Basic Finance Education

Level 3

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60% Complete
Budget Master Savings Beginner Finance Explorer
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Budgeting Basics

Learn how to create and maintain a budget to manage your money effectively.

Creating a Budget:

  • Track your income from all sources
  • Categorize your expenses (needs vs. wants)
  • Set spending limits for each category
  • Review and adjust your budget regularly
  • Use the 50/30/20 rule: 50% needs, 30% wants, 20% savings

Pro Tip: Always pay yourself first by allocating money to savings before spending on wants.

Saving & Investing

Understand the difference between saving and investing and how to make your money grow.

Saving vs. Investing:

  • Saving: Preserving money for short-term goals with minimal risk
  • Investing: Putting money to work for long-term growth with higher potential returns
  • Start with an emergency fund (3-6 months of expenses)
  • Consider low-risk investments like index funds for beginners

Compound Interest Calculator

See how your money can grow over time

Credit & Debt Management

Learn how credit works, how to build good credit, and how to manage debt responsibly.

Understanding Credit:

  • Credit score ranges from 300-850 (higher is better)
  • Factors affecting credit: payment history, credit utilization, length of history
  • Build credit with a secured credit card or becoming an authorized user
  • Always pay credit card balances in full to avoid interest

Did You Know? Your credit score can affect your ability to rent an apartment, get a cell phone plan, or even get certain jobs.

Financial Safety

Protect yourself from financial fraud and learn about insurance basics.

Staying Financially Safe:

  • Never share passwords or PINs with anyone
  • Be cautious of phishing emails and suspicious links
  • Monitor your accounts regularly for unauthorized transactions
  • Use strong, unique passwords for financial accounts
  • Understand basic insurance types: health, auto, renter's/homeowner's