This week has mainly been about budgets and managing bank accounts. We learned that it's important to create a monthly budget for ourselves to help us manage our money and avoid overspending. In order to create a budget, we must pay yourself first, meaning the savings, then, list all our income resources and then our expenses. (Usually, the expenses is a much more detailed list than the income D:) The two then should equal each other at the end, more or less. These past days have, again, been vitally important for our future, as we are learning to make our money work for us. We are learning of ways to obtain more money than we had at the beginning, simply by leaving it alone in a secured bank account. So, the morale of the story is, pay yourself first, and keep yourself, and your money, well-organized.
First, I just want to say that I love the little cartoon. The tissue box is such a good representation of what happens when people go out of their budget. You did a very good job at summing up how a budget is essential for people to not overspend and make the most out of what they are earning. I agree that these lessons are very important for the rest of our lives and I would go so far as to say that we should start implementing these ideas starting now.
ReplyDeleteI like your summary of what we should do in order to save our money! I agree with all of these that you mentioned here. I also think that this lesson is really important for our future. I don't really think about saving my money for future, but I think I should start thinking about it.
ReplyDelete"Pay yourself first" is a very important key to budgeting. You make all that money so you have to reward yourself; even though the money is going into savings that money will be a great reward one day. Always remember to take care of yourself before you worry bout other things that need attention.
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