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Category: Financial Literacy

To be financially literate is to know how to manage your money. Financial literacy is confidently understanding concepts and vocabulary around investing, savings, debt, budgeting, banking, and more. These concepts are defined as paying off debt, creating a budget, saving for retirement, and understanding the difference between various financial instruments and terms.

Perhaps you have questions about what you need to do to improve your personal finance situation. Or you may just be looking for definitions of terminology. In any case, this resource center will help you become more financially prepared for your future.

What Is a Refund Scam?

An elderly man reads off his credit card information to a refund scammer.

Refund scams — also known as recovery scams or return fraud — occur when a scammer tries to convince an unsuspecting user that they are entitled to a refund, rebate, or reimbursement from a company. Like many other scams, refund scams often target the elderly, using high-pressure tactics and deception to trick their victims into […]

How to Tell If You’re the Victim of a Pyramid Scheme

Blocks with black figures resembling people on them are put together in a pyramid fashion with the top figure being red, symbolizing the hierarchy of a pyramid scheme.

Pyramid schemes are business models that require investors to recruit new members through the promise of earnings from sales or encouraging others to join the scheme. Traditionally, a pyramid scheme will make false promises of a high return over a short period of time. In some cases, a pyramid scheme may not require you to make […]

Health Insurance Defined — What Is It & How Does It Work?

A doctor helping a woman fill out her health insurance claim.

Health insurance is a type of insurance that assists in paying for medical expenses, which may include visits to the doctor’s office, surgeries, prescription drugs, treatment for injuries, or medical help with illnesses. There are several different types of health insurance policies that offer various coverages. You’re responsible for paying a monthly premium to the […]

What Is Passive Income and How Does It Work?

A table has some cookies, a plant, eyeglasses, a cup of tea, and a chalkboard that reads "passive income" on top of it.

Passive income is income that you earn regularly from a source that is not your employer or contractor. According to the Internal Revenue Service (IRS), passive income can come from either a property or business in which you don’t actively participate, such as renting out an investment property you own and collecting this rent monthly. […]

How Do Internships Work & Are They Right For You?

A trainer educating interns at a computer as part of their internship.

What Is an Internship? Internships are an opportunity to gain work experience and essential on-the-job training for the career path of your choosing. In some cases, the degree you study in college will require that you complete at least one internship during the course of your study. There are a number of different types of […]

What Is Investment Income?

A man pointing a tablet which shows investment income figures and graphs.

Investment income is money you earn from the increased value of your investments. The income you earn may include the dividends you’re paid on your stocks, capital gains you realize from the sale of your investment properties, interest you earn on your savings or money market account balances, or other profits you make through investment […]