Week 3 AEC Blog

What i know about money management:

It is about knowing how to handle the money we have earned such as saving, spending and investing.

What i want to know about money management:

I want to know the proper way of handling my money and what i should not do with my money.

i want to learn how to spend my money wisely.

What i have learnt about money management:

I learnt the meaning of Inflation and how it can affect us negatively in the long run as we will need to spend more money to purchased the goods that we once had spent less on in previous years.

I learnt about the tax rates and how it will affect us individually depending on how much we earn as we will have to pay more taxes if we earn more.

I learnt that success can be interpreted differently depending on how WE define success.It does not always have to be about earning lots of money and to be rich.

I learnt that investing can be more useful in getting extra income, rather than putting all of our money in the bank, as the interest rate is much lower than investing in big companies and corporations.

The slides and videos have encouraged, and taught me how to spend my money wisely such as purchasing things that i need rather than what i want. This is important as it helps us safe more money for our future.

 

 

 

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