Black Women on Forbes’ “America’s Richest Self-Made Women Under 40”

Kylie Jenner, Taylor Swift, Vera Wang, Ellen DeGeneres––what do they all have in common? They made Forbes’ “America’s Richest Self-Made Women Under 40” list. However, they weren’t the only ones who appeared on the list––76 other women were named as well. Out of the 80 women who made it on Forbes’ “America’s Richest Self-Made Women Under 40,” six of them were black women. Here are the details on who they are, what they were ranked, how much money they make, and where their money is coming from:

 

Oprah Winfrey––entrepreneur, TV personality, and philanthropist––ranked number 10 on the list. At the age of 65, her net worth is $2.6 billion. According to Forbes, Winfrey transitioned her 25-year-old talk show into a media and business empire and “the profits from her show add up to an estimated $2 billion.” Forbes stated that Winfrey also launched her own cable channel OWN (Oprah Winfrey Network) and signed a deal with Apple’s streaming service, which contributes to her worth. 

Sheila Johnson––co-founder of BET (Black Entertainment Television) and CEO of Salamander Hotels and Resorts––ranked number 31 on the list. At the age of 70, her net worth is $820 million. According to Forbes, BET was sold to Viacom for $2.9 billion in 2001 and after divorcing her husband and co-founder of BET, she sold off her shares and has since invested in hotels in Florida and Virginia, planes, real estate and horses.”Innisbrook, which is a Salamander resort, hosts the PGA Tour’s Valspar Championship annually. 

 

Robyn “Rihanna” Fenty––musician, businesswoman, and actress––ranked number 37 on the list. At the age of 31, her net worth is $600 million. A combination of her music, co-owning makeup brand Fenty Beauty, owning lingerie line Savage X Fenty, and starting her own fashion house is what contributed to her net worth. According to Forbes, Fenty Beauty “generated an estimated $507 million in revenue last year.” Forbes also ranked Rihanna as “The World’s Richest Female Musician” and stated she will be “the first black woman in charge of a major luxury fashion house.”

 

Beyoncé Knowles-Carter––musician and actress––ranked number 51 on the list. At the age of 37, her net worth is $400 million. According to Forbes, Beyoncé’s On the Run II tour “grossed roughly $5 million per night, pulling in a total of more than $250 million.” She recently released “Homecoming,” a Netflix special about her performance at the 2018 Coachella Valley Music and Arts Festival, voiced as Nala in the 2019 version of “The Lion King,” and is partnering with Adidas, which all contributes to her worth as well.  

Janice Bryant Howroyd––founder and CEO of ActOne Group (a workforce management company)––ranked number 53 on the list. At the age of 66, her net worth is $390 million. According to ActOne Group, ActOne Group provides “employment, workforce management, and procurement solutions to a wide range of industries, Fortune 500 organizations, local and mid-market companies, and government agencies.” Forbes stated that ActOne Group’s estimated revenue in 2017 was $950 million. Forbes also stated that she owns “several dozen properties including commercial rental properties and residences” with her family.

 

Serena Williams––professional tennis player, entrepreneur, and founder of Serena Ventures (a firm that invests in start-up companies)––ranked number 80 on the list. At the age of 37, her net worth is $225 million. According to Serena Ventures, Serena Ventures has invested in more than 30 companies including Billie Inc., Brandless Inc., and Daily Harvest. According to Forbes, her “$89 million in career prize money is twice as much as any other female athlete.” Forbes also stated that her investments in start-ups through Serena Ventures “in a portfolio is worth at least $10 million,” she has her own clothing line, and “owns stakes in Miami Dolphins and UFC.”

Wondering who else made Forbes’ “America’s Richest Self-Made Women Under 40”? Check out the full list here: https://www.forbes.com/self-made-women/list/#tab:overall

‘Tis The Season- Charities You Can Donate To This Holiday Season

‘Tis the season for giving, and giving to charity is the perfect way to help those in need – while also helping yourself to a tax break. But how do you know which charities are the best? There are thousands of great charities out there doing amazing things with donated money, but there are also shady charities that are just out to get your money.

