Category: Financial Literacy
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What Is Inflation and Why Does It Matter?
Inflation is when prices for goods and services increase over time, meaning your money doesn’t stretch as far as it used to. It’s why your groceries, gas, and rent might seem more expensive now than they did a year ago. Inflation matters because it impacts everyone—when prices rise faster than incomes, it becomes harder to…
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What is Annual Percentage Rate (APR)?
What does annual percentage rate (APR) mean? It represents the yearly rate charged for a loan, like a credit card. When you apply for a credit card, you’ll see a section called the Schumer Box, which outlines key terms and details about the card. The box, named after a congressman, was created to ensure transparency…
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How to Prepare for the Fed’s Next Rate Drop
So, you’ve heard the buzz—the Federal Reserve might be lowering interest rates again. But what does that actually mean for you? Don’t worry, we’re here to break it down in a way that won’t make your eyes glaze over. Whether you’re thinking about saving, borrowing, or investing, here’s how you can prep for the Fed’s…