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You work hard for your money, so it’s important to know exactly how much you’re earning. April is Financial Literacy Month, making now a great time to take a closer look at your paycheck.
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Earning is one of the five key principles of financial literacy — along with saving and investing, spending, borrowing and protecting — according to the Financial Literacy and Education Commission. In fact, you can’t save and invest, spend or protect your money until you earn it — and in most cases, borrow money, unless you have a source of income — making it a central focus.
As of February 2022, 60% of the U.S. population is employed, according to seasonally adjusted data from the Bureau of Labor Statistics. That same month, seasonally adjusted earnings for all employees on private nonfarm payrolls averaged $1,095.83 per week.
Clearly, plenty of people are earning regular paychecks, but that doesn’t mean they know exactly how much they’re taking home. It’s important to understand this number, so you can create a budget that supports your financial goals.
Want to learn more about the state of your earnings and how to make more? GOBankingRates offers plenty of guidance to help you get started.
Here’s a guide on what you need to know about earning:
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