By Joan Ryan
How one can plan and deal with your own funds, in attaining a financially profitable existence, and take accountability as a citizen. own monetary LITERACY is aligned with the Jump$tart Coalition's nationwide criteria for private monetary Literacy. the non-public concentration of this direction makes it correct and significant to all; specifically, to these simply beginning down the trail to private monetary independence.
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Studying and Literacy over the years addresses gaps in literacy research—studies delivering longitudinal views on beginners and the trajectory in their studying lives inside and out of faculty, and stories revealing how earlier reviews with literacy and studying tell destiny reviews and practices.
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Other types of group insurance coverage may also be available. For example, the employer may offer dental, vision, or long-term care. Retirement Plans Some companies offer 401(k) retirement plans. This type of plan allows employees to put aside money for retirement that is not subject to federal income tax at the time it is earned. Some states also do not require that state income tax be paid on money placed in a 401(k). The employer may match the contribution to some extent, such as 25 percent or more.
In some types of jobs, such as real estate sales, the worker’s entire earnings may be based on commission. For example, a real estate agent who arranges the sale of a home for $200,000 might receive a $12,000 commission. In other types of jobs, workers may be paid a base salary plus commissions. For example, a person who sells cars might receive a salary of $10,500 a year plus 25 percent of the profit on each car sold. SELF-EMPLOYMENT Working for yourself is called self-employment. A person who takes the risks of being self-employed and owning a business is called an entrepreneur.
Interest is money paid for the use of money. In the case of a student loan, interest is the money the student pays the lender in addition to the amount borrowed. Interest may be considered the cost of borrowing money. Interest charged on student loans is much lower than for other types of loans. A subsidized student loan is a loan on which interest is not charged until after you graduate. With an unsubsidized loan, interest is charged from the time the loan is made. With both types of loans, you do not have to begin repaying the loan until after you graduate from college.