Learn about the US income tax system and figure out how your taxes are calculated. Income taxes are based on how much money we earn at our job(s) and are usually taken out of our pay before we receive it. In other words, most income tax is collected directly from our employer, so it isContinue reading “How much income tax do I pay?”
Author Archives: Welcome Financial Ed
Personal Finance in Schools
Check out this piece in Business Insider from our creator, Rebecca Shoval.
Can They Afford That – these Videos Explained
Looking for Financial Realism in Media TV shows and movies should do a better job of portraying people living within the realistic means of their income or wealth level. Television and movies create expectations for viewerson how they should be able to live their own lives. As a real estate investor and personal finance educator,Continue reading “Can They Afford That – these Videos Explained”
Recession Explained
How can you protect yourself if there’s a recession? The economy goes through different cycles and sometime enters a bad time, often called a recession. I personally graduated college at the start of the last major recession, in 2008. (I’m guessing most people reading this remember that time well.) How will we know if weContinue reading “Recession Explained”
Figure Out How Inflation Works
The price of everything keeps going up! What is happening and can I do anything about it? Prices have been risen in the last few years at rates not seen in the US in nearly 40 years! Why are prices rising and what is this inflation people keep talking about? Let’s all help ourselves betterContinue reading “Figure Out How Inflation Works”
Create Realistic Goals for Yourself
The New Year is an easy time to start, but any time will work. One gift idea – for yourself or others – are notebooks to write down financial goals for the year, broken down by the month – plus ideas for saving money, budget information and more. Consider starting like this: This year IContinue reading “Create Realistic Goals for Yourself”
Interest – Savings Accounts, Credit Cards, Mortgages – What doesn’t it affect?!
Interest rates changed at a fast past in 2023. Let’s talk about what’s been happening and what it means for you. Interest can affect so many parts of our financial lives – earning money, spending money, calculating what things really cost. But what is it? And why has it changed so much recently? Since 2008Continue reading “Interest – Savings Accounts, Credit Cards, Mortgages – What doesn’t it affect?!”
How to Write & Read Checks + Check Cashers
Yes, checks are still sometimes necessary in 2024. Checks may seem old-fashioned, but it’s still really important to know how to write a check and understand the information on checks. Section One: How to Write and Read a Check As a landlord who regularly has tenants in their 20s, I’ve had to teach many peopleContinue reading “How to Write & Read Checks + Check Cashers”
Track Your Spending to Understand Your Money Habits
Take a deep dive on how you’ve been using yourown money by tracking your spending. More information and templates below! Many people don’t create budgets because they don’t know where to begin. But there is a practical, doable strategy for moving forward with financial planning – tracking your own spending. Financial stability is ultimately dependentContinue reading “Track Your Spending to Understand Your Money Habits”
Mastering The Bank
Let’s break down the main types of bank accounts, how banks protect you and other secrets of their world! Banks offer many services, but the one we all use most often are bank accounts. There are four main types of accounts to know about. The most common are checking and savings accounts. Then the areContinue reading “Mastering The Bank”