How your vote impacts your bank account

No matter if it is a larger scale like a presidential election or smaller local election, it is every American’s civic duty to vote. Not only does every vote matter, but voting impacts everything, especially your bank account.

In this week’s episode of Money Glow Up, our host Tiffany Aliche speaks to New Jersey State Sen. Angela V. McKnight, a Democrat, about the importance of voting, and how participating in elections can directly impact your bottom line.

“Voting has a huge impact on your bank account,” Sen. McKnight says.

By casting your vote in elections, you have the potential to elect officials who can enact legislation that affects things like the federal minimum wage rate, student loan debt forgiveness, home values, and many other things that could impact the amount of money in your pocket. If loans are forgiven, or the minimum wage gets lifted, that’s more money directly in your pocket that you can put towards other areas in your life.

Your ability to enact change on a political level that impacts your own finances can extend beyond voting in elections, too. It’s possible to work with elected officials to help pass legislation, much like Aliche did with her “Budgetnista” law, or you can even run for office yourself! Your voice matters, and by voting and getting involved in politics, you can make a difference to your life, your community, and your bottom line.

Together with Yahoo Finance, Tiffany Alice creates a space to share real and inspiring money stories, learn financial fundamentals, and build your future. Step into the classroom with Money Glow Up every Thursday at 12pm ET with Tiffany Aliche —aka The Budgetnista—to jump-start your financial journey.

Have a money story of your own? Questions? Fan mail? Email us at yfpodcasts@yahooinc.com.

Find this episode's transcripts and more episodes of Money Glow Up at http://finance.yahoo.com/videos/series/money-glow-up/.

Yahoo Finance's Money Glow Up is hosted by Tiffany Aliche, and produced by Lauren Pokedoff