13 Money lessons They Don’t Teach You In School

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Schools rarely offer lessons on real-world problems like parallel parking, dinner table etiquette, and how to talk to people in elevators (seriously, there’s only so much to say about the weather).

One subject that’s especially unclear for many young adults is personal finance: from taxes to savings and everything in between, it’s hardly ever covered in a school setting. As you start earning a more significant income, you’ll want to brush up on your finance knowledge to ensure you don’t miss out on any extra savings or growth potential.

Without further ado, here are 13 easy-to-grasp(ish) personal finance concepts to learn in your twenties and make the most of your income:

1

A mortgage is basically one big loan

Maybe you’ve never quite grasped the concept of a mortgage, and now you feel like it’s far too late to ask. Consider this your embarrassment-free explanation: a mortgage is a loan the bank lends you so you can buy a house, which is paid off in increments over several years.

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