Financial Literacy in 100 Seconds
Imagine you have some money, let’s say $10.
So, let’s say you have some things you really want to buy, like a toy or a video game.
But you also have other important things you need to spend money on.
Like snacks, school supplies, or saving some money for later.
Now you do Budgeting. Great.
Write down all the things you want or need to spend your money on. For example, snacks, toys, books, or saving for something special.
Decide which things are most important to you.
Let’s say you decide to spend $5 on the toy, $2 on snacks, $2 on saving for something special, and $1 on books.
When you go to the store or have a chance to spend your money.
Stick to the plan. Alright.
You can always Save your money. Saving is a good habit.
It is like saving your game, for you to play again tomorrow.
Life always have save game, good things is only smart and wise person always save their life game. It looks like you.
Investing is like planting seeds to grow a garden, but instead of seeds, you use money.
You plan your money with other people, your friend and person you like to do business with. Remember choose based on Loyalty and Trust.
Long-term thinking. Investing is not about quick and immediate gains.
It’s about thinking long-term and planning for the future.
Managing debt is like taking care of a big pile of toys you borrowed from your friends.
When you borrow toys, you have to make sure you take good care of them and return them on time.
Debt is similar, but instead of toys. It’s when you borrow money from someone or a bank.
And you have to be responsible for paying it back.
BONUS: Retirement planning is like preparing for a really long vacation when you’re all grown up.
Most people don’t have retirement planning, if you do. You are great. Life will be more much exciting for you.
It’s about making sure you have enough money saved up to enjoy your life after you stop working.
Note: Aspects of personal finance, such as budgeting, saving, investing, and managing debt.