We’ve constucted a list of a few charites by category, so no matter what area you’d like to help in, know that there’s a legitmate organization waiting for you!

FOR ANIMAL LOVERS

1) World Wildlife Fund

The World Wildlife Fund (WWF) allows animal lovers to donate money to help species of wild animals. A $55 donation allows you to help wildlife while also earning you a small animal plush of your choice, photo, adoption of certification, species card, and gift bag. This charity is a fun one if you are looking to give a donation in lieu of a gift, since the WWF donation comes with a little gift.

2) Wildlife Conservation Society

As one of the best animal charities, the Wildlife Conservation Society uses its donations to help save wildlife and habitats throughout the world. Founded in 1895 — then named the New York Zoological Society — this animal charity uses science, conservation efforts and education to make a difference. By 2020, it aims to conserve the largest wild places on Earth in 16 priority regions, which is home to more than 50 percent of global biodiversity.

Headquartered in the Bronx, N.Y., 85 percent of the charity’s fiscal year 2016 expenses were spent on programming for its parks — the Bronx Zoo, Central Park Zoo, Queens Zoo, Prospect Park Zoo and the New York Aquarium — and the field.

3) The Humane Society of The United States

The leading animal advocacy organization in the country, The Humane Society of the United States helps more than 100,000 animals per year. The nonprofit’s work includes animal rescue and care, animal advocacy, and providing training and services to local shelters and rescue groups.

Some of the Humane Society’s top accomplishments include lobbying to make malicious animal cruelty and dogfighting a felony in all 50 states, lowering the euthanasia rate for healthy, adoptable cats and dogs by 80 percent since the 1970s and working with several leading department stores and designers to go fur-free.

FOR CHILDREN IN NEED

1) Angel Tree

A Christian based organization, Angel Tree believes that every child has a story. For 2.7 million children in the U.S., that story may be filled with the abandonment and loneliness that comes from having a mom or dad in prison.

Angel Tree® is a program of Prison Fellowship, reaches out to the children of prisoners and their families. This unique program gives you an opportunity to give back by helping to meet the physical, emotional, and spiritual needs of the families of prisoners.

2) Toys For Tots

Take your family to shop for a less fortunate child, and you’ll teach your kids valuable lessons on thankfulness, empathy and charitable giving. Purchase a new toy and take it (unwrapped) to a Toys for Tots drop-off location between October and December.

One or more members of the U.S. Marine Corps will distribute the toys to children in your community.

3) Playtime Project

The Homeless Children’s Playtime Project is a Washington, D.C based organization that partners with local family shelters and temporary housing facilites. While the Play Project is alway’s seeking on site volunteers, monetary donations are accepted as well. Learn more about The Homeless Children’s Playtime Project here.

FOR LGBT

1) True Colors Fund

An estimated 40% of homeless youth identify as LGBT, often because they were rejected by their families after coming out. Homeless LGBT people often report having trouble finding shelters where they feel safe being out, so overtly LGBT-friendly shelters are critical. The True Colors Fund, which was co-founded by Cyndi Lauper, provides training and education for service providers like homeless shelters and soup kitchens across the nation on how to become safe, identity-affirming places for LGBT youth in need.

2) The Ali Forney Center NY

Ali Forney, was a gender-nonconforming teen who fled his home at 13. He entered the foster care system where he was bounced around to several homes, and was beaten and abused. Ali ended up living on the streets at the age of 15. Ali was dedicated to helping other young people and publicly advocated for the safety of homeless LGBT youth. Tragically, in December of 1997, Ali was murdered in Harlem—shot in the head and left for dead. 

The organization was founded in his honor in 2002; assisting nearly 1,400 youths per year through a 24-hour Drop-In Center which provides over 70,000 meals annually, medical and mental health services through an on-site clinic, and a scattered site housing program. See how you can help here.

