How everyday finance actually works — pay, prices, interest and the systems behind them.
Checking account vs savings account: checking moves money you spend today, savings pays interest on money you park. Which account each dollar belongs in.
What is a 529 plan? A state-run account where education savings grow tax-free. Qualified expenses, the 2026 K-12 limit, state deductions and Roth rollovers.
A money market account pays savings-style interest and still lets you pay by cheque or debit card. Rates, minimums, fees and the fund trap, explained.
A secured credit card is backed by a refundable deposit that usually sets your limit. How the deposit, reporting and graduation to an unsecured card work.
What is a 401(k)? An employer retirement plan explained: 2026 contribution limits ($24,500), the employer match, traditional vs Roth, and withdrawal rules.
Average net worth by age from the Fed's 2025 survey: median $215,900, mean $1,241,500. Every age group's median and mean, with sources and method stated.
What is compound interest? Interest on your interest, explained with the formula, worked examples, the Rule of 72, APY, and how it also grows card debt.
Credit union vs bank comes down to ownership: members own one, shareholders the other. Insurance ($250,000 both), rates, fees, and how to choose and join.
Debt snowball vs avalanche: smallest balance first or highest rate first? A worked example shows the interest gap — and which plan people actually finish.
Does buy now pay later affect your credit score? Pay-in-4 usually goes unreported; longer BNPL loans are reported like other loans. The split, explained.
ETF vs index fund: two wrappers, one strategy. Intraday trading and no minimum vs daily pricing and automatic investing - costs, taxes and minimums compared.
High-yield savings account vs CD: one keeps your money liquid at a variable rate, the other locks a fixed rate. Penalties, ladders and taxes compared.
How does capital gains tax work? Short vs long-term rates, the 0%, 15% and 20% bands, the 3.8% extra tax, losses, and the main-home exclusion explained.
How does Social Security work? Workers pay 12.4% tax that funds today's retirees, 40 credits qualify you, and your best 35 years set the benefit. Explained.
How is net worth calculated? Total assets minus total liabilities - one subtraction. What counts, a worked example, common mistakes, and net worth vs income.
How to build credit from scratch: one account that reports to all three bureaus, pay on time, keep balances low - and a first FICO Score in about six months.
Net worth percentile by age from the Fed's 2025 survey: the 50th, 75th, 90th, 95th and top 1% thresholds for every age group, with sources stated.
What is a good APR? Below the current average for that credit type: cards 22.36%, auto loans 7.54%, personal loans 11.90% - Fed figures, August 2026.
What is a dividend? A share of company profits paid to shareholders. The four key dates, how yield works, why the price drops on the ex-date, and the taxes.
What is a HELOC? A revolving credit line secured by your home's equity: draw period, repayment period, variable rates, CLTV, risks, and vs a home equity loan.
What is adjusted gross income (AGI)? Total income minus specific adjustments - line 11 of Form 1040. How to calculate and find yours, AGI vs MAGI explained.
What is an emergency fund? Cash kept only for unplanned expenses. How much to keep, where to keep it, what counts as an emergency, and building one on low income.
What is an ETF? A fund holding a basket of stocks or bonds that trades like a single share. How it stays near its value, what it costs, the types, how to buy.
What is an insurance deductible? What you pay before the insurer pays: yearly in health, per claim in auto and home. Worked examples and premium trade-offs.
What is APR? The total yearly cost of borrowing - interest plus fees - as a percentage. APR vs interest rate and APY, worked examples, and 0% APR traps.
How does escrow work on a mortgage? Your monthly payment also collects tax and insurance money. How the amount is set, the cushion, and why payments jump.
What is a good credit score? From 670 on FICO and 661 on VantageScore - but the bands differ. Both ranges as published, the five FICO factors, free checks.
What is an HSA? A tax-free account with a high-deductible health plan for medical costs. Who qualifies, the triple tax advantage, and 2025-2026 IRS limits.
