Money Basics Guides | Penny & Plan

Money Basics What Is Financial Independence and How to Reach It Financial independence explained: the 25x rule, a savings-rate table, a worked example, and the US, UK and Canada rules that decide when you can spend it. 8 min read

Money Basics Needs vs Wants: How to Tell the Difference A three question test that sorts any purchase into needs or wants, a four tier ranking for tight months, and how the line shifts in the US, UK and Canada. 8 min read

Money Basics What Is a Recession and How to Prepare for One How recessions are actually declared in the US, UK and Canada, why the call always arrives late, and the runway maths that decides how hard one hits you. 8 min read

Money Basics What Is Inflation and How Does It Affect Your Money? Inflation is the rate your money loses buying power. Here is what it does to cash, wages, debt and tax thresholds in the US, UK and Canada, and what helps. 9 min read

Money Basics What Is Net Worth and How Do You Calculate It? Net worth is what you own minus what you owe. Here is the exact calculation, a full worked example, and how US, UK and Canadian balance sheets differ. 7 min read

Money Basics What Is Compound Interest? A Simple Guide With Examples Compound interest explained in plain English with real examples, why starting early matters so much, and how it works for and against you. 6 min read