Wednesday Word of the Week

We all know about the arithmetic mean, but have you heard of the geometric mean? In finance, the geometric mean is a…

Definition The digital divide refers to the gap between those with access to technology—namely computers and high-speed internet—and those without access to…

Definition The “black tax” is a term used to refer to the extra financial burden that black people and other communities of…

Definition The racial wealth gap is the difference in assets owned by various races and ethnicities across society. Why It’s Important The…

Definition Redlining is a discriminatory practice in which people are denied certain services (like banking, housing, or insurance) because of their race…

Definition People who are self-employed or receive substantial income from an employer that is not required to practice payroll withholding (such as…

Definition The Lifetime Learning Credit is a tax incentive for people taking classes to improve their job skills or get a degree….

Definition: An escrow account is a special reserve account at a financial institution in which funds are held until they are paid…

Definition 529 plans are also called qualified tuition programs.  These plans are used as a tax shelter and a way to invest…

The Economic Cycle Definition The economic cycle is the fluctuation of the economy between periods of expansion (growth) and contraction (recession). Factors such as…