Money is just one tool to help you solve problems and/or get the things you need and some of the things you want. Your time, your energy, and your natural skills are also resources you can use for solving problems, meeting needs, and accomplishing wants. You are in the driver's seat. You can decide how to use these resources of time, energy, skills, and money to reach your goals.
You don't always need money. Sometimes you might trade something you have or can do with someone else. This is called barter. For example, you might have a CD you are tired of listening too and want to trade it with a friend for a T-shirt they don't want, but you like a lot. You both get something you want without spending money. If you are good at dancing or playing a sport, you might teach someone else in exchange for something that person can do that you would like to learn. You may also be able to exchange household chores with brothers and sisters or friends.
Being honest and fair with all your exchanges is a basic value that all people should live by. Ethics are standards or principles for making right choices and decisions. Having a strong sense of right and wrong will guide your decisions well and lead to you having a good reputation.
Knowing yourself is an important key in learning how to manage money and other resources to achieve your goals. Learning to manage all your resources well is a skill that will help you express your unique style. The activities, case studies, quizzes, and vocabulary in this unit will help you discover your preferences and learn how people with different values and resources make money decisions.
Here are four guidelines to help you improve your money management:
1) First, think about what you want your money to do for you. What is important to you? How can money help you satisfy your needs and desires?
2) Then, find out how you spend your money by keeping track of your income and expenses.
3) Now, evaluate your current money management. Is your money working for you the way you'd like it to? If not, develop a plan to change your spending patterns.
4) Finally, stick to your plan and try managing your money in a way that works for you.