Managing Money

Managing Money — page 1 — Oneu Sense Money it makes sense to know about it People use money and think about it every day How much money does this cost Do I have enough money to buy that Should I save my money for something All of the answers to these questions relate to understanding how money works Money Matters Like it or not money matters It matters whether people have a lot of money or just a little How much money people have and how they manage their money both affect the life choices they can make A decision today such as saving money or spending it can affect what they can do months and years from now Asking yourself What does having money let me do can help you develop good money sense Money is a form of energy that tends to make us more of who we already are whether it's greedy or loving Dan Millman athlete and author

Managing Money — page 2 — N Money anagin Managing money is a crucial life skill Being able to manage money can help people avoid problems with money throughout their lives Start with Simple Rules Successful money management can be achieved by following a few simple rules of financial literacy Spend less than you earn Save or invest part of everything you get The sooner you start growing your money the easier it is to make a lot of it Money itself is neither good nor bad what is good or bad is what you do with it If people understand these rules they can begin to manage their money well They do not even have to be good with numbers Financial Literacy Financial literacy means understanding finances and having the ability to make good decisions about managing money Like reading and writing literacy financial literacy is an important skill for life Saving money is one of the simple rules of good money

Managing Money — page 3 — arnNIG SNONEY Before people can manage their money they have to learn how to get it Money that people earn is called income As people become adults their need to earn money increases There are three main ways people earn money working in a job having a business and making investments Allowances When people are young and not yet old enough to get a job their main income may be an allowance from their parents Sometimes this is in return for doing certain chores for the family Some parents provide their children with an allowance so they can learn how to handle money There is no correct amount for an allowance it depends on the family's circumstances Responsibilities Versus Paid Tasks Receiving an allowance from their parents can help them start developing good money management skills It is important to realize that you do not need to be paid for everything you do Some things have to be done because they are your responsibility as part of a family or a

Managing Money — page 4 — Working in a Job A job is where someone pays another person to do work Basically the person is selling his or her time and skills the person gets money for spending his or her time at that job and for performing certain tasks While there is some freedom the person is generally required to do what the boss wants the person to do Jobs for Young People Most young people begin in jobs that do not require much previous experience or training These are called entry level jobs Restaurant jobs and laboring jobs are popular entry level jobs because the tasks and skills involved can be learned on the job An entry level job such as working at a supermarket is a great way to start earning money

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