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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 Brad’s Deals?

A person raises their arms in joy, with a credit card in one hand, while they shop online.

Sticking to a tight budget can be a big challenge nowadays. The number of things you could buy online and in-store anytime day or night is all too tempting. Fortunately, through online deal websites and coupon apps, there are more ways than ever to save on everything, from essentials such as food, insurance, and groceries to luxuries […]

What Is the Difference Between Traditional Accounting and Computerized Accounting?

A person typing on a computer while tallying financial figures on a calculator.

In traditional accounting, an accountant makes calculations and inputs financial data manually. For centuries, accountants worked with ledgers, entered information with a pen, and made calculations by hand. Some accountants still use pen and paper. Others use computers to store financial data, but make calculations and enter figures by hand. Computerized accounting, on the other […]

What Is a Federal Deficit?

A torn label that reads "federal deficit" sits on top of fanned out $100 bills.

A federal deficit occurs when a government spends more money than it takes in in revenue during a given year. The opposite of a deficit is a surplus. A surplus occurs when the federal government does not spend as much as it gets in revenue. In the U.S., there have only been nine surplus years since […]

What Is a Budget Surplus?

A torn label that reads "budget surplus" sits on top of fanned out $100 bills.

A budget surplus refers to a situation in which a government or governing body has more income than is needed for its expenses. In other words, a budget surplus takes place when a government brings in more money through sources of income such as taxes and receipts than it spends on things such as defense, education, […]

What Are Securities in Finance?

A close up of a computer keyboard. One green key reads "buy," while a red key reads "sell."

A security is a financial asset and investment that has value or represents debt and is tradeable. Securities help companies raise capital for projects, expansions, and other expenses. When you buy stocks for your portfolio, you’re investing in a small share of rights to ownership in a company or in a small portion of the […]

What Is Capitalized Interest?

A diploma sits under a graduation cap and some cash.

Lenders don’t provide loans to borrowers out of the kindness of their hearts. They offer loans that charge interest, which accrues over time and increases the amount you owe. This interest is what allows lenders to make a profit off the loans they provide. As a borrower, you’re responsible for paying back the loan amount […]