3) The Trevor Project

Founded in 1998 by the creators of the Academy Award®-winning short film TREVOR, The Trevor Project is the leading national organization providing crisis intervention and suicide prevention services to lesbian, gay, bisexual, transgender, queer & questioning (LGBTQ) young people under 25.

FOR THE ELDERLY

1) Meals On Wheels

Meals on Wheels ensures that millions of homebound senior citizens are fed throughout the year, and that during the holidays, participating senior citizens are fed special holiday meals. So definitely give back to the elderly this holiday season with a Christmas dinner they can enjoy.

2) National Council on Aging

The NCOA is a government organization that partners with other nonprofit organizations and businesses to help provide resources and solutions to make aging easier on seniors in the United States. They offer educational resources and tools to help seniors find and take advantage of the benefits available to them in addition to advocating for seniors’ concerns at a policy level. You can see the many ways you can give to the NCOA here.

3) Senior Santa

Home Instead Senior Care’s “Be a Santa to a Senior” program partners with local non-profit and community organizations to identify seniors who might not otherwise receive gifts this holiday season. The company then works with local businesses and retail stores to help facilitate the purchase and distribution of gifts by placing trees and ornaments within their various locations.

FOR THE HOMELESS

1) Robinhood Foundation

Last year, NYC based Robinhood invested $129 million in 200 of the best poverty-fighting organizations. Learn more about the organization and hw you can contribute here.

2) The National Alliance to End Homelessness

The National Alliance to End Homelessness is a nonpartisan organization committed to preventing and ending homelessness in the United States. Focussing on homelessnes prevention and housing assistance, The Alliance provides capacity-building assistance to help communities turn policy solutions and proven best practices into viable, on-the-ground programs.

3) Bowery Residents’ Committee

The BRC helps people with low income, who are homeless, hungry, chemically dependent, psychiatrically disabled, aged and persons with HIV and AIDS. They provide a comprehensive array of services, including health care, vocational rehabilitation, AIDS services, community education and advocacy.

This Holiday Season- How To Afford Gifts That Don’t Suck

Part of being a prospering adult is how well we succeed once we leave the nest. Actually thriving at being independent can be so endering and vital that most of the time, it’s a contributing factor to our ever-growing millennial ego. We feel good about ourselves for being able to make it on our own in the world; away from home.

During the holidays when we travel back to our parents, highly competitive cousins, and siblings, we get to talk about ourselves and boast on our “success”- particularly by the gifts we bring home to put under the tree.

Now, whether you’re faking the funk or really balling out of control, that’s completely your business! But just in case you need them, here a few tips to help you afford everything you’ll need this holiday season.

  1. Cut Out Extra Costs: Subscriptions you don’t use- like Planet Fitness for crying out loud, $10 salads for lunch, excess shopping, extra glitter on the mani pedi. Stop it.

  2. Start Selling: List some of your unwanted items on sites like Offerup, Poshmark, Craigslist, Ebay or LetGo. You can even think about selling some of your old electronics on websites like Gazelle, that will even ship you a postage free box for your device and send you the cash via PayPal once they recieve it.

  3. No Spend Month: Give up 30 days of spending money on things that arent a neccessity. No shopping for clothes, no fast food, or unplanned trips. Opt for free things to do in your city as opposed to movie and dinner dates.

  4. Cyber Monday/ Black Friday: Bargain hunting is by far the easiest way to afford more with less, so why not take advantage of the two days of the year when everything is cheaper! Deal sites like Amazon are perfect for holiday shopping.

Google, IBM, Hilton, And Other Champion Companies Remove Degree Requirements For Acquisition Qualifications

There’s no doubt about it that in today’s economic culture, experience trumps all. It is even said that Harvard teaches their students to “create” job as entrepreneurs as opposed to “applying” for one.  If you don’t have the entrepreneurial nact however, the climate is changing in the corporate market as well.

