In order to achieve what you want financially, you have to begin with the end in mind.
At first, this may seem counter-intuitive. You may think that the first step toward financial prosperity is deciding what you’re going to do next, but more important than that is figuring out where you want to [...]

If you wanted to build a house, you would surely need to start with the right materials. You would need a foundation, bricks, wood, and a roof among other things. But those things aren’t enough by themselves. You would also need the right tools.
Similarly, you also need the right tools [...]

In order to have the ability to make good financial decisions, you have to have an understanding of the basics of personal finance…the building blocks. In this lesson, we lay those building blocks out for you and teach you exactly what you need to know about them. Your knowledge of these building blocks will lay the foundation for how you think about your finances and will allow you to know what choices to make when options present themselves.

In its simplest form, the monetary system in the United States consists of a central bank, a treasury, and a network of banks. The Department of the Treasury, or the Treasury for short, basically handles the finances of the United States’ government. Banks are institutions where people and businesses deposit money in order to earn interest and borrow money in order to fund major asset purchases that help them grow financially. Banks make money from the interest people and businesses pay on money the bank lent them. The central bank in the United States is called the Federal Reserve, or the Fed for short. Think of the Fed as a bank for the government and other banks.

We all use money on a daily basis to purchase necessities and maintain our lifestyle. It is generally defined as a store of value, a measure of purchasing power, and a medium of exchange for goods and services. Exactly what does this mean? Allow us to explain.