25 Money Management Tips for Young People
13. Know where you spend your Money
It sounds pretty simple, but a huge money management tip for a young person is to actually know where their money goes on a daily and monthly basis. An initial goal for more people is to ensure that their expenses are not exceeding the total amount of money that they make each month through the formation and maintenance of a budget. This is usually when the young person realizes that his or her $5 or $6 Starbucks each morning adds up over the course of the week and month. By really tracking and managing the daily expenses one can make a big impact when it comes to the individual’s overall bottom-line.