With tuition costs rising, it’s becoming harder and harder for students to finish their degree while working full time to survive. 

Job-search site Glassdoor compiled a list of top employers who are expanding their talent options by no longer requiring applicants to have a college degree. Companies like Google, Apple and IBM are all in this group.

IBM is one company who is now looking at candidates with experience in non-traditional education, such as coding boot camps or industry-related vocational classes.

Glassdoor compiled a list of companies  that no longer require a degree to apply:

  • Google
  • Ernst & Young
  • Penguin Random House
  • Costco Wholesale
  • Whole Foods
  • Hilton
  • Publix
  • Apple
  • Starbucks
  • Nordstrom
  • Home Depot
  • IBM
  • Bank of America
  • Chipotle
  • Lowe’s

15 Companies That Will Help You Retire A Millionaire

These 15 companies offer incredible 401(k) options with sizable company matches. Combined, these companies are looking to fill over 100,000 open roles right now. Whoa! So get your resume ready and apply to one of these companies—your future financial security is depending on it.

1. Amazon

401k Details: “For occupational retirement provision there is the possibility of a 401(k) savings plan with a company match,” according to Amazon’s website. “Additionally, we offer a company-paid life and accident coverage as well as some optional additional dependent coverage.”

Where Hiring: New York, Jersey City, Newark, Edison, Sunnyvale, Seattle, and more.

What Employees Say: “Great starting pay and the ability to get raises very quickly. Full training in all areas are offered and if you’re willing to work hard and sweat every day for 10 hours a day, four days a week, then this is the job for you.” — Former Employee

2. Wells Fargo

401k Details: According to its website, “Wells Fargo is committed to your financial success and provides the 401(k) Plan to help you save for retirement. Currently, Wells Fargo matches your contributions—dollar for dollar—up to 6% of your eligible pay on a quarterly basis, after you complete one year of service. Additionally, Wells Fargo may make a discretionary profit sharing contribution to your 401(k) Plan account based on company performance.”

Where Hiring: New York, Summit, Hicksville, London, Manila, and more.

What Employees Say: “Networking, benefits, and growth opportunities are great. You meet amazing people along the way. If you play your cards right and build a solid relationship with your manager and district manager they will help you get promoted quicker.” — Current Employee

3. Accenture

401k Details: “New employees are immediately eligible to contribute to a 401(k) account through convenient payroll deductions,” according to Accenture’s website. “Upon meeting the eligibility requirements, employees receive a matching contribution from Accenture for each dollar they contribute up to six percent of eligible compensation.”

Where Hiring: New York, Fordham Park, Dallas, Seattle, Chicago, Austin, and more.

What Employees Say: “There are a lot of pros working for Accenture. They have great career opportunities, a never-ending supply of interesting work, competitive compensation, wonderful benefits, great people, wonderful training programs, a tremendous number of brilliant professionals in their fields ready to help, and great core values.” — Current Employee

4. Comcast

401k Details: According to its website, “We offer automatic enrollment along with dollar-to-dollar matching, up to the first six percent of your eligible pay contributed.”

Where Hiring: New York, Union, Saint Paul, Oakland, West Palm Beach, Pittsburgh, and more.

What Employees Say: “Competitive wages, and great benefits that also include employee discounts on products and services.” — Former Employee

5. Oracle

401k Details: Oracle allows its employees to contribute pre-tax money to a 401(k) plan, and matches some of the money its employees deposit, according to a video on its website.

Where Hiring: New York, Austin, Deerfield, Washington, D.C., Salt Lake City, and more.

What Employees Say: “The work is intellectually stimulating. Great benefits and incentives for salespeople. Great culture and community. Talented leadership with years of experience.”  — Current Employee

6. Capital One

401k Details: “We’ve designed our benefits program to be flexible, comprehensive and consistent across our organization,” Capital One writes on its website. “From health and fitness centers and discounts, to training and professional development programs—and much more—you’ll discover that Capital One is committed to helping you live your best life.”

