Your boss sat you down and told you you did a fantastic job this year. Your performance has earned you a 3% raise.
Your paycheck is bigger. So why doesn’t it feel like it?
Because prices rose faster than your pay. Inflation over the past year was 3.4%. If you make $60,000, your raise was $1,800, but just keeping up with prices would have taken $2,040. You’re about $240 behind where you were last year. Your boss praised you and cut your pay in the same meeting.
That’s why October matters to me. It’s National Economic Education Month; it’s our chance to celebrate economic literacy and the work we do together to improve our understanding of economics. Economics is more than memorizing graphs and equations; it is understanding how changes in this complex economy impact you and how you can better advocate for your needs. It helps you anticipate what markets will do and prepare your family for the storm. When politicians, both Democrats and Republicans, make promises, you can analyze them for economic merit, not feelings. Economic understanding is critical for success in today’s economy.
At Decode Econ, we are fully committed to this mission. We believe economic literacy isn’t just for K-12 or college students; a strong understanding of economics supports business decisions, strengthens social initiatives, and informs policy design. It helps you become a better citizen.
Our goal is to help explain the economics behind your day-to-day events, the news, and how it all impacts you.
So here's my ask for October. Forward this to one teacher you know. Or reply with the one economic idea you wish someone had explained to you sooner. Let’s work together to improve economic literacy. Thank you for all the support and for being on this journey with us.