NEW YORK, N.Y. – On Friday, June 8, Working in Support of Education (W!se) held its annual Scholars Reception to honor high school students who earned a score of 95% or higher on W!se’s 2017-18 national standardized Financial Literacy Certification Test. The Test is administered each year at high schools from 48 states that participate… Read More
“Where’s Rebecca?”: Foster Care App Takes Top Prize at QLI Awards
NEW YORK, N.Y. – On Monday, June 4th, Working in Support of Education (W!se) held the 23rd annual Quality of Life INNOVATIONS (QLI) Awards Ceremony, generously hosted by CITI. 180 guests attended the event, which was capped off with the announcement of the 2018 prize winners. More than 749 high school students in all 5… Read More
Financial Implications of Marriage (as reported by Preeti Varathan on www.qz.com)
There are a lot of reasons people get married. And while we might not want to admit it, “financial reasons” often make that list. There are a number of ways in which getting married will impact your personal finances. First and foremost, they will change your taxes. While most common wisdom assumes that a married… Read More
Personal Finance Rules (as reported by J. D. Roth on www.getrichslowly.org)
Rules of thumb are meant to stand as simple shortcuts for far larger, and more complex, processes and practices. The world of personal finance is rife with them. There are so many that, often, they conflict. When that happens, where do we turn? Who do we believe? Enter J. D. Roth, writing from his blog… Read More
Human Brains are Bad at Managing Money (as reported by Eshe Nelson on www.qz.com)
It would be great if one could improve the human brain to optimize it for handling money. As it is, there are a lot of things about the way we see the world that make managing our finances more difficult. For example, human beings have a present bias. That means that we have a tendency… Read More
Spend Now or Spend Later (as reported by J. D. Roth on www.getrichslowly.org)
For young people who are first entering the workforce, saving money can seem quite daunting. Although you are earning money for the first time, there are immediate demands on that money – clothes, commuting costs, food, rent, etc. It is hard enough to earn enough to cover your expenses, much less have anything left over…. Read More
W!se Announces Winning Slogan for Financial Literacy Social Media Contest!
NEW YORK, N.Y. – Working in Support of Education (W!se) is pleased to announce the winning slogan for its 2018 Financial Literacy Social Media Contest: “Life, Liberty, Pursuit of No Debt.” Samantha Conti, Sean Reilly and Colton Ritter, students from Mountain Range High School in Westminster, Colorado, created the winning slogan, and they will share… Read More
How Much Does Financial Aid Really Cover? (as reported by Dave Edwards and Helen Edwards on www.qz.com)
College tuition prices are higher than ever, and show no signs of coming down in the near term. So what is a family to do who wants the best education for their children but cannot afford the high costs of a college degree? Fortunately, most families qualify for some form of financial aid. But if… Read More
Raiding Your Retirement Savings (as reported by Allison Schrager on www.qz.com)
A 401k, pension account, or IRA are all built to help people save for retirement. However, what about saving for emergencies or other needs that crop up earlier in life. Often, those retirement savings can’t help you, because if you withdraw from them early, you are left to pay expensive penalties. That leads to a… Read More
Personal Savings Rates (as reported by Trent Hamm on www.thesimpledollar.com)
Your personal savings rate is an important financial metric to track. Calculating it is simple. To do so, you need to know two things: How much money you added to long-term savings last year How much money you earned after taxes last year We use long term savings to differentiate from money you put in… Read More