Financial Education From FINRA

Navigating finances can be difficult: you have to know about budgets, interest rates, mortgage calculators, IRA’s, 401k’s, durable power of attorney documents…the list can seem endless.

Thankfully the Financial Industry Regulatory Authority (FINRA) has a helpful way to educate everyone in these matters and more. FINRA.org explains in their “About FINRA” page that they are…

“…dedicated to investor protection and market integrity through effective and efficient regulation of broker-dealers.

FINRA is not part of the government. We’re a not-for-profit organization authorized by Congress to protect America’s investors by making sure the broker-dealer industry operates fairly and honestly.

So, in that spirit they have created a detailed, free educational resource to help consumers, even those who may not be investors per se, navigate just about every conceivable financial situation.

When you visit the FINRA Investor Education Foundation you will find the following setup:

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Since that type is a bit small, let me just tell you that each of the fifteen boxes you see here link to a detailed tutorial on a particular financial subject. The fifteen subjects are as follows:

  • Managing Money
  • Banking & Saving
  • Credit
  • Home Ownership
  • Education
  • Insurance
  • How to Invest
  • Investments
  • Retirement
  • Social Security
  • Kids and Money
  • Difficult Times
  • Protection
  • Getting Help
  • Estate Planning

Each training is self-paced, full of helpful information and may even be paused and completed at a later time. All you have to do to participate is sign up for a free account, choose the course you want to try, then follow the links. The program leads you through the process at the pace you desire.

 

 

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All you ever wanted to know about government spending but were too afraid to ask.

Ex Microsoft CEO Steve Ballmer has opened a new site called https://www.usafacts.org/, which describes itself as “a new data-driven portrait of the American population, our government’s finances, and government’s impact on society.” It claims to be a non-partisan site that provides a public service.

Mr. Ballmer sees this endeavor as philanthropy, and also takes it seriously as an academic venture. The site has a team made up of experts from Stanford Institute for Economic Policy Research (SIEPR), the Penn Wharton Budget Model, and Lynchburg College that, the claim goes “help keep our data accurate and unbiased”. The site not only uses only numbers and data directly from government sources, but has a policy of information only: no judgments, no opinions—just the facts. They also intend to “engage a prominent accounting firm” to audit their processes and controls used to present the information on the site.

So, let’s say you want to see a breakdown of what was spent in 2014. You start with this screen:

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Once you decide to be curious about something else you follow the budget, which the site breaks down into categories found in the Constitution: Establish Justice and Ensure Domestic Tranquility, Provide for the Common Defense, Promote the General Welfare and Secure the Blessings of Liberty to Ourselves and Our Posterity.

2Choose which category that interests you, and you’ll be taken to the next screen that gives more detailed information. So, under “Promote the General Welfare” I chose “Health”. It gives raw numbers on the spending in that area,

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Then I can click to find an even more detailed breakdown of health spending.

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This site looks to become a go-to for seekers of accurate, helpful information on how the U.S. government spends our tax money.

If you’re interested in further reading NPR did a article on this site that may be found here.

Oxford Research Encyclopedias

http://oxfordre.com/

If you are researching an unfamiliar topic and seek peer-reviewed material, the Oxford Research Encyclopedias may be a good resource.  From the site:

“The OREs offer long-form overview articles written and edited by leading scholars and researchers, addressing both foundational and cutting-edge topics across the major disciplines. Oxford University Press is developing this program in response to a growing need for reliable information to be used at the start of serious research on an unfamiliar topic.

Designed to inform academic research at all levels, the Oxford Research Encyclopedias will be a constantly growing and evolving reference source. Each subject goes beyond the basic facts to contextualize topics within existing scholarship and help pave the way to deeper engagement and inquiry.”

Several different subject areas are covered, from African History to Religion, and from the link above you search the topic on the right hand side of the site.  Once you choose a link you are directed to an entire site dedicated in great detail to the topic.  One drawback to the site is that some of the information may only be accessed via subscription, though there is some free content as well.

The Commercial and Financial Chronicle

https://fraser.stlouisfed.org/title/1339

The Commercial and Financial Chronicle is a weekly business newspaper from 1871 – 1935 (with several gaps in coverage). This is another source that will provide stock, bonds, commodities prices, and financial information for this time period (besides the Wall Street Journal). The newspaper is a part of the FRASER (Federal Reserve) Archive. This Archive includes other economic information including the history of economic issues up to the U.S. budget and economic viability today.

 

Amortization Calculator

http://www.calculator.net/amortization-calculator.html

From the site, “This amortization calculator gives out the annual or monthly amortization schedule of a one time fixed interest loan. This calculator also gives out the monthly payment and total interest to be paid.” Put the loan amount, loan term in years, and the interest rate (APR) into the calculator and it will calculate the above information. The site also gives the definition of what amortization means.

For a mortgage calculator, please click on this link.

MarketWatch

www.marketwatch.com

MarketWatch is an excellent stock information website from the Wall Street Journal. It provides comprehensive information on stocks and companies.

To use the site, type in the name of the company or stock symbol for which you are looking for in the search box. Once you have found the company, an overview of today’s share price and price per earning ratio will come up, along with a chart that shows the price changes by the hour. Other company news and press releases for the day are listed. There are other tabs under the company name that include:

Profile – gives a general overview of the company and its executives, along with its headquarters address and phone number.

Charts – under the Time button provides a daily, weekly, and monthly chart of the company’s stock price. The compare button underneath it on the same page will show an comparison of Indexes (S & P 500, Dow Jones, NASDAQ, commodities) and Industries (banks, health care, hotels, etc.) for the same time period you have chosen.

Financials – includes the earnings for the company per year, along with its gross income, net income, income tax paid, etc.

Historical Quotes – provides the historical quote for a stock going back to 1971 .  Just start typing in the date. A pop up box will show a calendar with the month and date. Just click which month and date you need to find out the high, low, and close of the stock.

Analyst Estimates, Options, and SEC Filings are more of the tabs that can be clicked to find out information on a company.

General buttons near the top of the home page include general news of the markets, along with investing and personal finance news.

Pew Research Center

http://pewresearch.org/

The Pew Research Center provides an unbiased view of different issues that shape America. From the site, ” The center conducts public opinion polling, demographic studies, media content analysis and other empirical social science research.” Besides trending issues of the day, the topic index shows information on demographics, the economy, technology, legal issues and other subjects.