Personal Finance Is Your Responsibility
Whether or not you choose to ignore it, you cannot deny
the truth embedded in this statement: Your
personal finance is and always will be your
When it comes to finance, many people put an
impractical blind eye to the fact that finances need
to be managed. Personal finance is an ever-growing
popular term for adults and teenagers alike, regardless
of whether you are earning the money or not. After-all
bills have to be paid, family members have to be fed and
your lifestyle has to be maintained.
The biggest and most neglected step for many families is
teaching their teens how to manage their money. Teenage
finance is about educating teens on the value of money.
Teach them how to save by showing them how to use their
primitive form of book-keeping. This can often be
incorporated through the child’s upbringing via
piggy-banks, savings accounts, and little chores in
exchange for money.
Teenage finance is an important part of your personal
finance because, too. When your children learn
to save and use money wisely, you are subsequently
saved from bailing them out of financial troubles
in the future.
Personal Ethics and finance go hand-in-hand; if
you have a good relationship with yourself, you will be
able to save money. You won’t feel the urge to do things
that go against your ethics like sign-up for a credit card
using someone else’s name.
Personal finance involves taking a few steps toward safe-
guarding your money. Your money spent should not exceed Your
money received. In order to prevent this from happening,
you should make a crude balance sheet and use it to
record all of your transactions.
Each month write down how much was received and how much
was spent. Make a list of all the things the money was
spent on, so you can keep track of your money.
You will be amazed at how much we spend on things that
are not necessities.
Make a list and stick to it. Always try to get the best deal
for your money and remember that cheaper does not necessarily
mean lower quality.
After-all it is your money; managing your personal
finances should be seen as a mandatory part of making
money work for you.