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Information: Money, budgeting
Not many people like to be careful with money. People are often savers, or spenders. Credit cards allow spending, and a lot of people are in debt all their lives. Whether you are a saver or spender depends on you, and how your friends and family deal with money.

Parents can have an influence on your spending habits by:-
  • Encouraging saving
  • Spending all the time, as soon as they have money, or have paid off some debts.
  • People in debt can get stressed out about it, or lose things, like their home, car, other possessions and things.
    Advice
    If you have a problem, first ask people who seem to manage their money how they do it, this might be a friend, parent or someone at work.

    People who manage money well often divide things up into:-
  • Essentials (food, house, electricity, water, basic clothes)
  • Luxuries (a wish list)


  • They often do the following:-
  • They avoid high interest rates (credit card loans, and other high interest loan companies)
  • They may alter their lifestyle, (limiting how much money they take with them when they go out, not buying designer clothes all the time, not going on holiday)
  • They may save a bit each week, sometimes for years, to get to the point of affording something.
  • They may balance up their money, how much they earn, and how much they spend each week.
  • They may ask someone else to manage their money, (get paid weekly, instead of monthly, or get their allowance from their parents each day, instead of once a week).
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