Where Hiring: New York, Hoboken, Jersey City, Boston, Vienna, Richmond, San Francisco, and more.

What Employees Say: “Benefits are amazing. Culture and values are outstanding. Facilities are beautiful and make work a place you want to go.” — Current Employee

7. Target

401k Details: According to Target’s benefits site, “Target matches your contributions dollar for dollar up to 5% of eligible pay. Eligibility begins once you are age 18 and have completed 1,000 hours of service. The employer match is immediately 100% vested. New team members can rollover previous 401(k) balances at date of hire—even before eligibility for Target’s plan begins.”

Where Hiring: New York, Fresno, Edison, San Jose, and more.

What Employees Say: “$11 minimum wage that has progressed over time. Admirable company policies. Dedicated to making sure employees get meal times and breaks. Flexible with LOA for students who just need seasonal work.” — Current Employee

8. T-Mobile

401k Details: According to T-Mobile, “The 401(k) savings plan is offered through Fidelity and allows you to save for your future. You are eligible to participate in the 401(k) plan  immediately upon hire. You can contribute up to 75 percent of your regular earnings, and up to 85 percent of your bonus earnings—up the IRS limit each year. The limit is $18,500 for 2018. If you are age 50 or older you can contribute up to $24,500 in 2018.”

Where Hiring: New York, Memphis, Bellevue, Colorado Springs, Miami Beach, Wichita, and more.

What Employees Say: “This by far has been the best company I have ever worked for. They value their employees, there’s always the option of potential for growth within the company. [I’m] almost five years strong with this amazing organization and looking forward to many, many more years.” — Current Employee

9. Lowes

401k Details: According to Lowes’ website, “Lowe’s 401(k) Plan is designed to help you plan and invest for your future. Participation in this Plan allows you to save from 1 percent to 50 percent of your eligible compensation, not to exceed $18,000 in calendar year 2016, on a pretax basis through the convenience of payroll deductions. Lowe’s matches the first 3 percent you save each pay period at 100 percent. Savings at 4-5 percent of eligible compensation will be matched at 50 percent, and 6 percent at 25 percent, for a total Company Match of 4.25 percent if you save 6 percent.” 

Where Hiring: Sault Ste. Marie, Michigan, on going various locations 

What Employees Say: “Lowe’s was a purpose-driven company that did the right thing for customers and employees.” — Current Employee

10. Starbucks

401k Details: “Benefits-eligible partners (those working 20 or more hours a week) can get a wide range of perks, benefits and assistance,” according to Starbucks website. “Your Special Blend might include bonuses, 401(k) matching and discounted stock purchase options. We offer adoption assistance and health coverage for you and your dependents, including domestic partners.”

Where Hiring: New York, Houston, Boston, Chicago, Los Angeles, and more.

What Employees Say: “The benefits are out of sight. I was offered Starbucks stock after my first year, as well as 401k through Fidelity, and a superb Blue Cross Blue Shield health insurance plan. You can cover your whole family with that plan, and it can include domestic partners. I got a pound of free coffee every week and free coffee all day (although I think that was specific to my store, which bent the rules).” — Former Employee

11. Intuit

401k Details: “Participating in the 401(k) Plan is one of the best things you can do to save for your future. All U.S. employees are eligible to participate in the 401(k) Plan,” according to its website. “Free money from Intuit through eligible* matching contributions—$1.25 for every $1 you contribute, up to 6 percent of your eligible pay for a maximum $10,000 per year.”

Where Hiring: San Diego, San Francisco, Moutainview, London, and more.

What Employees Say: “Smart co-workers, great company-wide support/value for design and user research, good compensation and benefits, great company culture. Management open to feedback and many avenues to help solve what you think needs improved.” — Current Employee

12. Apple

401k Details: According to Apple’s Employer Benefits Summary on Glassdoor,  “Apple has a 401k offering consisting of 14 funds. Apple matches up to 6% of an employee’s eligible pay.”

