Videos aligned with the “Spending and Saving” standard from the Jump$tart National Standards in K-12 Personal Finance Education.
Overall Competency: Apply strategies to monitor income and expenses, plan for spending and save for future goals.
What is a currency exchange? A currency exchange is a place where you can exchange one currency for another. For example, you could visit a currency exchange to exchange US dollars for Euros. Why would I use a currency exchange? When you’re traveling, you may be visiting a country whose local currency may be different …
Read MoreWhat is a Currency Exchange – A Super Simple Explanation
What is a bank account? When you want to keep your money in a bank, you open an account in your name with the bank. This way, the bank can tell that the money belongs to you. You deposit money into the bank account when you want to add money, and withdraw money from the …
Read MoreWhat is a Bank Account? A Super Simple Explanation
One of the best times financially is when you’re in your 20s – you’re likely not married, don’t have a mortgage or other obligations, and your job is probably the least demanding it will ever be. If you take advantage of this time, you’ll be very well off in the future, but if you waste …
Read More5 Money Mistakes to avoid in Your 20s and How to Fix Them
Howdy Wall St. Willy! Sometime ago I heard about a Cashier’s Check, but what is a cashier’s check anyway? A Cashier’s Check is a check that’s written by a bank instead of you writing it from your own account and it’s also signed by a cashier or teller of the bank. The bank also guarantees the …
Read MoreWhat is Cashiers Check or Bankers Check?
Howdy Wall St. Willy! Sometime ago I heard about a Money Order, but what is money order anyway? A money order is a payment ordered for a specific amount of money. Funds are prepaid to the issuer by the person buying the money order. Well, why do I need a money order? A seller may insist …
Read MoreWhat is a Money Order?
Howdy Wall St. Willy! I heard that some country had a really high inflation rate. But what is inflation anyway? Inflation is the increase in the prices of goods and services over time. Well, how does that affect us? Because of inflation the value of the dollar, also called its purchasing power, reduces every year. …
Howdy Wall St. Willy! I heard someone talking about an ATM. But what is an ATM anyway? An ATM stands for Automated Teller Machine. Well, what does it do? Well, an ATM is used mainly for taking cash out of your bank account. But you can also deposit cash and do some other basic things …
Read MoreWhat is ATM or Automated Teller Machine?
Howdy Wall St. Willy! I heard my parents saying they want to open an emergency fund. But what is an emergency fund anyway? An emergency fund is money that you keep aside for unexpected expenses or if you lose your job. Well how much money should I have in my emergency fund? You should usually …
Read MoreWhat is an Emergency Fund and Why it is Important
I’ve read that because of Coronavirus, people are getting stimulus checks. But what is a stimulus check? Since many people have lost their jobs because of the Coronavirus lockdown, people can use some financial help to cope with their loss of income. Under the CARES Act, the US federal government is providing financial help called …
Read MoreWhat is a Stimulus Check or Economic Impact Payment?
What is savings account? A savings account is an account for storing money while you earn some interest from it. But how much interest do I make from a savings account? It changes from time to time, but in 2018, it is 0.1% – 1.5% per year depending on the bank. That’s really low …
Read MoreWhat is a Savings Account?
