Category: Personal Finance
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Gender Disparities in Financial Literacy
In a study conducted by the TIAA Institute, American women on average scored ten percentage points worse than their male counterparts on a financial literacy exam. I’d confidently argue that this isn’t the result of inability. Rather, this phenomenon is likely the result of not having access to resources. Regardless, this is an alarming…
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Student Loan Forgiveness Doesn’t Solve the Problem
On July 14, 2023, the Biden Administration announced that it would forgive roughly $39 billion in student loans for over 800,000 borrowers. This comes just a few weeks after the Supreme Court rejected a broader forgiveness effort by President Joe Biden (Dept. of Education v. Brown, Biden v. Nebraska). While there still might be some…
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Your Spending Habits are Worse Than You Think
Consumerism is a critical part of the American identity, which is seen in citizens’ spending habits. Americans consume at rates significantly higher than those of foreign countries. This can be seen in the demand for bulk discount stores and storage facilities. Costco, the second discount store in the world, has 558 of its 803 locations…
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How to Make an Emergency Fund
According to the United States Federal Reserve, about 40% of Americans would be unable to cover a $400 emergency expense. In other words, two out of five people do not have enough savings to afford $400 at a moment’s notice. What does this mean? Well, a significant amount of Americans are one unexpected expense away…
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What in the World are NFTs?
If you are someone who reads the news, you probably have heard the term “NFT.” If you are like me, you probably were completely lost upon hearing the term. I feel like every time I look at the news, a new NFT is being sold for millions of dollars. With so much hype around NFTs,…
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Why Our School System Needs a Change
With a GDP greater than $21 trillion, the United States has cemented itself as a global economic power. However, despite being a global economic power, many of its citizens have no grasp of personal finance. Across the country, many citizens lack a basic grasp of financial principles and fundamentals. According to a FINRA report, 19%…