Importance Of Money Management

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Chapter 1
Importance of Money Management and Jars as Effective Money-Saving Method
We all know money is an important commodity in our lives. Money can help us decide what we can do or not do, or where we can go. However these days, it is a sad fact that most people’s income barely make ends meet. Some people even struggle to keep up with the bills or at least buy decent clothing. Ultimately, we all want a better life which means for most, a better house or lesser worries financial worries. We cannot achieve such comfort in life if we do not have money.

We need to manage money as a valuable resource by having a clear understanding of where it is coming from and where it is going. Doing so is called money management. Money management
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Most often, people lose control and usually money coming in is not enough. For some people, the task of managing money may seem like a distant goal. They all reason out that since money is scarce for them, there is no money to budget and manage in the first place. They say they would save money in the future – that it is something they want to do if and only if they have the time and more money. This rationale makes people think that saving money may be an impossible dream or an arduous undertaking. Good news is that money management is a skill therefore, it can be learned. And it is not actually difficult, contrary to what some people may think – just like learning how to drive a car. With this, an easy money management method that you can use is the Jars…show more content…
For instance, poor people believe that it’s all about income and that one must earn a fortune first before getting rich. This thinking has become a major drawback to many because if in the first place, you mismanage your money, you cannot become financially secure even if you live on a huge income. Look at high-income professionals like athletes, doctors, lawyers, accountants – why are they basically broke? The simple reason is that it’s not about the amount of money that goes in; it’s about what you do with it. While poor people care less about money management, rich people are noted to be excellent managers of their
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