Where Hiring: New York, Cupertino, Santa Clara, Austin, Ottawa, Toronto, and more.

What Employees Say: “The company is AMAZING. There are limitless advancement opportunities. You work with some very cool people and the leadership cares about your development. You may get coaching but you never get battered or belittled. The pay is decent and the benefits include, 401(k) match, stock purchase options, product discounts and discounts on services across many different areas.” — Current Employee

13. Hewlett Packard

401k Details: “As an HP employee, you qualify for a valuable 401(k) savings program, with HP providing a quarterly, discretionary performance-based match of up to 100 percent on the first 4 percent of pay you contribute,” according to Hewlett Packard’s website.

Where Hiring: New York, Austin, Roseville, Los Angeles, Houston, San Antonio, and more.

What Employees Say: “There is always something new to work on. You never feel bored. You get a chance to explore and learn, especially if you don’t have much industry experience.” — Current Employee

14. Ernst & Young Global

401k Details: According to its website, Ernst & Young Global’s 401(k) offers “multiple investment options, matching contributions and immediate 100 percent vesting for both your contribution and EY matching contribution.”

Where Hiring: New York, Palo Alto, San Jose, Dallas, Edison, Boston, Los Angeles, and more.

What Employees Say: “EY is a great company, the culture is diverse and inclusive. There is a lot of opportunities for growth if you want to be in public accounting or elsewhere.” — Current Employee

 

15. UnitedHealth Group

401k Details: According to its website, “With UnitedHealth Group you can begin planning for the future from the first day you begin your career [with a] 401(k) Savings Plan, Employee Stock Purchase Plan, [and a] UnitedHealth Group Credit Union.”

Where Hiring: New York, Las Vegas, Darlington, Miami, San Francisco, Wausau, and more.

What Employees Say: “Pay was pretty good and they taught you how to process and adjust medical claims. Great benefits and great PTO.” — Former Employee

3 Things You Should Know About Finance As A Millennial

Was I the only one who learned how to balance a checkbook in elementary school? Most likely. Do I remember any of that information today? NO. As with a majority of things in school, people will often say “When am I going to use this in real life?” or the direct approach “I won’t need this information after I graduate”. When it comes to a person pursuing a career in the chemistry field, it’s not exactly beneficial for them to memorize the events that take place in each part of The Canterbury Tales. But yet, they need to pass that class to graduate. Things like ensuring financial stability should be mandatory classes for those in 11th and 12th grade who will be soon in the real world one way or another. And, with the knowledge gained from these classes students will feel confident about their financial futures. Now being that we all aren’t business or accounting majors we have to learn about these things on our own. Top priority subjects in the finance world include Credit Scores, Investments/Savings/401ks and Stocks and Loans. Let’s look into each one and educate ourselves!

Credit Scores

What is a credit score exactly? We’ve all see the commercials and ads for how easy it is to check it but what do you know what it’s purpose is? Investopedia.com defines it as “A statistical number that evaluates a consumer’s creditworthiness and is based on credit history.” Basically, this means your credit score determines how trustworthy you are when it comes to repaying a loan. Naturally, a higher score means a higher trustworthiness level. Lenders look at this number and use it to determine if you will be approved or denied for the loan. To keep the score high all you have to do is consistently pay bills on time and keep your debt low. Investopedia.com also says “A person’s credit score may also determine the size of an initial deposit required to obtain a cell phone, cable service or utilities, or to rent an apartment.” Majority of people need all of these things once they’re on their own and thus places the importance of knowing what your score is and how to manage it before it’s importance is mandatory to your life.

