Page 2...........................................About Me / Intro
Page 4...........................................Budgeting
Page 7...........................................Banking
Page 10.........................................Insurance
Page 12.........................................Loans & Interest
Page 13.........................................Debt
Page 14.........................................Investing
Page 16.........................................Retirement
Table Of Contents

Currently I am a senior enrolled in the Financing pathway at Middletown High School. Not every student takes a financing course like me though so that is why I am making this book, to teach people my age a little something about financing. Obviously people know that financing and saving money is important, but it's harder to do than it sounds. In the world we live in money is anything and everything. The more money you have the more successful you’ll be. As a kid you probably don’t earn much money except maybe gifts from birthdays or holidays or chores.
About Me / Intro
When you grow up into adulthood you have to learn how to handle jobs and your financing. This book will teach you some of the basics that everybody is going to need to learn and know how to use them effectively.
Budgeting
A budget is what’s going to make sure you always have money ready, You could create a budget for many reasons, some reasons are “finding a way to save more money, reducing overspending on problem areas, ending fights about money for couples, making sure your spending reflects your goals and values, breaking the paycheck-to-paycheck cycle, avoiding spending money you don't have, getting out of debt, staying on track toward long-term financial goals.” (Bieber, 2018). Basically budgeting will help you save money for any problem that will come your way. If you do have a problem and you need to start saving money, first you need to write down EVERYTHING.
Anything related to income and outcome you must write it down into a personal spreadsheet for about a month. This will tell you how much money you are spending and how much you are earning. This is essential in saving money because it tells you how much money you are spending on individual items, like food, rent, phone, clothing, etc. You also need to think of what you want to save, this will help you decide how much of you money is going towards needs, wants, and savings. There is a budget called a 50-30-20 budget. This means that “50% of income is allocated toward needs,
such as rent, food, and minimum payments on debt. Thirty percent is earmarked for wants, such as trips or entertainment. Finally, 20% goes toward savings.” This is a proven strategy to work for most people trying to save money. Once you set up the budget that is right for you set up a monthly budget review. This will let you review how your budget performed. If you are happy with your results then your budget is fine. If you are unhappy, try creating a different budget and a different combination of money towards needs, wants, and savings.
Banking
Banking is probably one of the most important topics that you need to learn about. When you first open an account at a bank you will open a checking account. This account lets you take money out of an ATM whenever you want to, lets you write checks, and lets you deposit and withdrawal as many times as you desire. This will be the bank account you use to purchase most of your items. The other type of bank account is a savings account. You use a savings account to save up your money, all extra money not going towards needs and wants can go towards your savings account. A savings account earns interest for
money being in it, however there are limits to withdrawal and deposits for savings accounts, so only use them to deposit money for saving, hence the name. Everybody needs a trustworthy bank, these banks help keep your money safe. If you always kept your money at your home then you are likely to lose severely more in the event of a home invasion, or a house fire or flood. You want your bank to be convenient to you. For example, picking a bank you live close to would not be a bad idea, or a bank known for their trustworthiness. Nowadays, most banks have online banking, meaning less trips to
the bank and making it more convenient for you. The most important thing for a bank is its trustworthiness, they’re the ones holding all your money. You are going to have to do your own research to figure out which bank and which accounts the bank has to offer best suit your needs.
Insurance
Insurance is going to be one of the most important things you pay for. Insurance is basically a protection plan that you pay for every month. You need insurance for your health, car, home, property, everything really. You come to an agreement with an insurance company and you pay monthly or yearly for their protection. If you don’t have insurance and you get hurt or get in a car accident, it will cost a lot more money that comes out of your pocket, as opposed to the insurance company paying it. Although if you do get into a car crash or get hurt, your insurance rates will most likely raise by at
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Page 2...........................................About Me / Intro
Page 4...........................................Budgeting
Page 7...........................................Banking
Page 10.........................................Insurance
Page 12.........................................Loans & Interest
Page 13.........................................Debt
Page 14.........................................Investing
Page 16.........................................Retirement
Table Of Contents

Currently I am a senior enrolled in the Financing pathway at Middletown High School. Not every student takes a financing course like me though so that is why I am making this book, to teach people my age a little something about financing. Obviously people know that financing and saving money is important, but it's harder to do than it sounds. In the world we live in money is anything and everything. The more money you have the more successful you’ll be. As a kid you probably don’t earn much money except maybe gifts from birthdays or holidays or chores.
About Me / Intro
When you grow up into adulthood you have to learn how to handle jobs and your financing. This book will teach you some of the basics that everybody is going to need to learn and know how to use them effectively.
Budgeting
A budget is what’s going to make sure you always have money ready, You could create a budget for many reasons, some reasons are “finding a way to save more money, reducing overspending on problem areas, ending fights about money for couples, making sure your spending reflects your goals and values, breaking the paycheck-to-paycheck cycle, avoiding spending money you don't have, getting out of debt, staying on track toward long-term financial goals.” (Bieber, 2018). Basically budgeting will help you save money for any problem that will come your way. If you do have a problem and you need to start saving money, first you need to write down EVERYTHING.
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