Pashen’s Story: Lessons for My Boys
Meet Pashen, a Florida native currently living in Lake Wales with her three sons. What do you do? I’m a paraeducator at my local school district. I help my students who may have learning disabilities. What did your upbringing teach you about finances? As a kid, I was always worried if my parents were going…
Read MoreWhat is private mortgage insurance?
If you get a conventional loan and make a down payment of less than 20 percent of the home price, you are required to purchase private mortgage insurance (PMI). PMI protects the lender (not you) in case you fail to make your mortgage payments. Banks, savings associations, credit unions, and mortgage companies make conventional loans…
Read MoreWolf’s Story: It’s Not About Amassing a Fortune
Meet Wolf, a retired psychologist living in the mountains of Colorado with his wife and many animals. What do you do? My wife and I are retired. We have a small, 35-acre ranch here. We make a little bit of extra money with our goats and chickens. I also contract tutor online. It’s a good…
Read MoreAndrea’s Story: Money is About Having Options
Meet Andrea, who lives in Connecticut and loves video game memorabilia. What do you do? I’m not employed at the moment. I have been employed in the past, but it’s been a while. At the moment, I’m trying to figure out some things before diving back into employment. What did your upbringing teach you about…
Read MoreTamiko’s Story: Pay Yourself First
Meet Tamiko: Tamiko lives in Dothan, Alabama with her two children, Ayonna (13) and Aidan (8). She has worked as an administrative assistant for her church for 16 years. What did your upbringing teach you about finances? My mom was a single parent, so she always managed money. It was a struggle for me, but…
Read MoreLauren’s Story: Money Won’t Make You Happy
Meet Lauren, a mother of four daughters (including a two-month-old baby!) who lives with her husband in Conway, South Carolina. What do you and your husband do? My husband is a produce manager at our neighborhood market. I am current filing for disability. What did your upbringing teach you about finances? Money doesn’t grow on…
Read MoreNicole’s Story: Live on Less Than You Earn
Meet Nicole, a social worker and mother of two in Atlanta, Georgia. What do you do? Right now, I’m working in logistics, but I was a social worker for a very long time. When I got married and had my kids, I took a break from social work because it’s a very involved career. So…
Read MoreWhat’s the difference between a bank and a credit union?
What is the difference between a bank and a credit union? Submitted by anonymous. Banks and credit unions serve similar roles in our financial system. Both hold our deposits and make investments to raise money to lend to businesses and individuals. In general, banks are for-profit businesses. Their profits benefit their shareholders. This is one…
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