Personal Financial Management
Chapter 3
Personal FInancial Management
Definition: Controlling your income and expenses.
Income: The money you have coming into your household.
Expenses: The money coming out, for bills, gas, ect.
Why is it important to manage your finances?
Managing your finances helps you stay out of debt and helpes you in planning for the future or unexpected events.
How this helps me:
This helps me become more employable because having stable finances will make me look responsible and shows others that I work well with money.
Managing money
Keep in mind the past, present and the future when managing your money.
Income
Keep an eye out for what's being taken out of your paychecks.
Debt
Managing your money will help you slowly come out of debt. Or keep your from going into debt.
Connections:
Chapter 3 and Chapter 4: Being able to have your finances under control helps with your stress levels because you don't need to worry about being in debt and working for many years just to get out of debt.