One of the keys to a sound financial strategy is spending less than you take in, and then finding a way to put your excess to work. A money management approach involves creating budgets to understand and make decisions about where your money is going. It also involves knowing where you may be able to put your excess cash to work.
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Were you raised with the money taboo? Many people are taught from a young age not to speak openly and honestly about money, even with their loved ones. This might not seem like a big deal, but the money taboo has real consequences.
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“Wherever you go, there you are” is a classic reminder to live consciously and fully in each moment. In terms of financial confidence and well-being for young adults, that advice makes excellent sense as well.
Money is a central part of everyday life as an adult. We spend time most days earning it, we need it for survival, and we want it for fun and entertainment.
Responsible money management is often a foreign concept to teens that is complicated and confusing. Yet, if they learn how to save and be financially responsible early, they can protect themselves in the future.
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