Sunday, 24 April 2011 21:14
by
Jacki
Financial education is a lifelong skill that everyone needs. It’s important to learn about money at an early age. One great way to learn is by understanding the Three Money Principles of Spend, Save, and Share.
Spend
Prioritize items that you want to buy. Find out how much they cost and set a plan on how you will get enough money to afford the items. Set aside money just for spending from either your allowance or extra work like babysitting or mowing lawns.
Save
In the same manner that you set aside money to spend it, you’ll want to set aside money to save. While spending is something you want rather quickly, saving is for things much further down the road like saving for college, a car, or a home.
Share
Go online and look at different charities. What cause are you most interested in: animals, illness, or church? Set aside money to share with the cause or group you decide upon.
FORUM gives all Aware account holders a Moonjar, a piggybank that has three compartments for saving, spending, and sharing. Visit your local FORUM branch to get a Moonjar.
What do you think of the Spend, Save, and Share concept?
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