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Student Loans
Old College Try
A student loan can be any kind of borrowed money that’s used to pay for education. Although the name might imply that the loans are only provided to students themselves, parents may also take out loans to help pay for their kids’ education.
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Balance Transfers
Shell Game
Balance transfers are a way to move what you owe on one (or more) credit cards and...
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Credit Report
Good Marks
Your credit report is a detailed history of your past use of credit. It’s a bit like...
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How to Save More Money
Keep the Change
Like many good habits, saving more money is easier said than done. Once you’ve gotten into a...
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Getting Out of Credit Card Debt
Pay the Piper
Credit card debt can be overwhelming. As interest accrues, your balances may keep increasing even if you’re...
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FICO vs. VantageScore
Settle the Score
FICO and VantageScore are two of the most common credit scoring models. Contrary to popular belief, you...
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HMO vs. PPO
Bill of Health
HMOs and PPOs are two different types of health insurance plans. HMO (or Health Maintenance Organization) plans...
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Sticking to a Budget
In It to Win It
Budgeting can be a lot like dieting. You start out with big hopes for dramatic changes in...
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Paying Off Student Loans
Take a Load Off
It might seem like there’s only one way to pay down your student loans (namely: slowly, painfully,...
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Filing for Unemployment
Pink Slip
Unemployment insurance is a government program that gives you money if you lose your job. Sometimes, life...
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Credit
Permanent Record
Credit is, simply put, your financial reputation. Your credit history describes your record as a borrower, including...
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Paying Down Debt
Get Low
Paying down debt can make you more financially secure and give you more flexibility when deciding what...
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Target-Date Funds
Bullseye on Retirement
A target-date fund is an investment fund that’s based on your expected retirement date. These mutual funds...
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Roth IRAs
Road to Retirement
A Roth IRA, or Individual Retirement Account, is one of the most common types of retirement savings...
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Income Taxes
Pay the Piper
Personal income tax is money the government collects from people based on how much they earned or...
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Emergency Fund
Cash Cushion
An emergency fund is your stash of just-in-case money. Along with your insurance coverage, it’s a vital...
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Hard vs. Soft Credit Inquiries
Extra Credit
Banks, lenders, and others use your credit report and scores to determine your creditworthiness. In other words,...
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E-Filing
Signed, Sealed, Delivered
E-filing means filing your taxes online. You’ll still need all the same documents you’d use to file...
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IRA vs. 401(k)
Nest Eggs
IRAs and 401(k)s are two popular types of retirement savings accounts. Most people who work in the...
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Budget
Nickels and Dimes
A budget is a plan you can use to better manage your spending and saving. When you...
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Debt
It All Adds Up
Debt is money that you owe to another person or a financial institution. When you borrow money,...
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Credit Cards
Swipe Right
A credit card lets you buy now and pay later, all without the hassle of counting out...
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Banks
Bank on It
Banks are institutions that take deposits, cash checks, and make loans. They are essentially home bases for...
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Savings
One Penny at a Time
Savings are funds that you put aside and don’t spend. Life can be full of surprises, both...
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Interest
Pay Up
Interest is the cost of borrowing money. For a borrower, interest is the price of taking on...
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APR
Another Day, Another Dollar
An annual percentage rate (APR) represents the annual cost of borrowing money, including fees. Because the APR...
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FICO
Score Some Points
Although you might hear the phrase “your credit score” tossed around, you actually have multiple credit scores—potentially...
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Car Insurance
Tighten Your (Seat) Belt
Car insurance is an agreement between you and an insurance provider. In exchange for regular payments from...
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Prepaid Card
Top Off
A prepaid card lets you spend money that you’ve already added to the card. It’s similar to...
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Deductibles
Cut Rate
A deductible is the amount of money you must spend out of pocket before your insurance company...
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Tax Refunds
Check’s in the Mail
If you pay more than your fair share in taxes over the course of a year, you’re...
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Improving Credit
Extra Credit
Your credit report and credit scores describe whether you have a good track record of repaying borrowed...
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Mutual Funds
Join Forces
A mutual fund is a professionally managed fund that pools lots of investors’ money in order to...
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Interest Rate
At Any Rate
Interest is what a lender charges you to borrow money. It is usually expressed as a percentage...
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Bonds
Bonds, James Bonds
Bonds are essentially IOUs. When you buy a bond, you become a lender to whatever entity issued...
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Tax Withholding
To Have and Withhold
Tax withholding is money your employer takes out of your paycheck each pay period. Your employer then...
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Building Credit
Bit by Bit
Credit is money that’s available to you to borrow whether through a credit card, mortgage, car loan,...
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Buy vs. Lease a Car
Joy Ride
When you need a car, you have two options: buy or lease. If you buy a car,...
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The Stock Market
Greed Is Good
The stock market is the collection of physical and electronic markets where buyers and sellers come together...
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1099 vs. W-2 Employee
Bring Home the Bacon
1099s and W-2s are both types of tax forms. If you’re a contractor, you should receive one...
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Form W-2
Company Man
The W-2 is a tax form your employer must complete at the start of each year to...
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Insurance
Cover Your Assets
Insurance is financial protection. Along with your emergency fund, insurance makes up your safety net so that...
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Tax Returns
Not-So-Happy Returns
Most people pay taxes throughout the year. When you file a tax return, you calculate how much...
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Stocks
Buy Buy Buy
Stocks are pieces of ownership in companies. If you bought one stock of, say, Amazon, and Amazon...
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