Why consider learning personal money management skills?
What is personal money management? It is simply using your personal resources in a manner that allows you to make positive choices in how you live your life with a goal in mind.
One of the most important and basic skills an individual can develop is how to communicate with parents and partners about money values and goals. Consider the following statements: One of the major challenges facing individuals and couples is managing money. National statistics show that as many as 70 percent of divorcing couples attribute the breakdown of their marriage to arguments about money. New national bankruptcy laws are harsher and more demanding of payment than forgiveness of debt. Poor credit limits your opportunities and choices in life. It may also limit your ability to work in particular career choices. Learning to manage your money is a serious matter that deserves your mature, wise consideration.
Good money management skills allow opportunities to:
- Gain important knowledge about yourself by examining your value system.
- Learn that you get to make the choices that make your life what you want it to be.
- Learn new ways to save money to buy a car, or computer, or take a trip.
- Learn how to protect yourself against personal and financial loss. Develop an “I quit” fund that allows you to quit a job you don't like.
- Learn what “credit” really means.
- Learn how to protect your identity.
- Learn the best way to avoid interest charges.
- Learn the best ways to increase your assets.
Personal Money Management tools are abundant on the internet. Many are free and are developed as a public service. We do not recommend that you use sites that require you pay for these services. Please review these money management web sites for helpful information.
Money Management Web Sites
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- I think I’d like to be a millionaire!
- Young Money resources
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