Task2 - Lifestyle >> Managing Money

"Managing Money"

Many people spend money on things they don't need. Learning to manage money is one of the key aspects of adult life.

To what extent do you agree or disagree with this statement?

How, in your view, can people best learn to manage their money?

Money is a necessary evil, and effective management of money is critical for all people in the world today. In fact, while many people have low salaries, they can still enjoy a reasonable quality of life if they manage their incomes carefully.

As we move from childhood to our adult lives, we must accept more and more responsibilities. Proper financial management is one important area of adult responsibility. Not only must we pay for our daily living cost, but also save money for the future. Balancing our needs and apportioning our incomes to those needs requires a great deal of planning and skill. Decisions need to be made concerning the amounts of money that are allocated to food, accommodation and general living expenses.

To carefully manage our money, we must firstly live within our means. That is, we need to do what we can with what we have. For example, a teacher's salary will not allow for expensive sports cars and luxury hotels. Secondly, we should save a minimum of 10% of our income; regardless of circumstances. For instance, even if we have a desire to spend money on expensive luxury items, we should remember that it is very important to preserve some of our income for the future.

To conclude, it is my belief that money management should be taught to young people as they move into their adult lives. The financial advice discussed above can be given to young adults by their families or teachers before they engage in society's monetary system.