What is a Social Security Number?

If you're a citizen or legal resident worker of the US, you have a Social Security Number (SSN). You've probably heard the term thrown around a lot, especially when something like the Equifax hack happens, but you might not know exactly what a Social Security Number is or why it's so important. That's what we'll … Continue reading What is a Social Security Number?

What is an IRA?

When I graduated from college, my dad sat me down and explained that he wanted to help me open up a Roth IRA. A what-now? This did not sound like fun. I figured anything that is named by a bunch of letters is usually complicated and when it comes to money, complicated is scary. As … Continue reading What is an IRA?

What is an emergency fund?

This one's pretty easy. An emergency fund or "rainy day fund" is any money that you have set aside to use ONLY IN CASE OF EMERGENCY. The purpose of an emergency fund is to be a safety net in case you have an unexpected bill that would wipe out your checking account. Experts recommend keeping … Continue reading What is an emergency fund?

What is a 401(k)?

Welcome back to our What Is? series of posts. Today, we'll tackle an exciting topic with a snooze-fest name -- the 401(k). The term 401(k) may look like something out of Algebra class, but it's actually one the most important perks any job can offer. More important than free food and a foos-ball table? Oh … Continue reading What is a 401(k)?

What is investing?

Investing. It sounds so big and grown up and scary. It’s the shadowy thing rich guys in movies do. Kids who talk about their “stock portfolio” on TV are supposed to be little geniuses. So of course, only the very smart or the very rich invest, right? Nope! Everyone, including you, can invest. What does … Continue reading What is investing?

What is overdrafting?

My senior year of college, five other girls and I drove down to Daytona Beach, Florida for our spring break. We were there too early in the season for all the crazy, party-hard events Daytona is known for, but we had a good time exploring the area and lying on the beach. On our last … Continue reading What is overdrafting?

What is a Credit Utilization Ratio?

In my article about what a credit score is, I talked about the factors that affect a credit score. Most of them are pretty straight forward. However, the second-most-important factor, your Credit Utilization Ratio (CUR), is a little trickier because it's all about percents. I can feel all you math-phobes out there starting to sweat, but … Continue reading What is a Credit Utilization Ratio?

What is a credit score?

You might have seen the commercials for sites and credit cards that give people access to their credit scores. All the people in those ads seem so surprised and excited to get their credit score, and it always shows a screen with some number in the 700s on it. But, you might be thinking, what … Continue reading What is a credit score?

What is a debit card?

When you open a checking account, and sometimes a savings account, with any major bank, you receive a debit, or check, card. It looks like a credit card, but it usually has the word “Debit” printed on it somewhere. So what is this card and how should you use it? A debit card allows you … Continue reading What is a debit card?

What is a credit card?

Credit cards are both amazing and terrifying. They allow us to pay for whatever we need instantly and without carrying cash around, and they take up only a tiny space in our wallets. A good credit card can be a powerful tool, but it can also be dangerous. Let’s take a look at what credit … Continue reading What is a credit card?