This Week's Must Read

The Obama administration this week said it is delaying the enforcement of the Affordable Care Act’s mandate, extending until March 31 how long Americans can go without insurance before facing a penalty.

But how strict is the Affordable Care Act’s individual mandate to begin with? It’s a question that’s floated around since the mandate was first mentioned: Can the government – and more specifically, the IRS – really enforce the mandate penalty? The answer is yes, but only up to a point. Whichever political side of the ACA you are on, it is a technical question that’s piqued the curiosity of consumers and pundits alike.

Read the rest of the story

Financial literacy is an important, lifelong personal finance skill that everyone should have because it fosters careful spending and informed decision making. Responsible personal finance habits will guide you toward a life of financial freedom, and increasing your vocabulary of money words can only help. Here are five money definitions you should add to your financial literacy repertoire so you know how to get the most out of your money and financial decisions.

1. Credit Score

Your credit score impacts many facets of your life including getting a loan for a car or house and being approved for a credit card. Because a poor credit score can have such a negative impact on your life, it’s important that you frequently check your credit score. Experts recommend checking your credit report at least once a year to catch errors or identity theft.

Read the rest of the story.