Investments/Savings/401Ks

When it comes to investments, one has to think of the long term – not the present. Investing in something guarantees you will have money in the future because whatever invested in will have gained a profit/risen in value. You can invest in something in several different ways: You can buy collectible items such as trading cards or POP figures and wait 15-20 years for them all to accumulate in value and then sell your entire collection for one price. Or, you can buy multiple cases of water in the winter and wait for the summer and sell them on the street and make a guarantee profit based on demand. The latter is generally known as “flipping”. Also, you can invest in someone’s business by buying a stake of their company. A stake is a percentage of the company that you own and in turn make a profit based on the percentage size of your stake. However, if the business does not do well you will end up losing money.

Saving money is something we all are familiar with and told to do. It can be very hard when there are so many things that you want right now though. But, when you save money you can get things you want that cost more – like a vacation. And, saving money is not always strictly putting money aside for the future. It can be using discounts, coupons or simply not eating out too much.. Of course, putting money to the side in a savings account is always a wise choice, especially when you do it consistently. This can be done by putting some of your paycheck into that account every other paycheck or even every paycheck. When it comes to cash and coins, instead of saying “keep the change”, pocket the bills and start putting the coins in a jar. This may seem old fashioned but at the end of the year who knows how much you’ll have?

A 401 K Plan is something you hear adults mention and joke about as a child but never understand. As you get older you still hear it regularly and see it when applying for jobs. But what is it exactly? Investopedia.com defines it as “a qualified employer-sponsored retirement plan that eligible employees may make salary-deferral contributions to on a post-tax and/or pre tax basis.” This basically means you are saving money for your retirement and this money comes directly out your paycheck each time.no, you have no access to this money until you are actually retired. Also, as with most things involving money taxes do play a role. Originally taxes would not be taken out when deposits were made into the plan, only when withdrawals were made from it. However in 2006 the Roth 401k was established which reversed when the taxes were taken out. This version of the plan is available for eligible participants at over half of the companies that offer a 401K Plan. 401K Plans are just like investing and saving – to truly appreciate them you must thing in the long term. Retirement is a long way away for us but we still must keep it in mind. The 401K will ensure when we’re grandparents we won’t have our family members worrying about our finances and we the option to give our grandkids $50 instead of $5 when they get all A’s.

Stocks & Loans

If you’ve listened to rap at any point  in the past 15 years you’ve more than likely heard a punchline that mentions something “dropping like the NASDAQ” And, more than likely when you first heard it you didn’t understand it then once you did you began to get tired of it. Anyway, NASDAQ itself stands for National Association of Securities Dealers Automated Quotations and it’s literally the stock market itself – well one of them. It’s the second largest one in the world trailing the New York Stock Exchange. A stock is defined as  “a type of security that signifies ownership in a corporation and represents a claim on part of the corporation’s assets and earnings.” by investopedia.com. Stocks can be either common or preferred. When you hold common stock you can vote in shareholders meetings and receive dividends. Preferred common stockholders do not vote in these meetings however they earn more of a profit. They also hold priority in the unfortunate case of a company going bankrupt. Actually buying stock is a multi-step process and not one of those “walk away and forget about it and just let the money pile up” things simply because you can also lose money in the Stock Market.You can learn about the process here

If you’re a student or have ever purchased a big ticket item than you are already familiar with loans. Loans are amounts of money given to you because you need the money – and they must be paid back. On the surface level, loans sound great because you spend less of your own money at the beginning. However, as interest adds up you’ll end up paying more and more. The percent of interest however depends on where you get the loan. Taking out multiple loans at once is not encouraged either as this is how you can end up in debt which will affect your credit score which is what we began this whole discussion with. Looks like we’ve come full circle!

In closing, I hope these quick facts taught you something or encouraged you to do more research on the topics I mentioned. As I said earlier, such information should be mandatory to learn while in high school in turn allowing college courses can enhance it. And, while in college or even as you reach the end of high school these concepts will soon become a part of your life both inside and outside the classroom. Some of us get this information from our families or members of our church and some don’t at all. The latter is why it’s so important to have it taught to students in high school.