of debt are secured and unsecured. Secured debt is typically backed by collateral (an asset that possesses value). The lender has a lien on the collateral (they can take the asset) as an assurance of some repayment should you fail to make payments.

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FICO® FICO is a particular type of credit score. While there are other brands of credit score, most lenders use the FICO score. A number typically between 300-850 that represents the data present on your credit report.

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A recession is when there is a significant downturn across many different industries that results in negative economic activity.

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An asset is a current, fixed, financial, or intangible resource that possesses value and is owned by an individual or group.

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Financial Fluency

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Financial Fluency

Editor's Picks for Financial Fluency

What is Inflation

What is Compound Interest and Why It Matters

Essential Financial Forms You NEED to Know About

Cost of Living and How to Manage It

Most Popular Articles for Financial Fluency

5 Budget Busters and How to Avoid Them

Income Taxes for Beginners a Guide for Young Adults

Using Money to Make Money

Financial Fluency

Financial Fluency

What is Compound Interest and Why It Matters

Essential Financial Forms You NEED to Know About

Using Money to Make Money

What is Personal Finance

Taking Advantage of The Time Value of Money

Money 101 – Personal Finance for Beginners

What is Currency and Why it Matters

What is Digital Currency

What is Inflation

Taking Advantage of The Time Value of Money

Cost of Living and How to Manage It

What is Income and How to Manage It

Income Taxes for Beginners a Guide for Young Adults

Passive vs Active Income - Why You Want Both

Real World Salary Expectations for Graduates

Balancing Your Budget and Staying On-Track

5 Budget Busters and How to Avoid Them

A Guide to Digital Payment Apps

What are Digital Payments

Pros and Cons of Paying Digitally