Handling Money

This passage discusses responsible ways to handle money.

Lexile Level: 1200L

Categories: People & Places

Before you can begin to manage your financial resources, you need to examine all of your income and all of your expenses so that you have a clear picture of what you have been doing with the money you have. First you will need to list every source of income. Include any money that you earn, as well as any money that is given to you on a regular basis. The second step is to list all of your regular expenses. Separate them into expenses that are absolutely necessary, such as living expenses, and expenses that are optional. You may need to examine your expenses carefully and with a critical eye to determine what is truly necessary and what can be eliminated. Once you have completed these lists, you should be able to see if you are managing your financial resources appropriately or if you need to make adjustments to the way you handle money.