Archive for the ‘Money Management’ Category

Money Management Skills are for Everyone

Monday, September 4, 2006

    

The skill that all people should master is money management. Individuals go through life not knowing how to manage their money. You might ask yourself, “Why should people possess these skills?” Simple, look around, see if you can find somebody that is in poverty, and you won’t have to look very far. When individuals possess money management skills they can provide themselves with a number of ways to improve the quality of life and maybe even pass those skills on to somebody who needs them.

          People who do not have the skill of money management tend to put themselves in an unhealthy state of life. When a financial crunch occurs people can expect themselves to be looking at possible lawsuits, payroll garnishment, and a constant stream of creditors harassing the individual by phone or mail. These events then make the person stress out, and in turn could lead to the loss of things that they dearly cherish in life. Though, budgeting can prevent this.

     A person who knows about money management will be able to avoid putting him or her self in a financial burden. When people don’t budget they make mistakes of spending too much money and not saving enough. By saving money they prepare themselves for (more…)