Money
Where your money goes, a cushion for surprises, credit and taxes.
29 lessons ready · 23 more on the way
M1Banking basics3 lessons
- Opening your first bank account
A checking account keeps your money safe and lets you pay by debit card, online or by app.
- Checking vs. savings, and why you want both
Checking is for money you spend: your debit card, bills and payment apps.
- Overdrafts and fees, and how to avoid them
An overdraft means the bank paid for something you didn't have the money for, and usually charged you a fee.
- 3 more on the way
M2Budgeting that survives real life1 lesson
- Your first budget in 20 minutes
Write down your monthly take-home pay, list your bills and spending, and subtract.
- 5 more on the way
M3Emergency fund2 lessons
- How much to save, starting small
Start with a small first goal, sized to the kind of surprise bill you've actually had before.
- Automating your savings
Set up a recurring transfer from checking to savings that runs on payday, so you save before you have a chance to spend it.
- 3 more on the way
M4Credit, reports and scores3 lessons
- How credit scores work
Your credit score is a number that predicts whether you'll pay a loan back on time.
- Reading your credit report
Get your free reports at AnnualCreditReport.com, then go through each one for accounts you don't recognize, wrong balances and late payments that aren't yours.
- Disputing errors on your report
Dispute the mistake with the credit bureau that shows it, online, by mail or by phone.
- 3 more on the way
M5Debt3 lessons
- APR and interest in plain English
A credit card's interest rate is the price you pay for borrowing, written as a yearly percent called the APR.
- Debt collectors: your rights
A debt collector has to tell you who you owe, how much, and how to dispute it.
- Payday loans and other expensive traps
A payday loan is a small, short-term loan due on your next payday, and it's very expensive.
- 2 more on the way
M6Taxes for regular people3 lessons
- Filling out a W-4
A W-4 tells your employer how much federal income tax to hold back from each paycheck.
- Filing your taxes for free
Many people can file a federal return for free.
- Spotting IRS scams
The IRS starts most contact by mail.
- 3 more on the way
M7Paying for college5 lessons
- FAFSA, step by step
The FAFSA is the free federal form colleges and career schools use to decide your grants, work-study and loans.
- Reading a financial aid offer
An aid offer mixes money you keep (grants and scholarships), money you earn (work-study) and money you pay back (loans).
- Scholarships and scholarship scams
Scholarships are gifts you don't repay, and finding them is free.
- Federal student loans, explained
Federal student loans come from the U.S.
- Student loan repayment plans
When federal loans come due, you choose a plan: a fixed monthly payment, or one based on your income.
M8Insurance4 lessons
- Premiums, deductibles and out-of-pocket maximums
The premium is what you pay every month just to have insurance.
- Health insurance options
If you're under 26, you can usually stay on a parent's plan.
- Auto insurance basics
Nearly every state requires liability insurance, which pays for damage and injuries you cause to others.
- Renters insurance
Your landlord's insurance covers the building, not your stuff.
- 1 more on the way
M9Investing and retirement4 lessons
- Why starting early matters
Money you invest earns a return, and then that return earns a return.
- 401(k), 403(b) and IRAs
A 401(k) or 403(b) is a retirement account through work, paid straight from your paycheck.
- Index funds and fees
An index fund tries to match a market index instead of beating it.
- Investment fraud red flags
There's no such thing as high guaranteed returns.
- 1 more on the way
M10Big purchases and negotiating1 lesson
- Buying a car without getting taken
Know your budget and financing before you shop, get an independent mechanic to inspect any used car, read the Buyers Guide on the window, and compare the total cost, not just the monthly payment.
- 2 more on the way