Money Managment Guide

By: Aldaysha Johnson

Depository Institutions

Its a safe place to store money, and a way to manage you money. Depository Institutions give you the opportunity to earn interest. The services and features offered and the fees charged may vary depending on which depository institution you choose

Taxes!

Taxes: Are a sum of money demanded by a government to support the government itself, as well as the specific facilities or services.
Taxes are paid by TAXPAYERS!

Your present self impacts your future self!!

YOUR PRESENT SELF AFFECTS YOUR FUTURE SELF!!!

Statement of Financial Posititon

Statement of Financial Position: Describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worth.
  • Net worth is your "financial thermometer" to objectively measure your financial position
  • Assets - Liabilities = Net Worth

Importance of a Spending Plan?

Its important to have a spending plan because, it helps you manage you money in a successful way. Also, keeping track of the money you spend and save is always beneficial.