Monday, January 21, 2008

Principles of Personal Finance

Saving money- denying what you want now, for something you want even more, later on.
Communication- to budget in a family is for the mother and father to communicate to come to agreement on how money is to be used
Living within your means- learning how to avoid debt by planning out how to using finite economic resources to satisfy all needs and some wants.
Self control- we gain power as we set limits over our wants and desires and live by them.
Goal Setting- to budget is to set a goal, work towards it with smaller accomplishable goals to achieve a larger goal