The Group of 20, or the G20, concluded its 2-day meeting in Brisbane, Australia yesterday. Every year, 19 nations plus the European Union, which represent the mightiest economies, send their central bank leaders, finance ministers, and governors to meet in a forum where global economic issues are discussed, policies are compared, and objectives and intentions […]
A grocery bagger, a burger flipper, and a cashier—these are all minimum wage jobs. How much do you think people who hold these jobs are paid an hour (before taxes)? If you guessed $10, you aimed too high; if you said $6, you guessed too low. The current minimum wage is $7.25. In his State […]
On Saturday, January 25, Michaels, the largest craft supply chain in the United States announced it is investigating whether its customers’ credit cards had been hacked while making purchases. If confirmed, it is the latest in a string of in-store credit card breaches. Between November 29, 2013 and December 15, 2013, during the Black Friday […]
While elementary school students may have years before they are faced with decisions about credit cards and mortgages, it is essential that they have a solid foundation for future economic learning. Teach the meaning of money in the lower grades, including recognizing coins and bills and counting money, and teach skills such as saving and […]
Money, moola, lettuce, loot, long green, Benjamins, bills, bones. No matter what you call it, money is at the heart of much of what we do. Protecting our money is important. On October 8, a new $100 bill hit the streets. The new currency still features Ben Franklin, but it also includes new anti-counterfeit measures. […]
How many times have you been told to share? Turns out, your mom was on to something. A new approach to goods and services has emerged. It is called the ‘sharing economy.’ Others describe it as peer-to-peer marketplaces, or collaborative consumption. Whatever the name, the idea is simple: instead of spending money on goods you […]
In an extraordinary political drama, Detroit, yes the city, filed for Chapter 9 bankruptcy protection on Thursday, July 18th. It has faced a number of economic hurdles in recent years, including plummeting population, sinking tax revenue, and skyrocketing debt. By filing for Chapter 9, city officials hope to gain protection from unions and creditors. Watch […]
April 15th is a gloomy day for many Americans. It is Tax Day, the day Americans file state and federal income tax forms and submit payments. This year, 2013, marks the 100th anniversary of the federal income tax. In 1913, America ratified the 16th Amendment, which allows the federal government to levy a federal income […]
Few could argue that paper money has supreme importance in today’s world. This is because of its value and the fact that it is accepted almost universally. Before the advent of paper money, Barter Exchange Systems  were in place. These procedures worked fairly well whenever each party could provide something desirable for the other party. […]
As tax time approaches in the United States, students will learn about the budget process, Sequestration, and the current battle between Democrats and Republicans over where tax dollars will be spent. 2013 has been a contentious year for United States lawmakers trying to craft a federal budget. Although a government shutdown has been avoided through […]