RetireReady

Foundations track

Money Basics: A Starter Course for Students

For high-school students (ages 13 to 17, enrolled by a parent or guardian) and anyone starting out. Read a paycheck line by line, build a first budget, see how simple and compound interest work for savers and against borrowers, add up every tax you'll pay (income, payroll, sales, property, car registration and gas), learn what health insurance really costs, and plan for a first car or home. Every lesson has a calculator, and every tool comes as a spreadsheet template you can keep.

Module 0 Why money basics matter 15 min, 0/1 done

What the course covers, and setting a first money goal.

  1. What this course covers, and your first goal Free preview 8 min

Module 1 Your paycheck 30 min, 0/2 done

Gross pay versus net pay, every line on a pay stub, and how pre-tax deductions work.

  1. Gross pay, net pay and your pay stub Free preview 10 min
  2. Pre-tax deductions: paying less tax on purpose 10 min

Module 2 Budgeting 30 min, 0/2 done

Pay yourself first, the 50/30/20 starting point, needs versus wants, and tracking where money goes.

  1. Your first budget: pay yourself first and 50/30/20 10 min
  2. Tracking spending and planning for bills that don't come monthly 9 min

Module 3 Interest, saving and investing 35 min, 0/2 done

Simple versus compound interest, the rule of 72, and why starting early matters so much in the stock market.

  1. Simple versus compound interest 10 min
  2. Investing, the stock market and starting early 11 min

Module 4 Borrowing and credit 30 min, 0/2 done

How loans and credit cards charge interest, why longer loans cost more, and the trap of minimum payments.

  1. How loans work: car and student loans 10 min
  2. Credit cards and the minimum-payment trap 10 min

Module 5 Taxes and the cost of living 35 min, 0/2 done

Every tax you'll pay in a year (income, payroll, sales, property, car registration, gas) and how each one fits in a budget.

  1. Every tax you pay in a year 12 min
  2. Cost of living: why where you live matters 10 min

Module 6 Insurance and health costs 30 min, 0/2 done

What insurance is for, and the whole cost of health insurance: premium, deductible, copays, coinsurance and the out-of-pocket maximum.

  1. What insurance is for 9 min
  2. Health insurance: the whole cost 12 min

Module 7 Goals: a car, a home, and what's next 30 min, 0/3 done

The full monthly cost of a car and a home, saving for a down payment, and your next steps.

  1. The true cost of a car 10 min
  2. Renting, buying and the cost of a first home 11 min
  3. Your money plan and what's next 8 min