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Making, Saving, and
Spending Money
By Shelby
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Do you have to ask your parents for everything? If you do, you can stop. Try to make your own money. Here are some steps! You can work and get an income.
One way you can get this is
by
helping around the house to get the income of an allowance. You could also
put up a
Grownups get their money by working for it. Some adults work at businesses or for the government. Some even have their own businesses. A person who works for someone else is called an employee. The company or place that the employee works is called the employer. The employer pays a salary to the worker. What kind of job will you have some day? Once you have made your money you can do what you want, right? Wrong! Making money is
just one step in the money process. Next, instead of spending all your
money, you may want to save it. Most people spend their money on the
things they need (like food and clothes) or on things they want
(like toys and games). But you can also save your money in a piggy bank or a bank account. You can make a
budget for your money to help you plan for saving some of it.
In a budget, you keep a record of the money you earn and the money you
spend. It will help you make sure you don't spend more than you
earn! Did you know that businesses and governments have budgets?
They try to make sure they balance their budgets. When you balance
your budget, you make sure the money being spent is equal or less than the
money coming in. Another way to save money is instead of buying everything at a store, think of ways you could make items at home by recycling things such as light bulbs, paper products, cardboard, and anything you might otherwise just throw away. After you save your money you can spend it. Spending may seem easy, but
you've got to be careful. First of all, you can’t spend more than you have, so you have to know how much you have and how much you want to
spend. Remember, you might not want to Citations Book
Images Images of walking penny, recycle, and women shopping from "Microsoft Office Online" <http://office.microsoft.com/clipart/default.aspx?cag=1> Images free for non-profit and personal use. (October-February, 2003-2004). Glossary Income
- The money a person gets from salary, wages, and other sources. Return |Basic World Economy | Types of Economies | Money Around the World |Free Enterprise| Supply and Demand| Depression and Recession| Coins and Minting| Paper Money| Protecting Money | Making, Saving, and Spending Money| Banking and Checking Accounts| Federal Reserve and Taxes| Counterfeiting| The Stock Market and New York Stock Exchange| |
lemonade or food stand
and get the income of . . . well
spend all of your money.
You will probably want to save some. An idea to help
you see how much you can spend is to make a chart. Write down how much money you have, how much you want to spend, and what you want to
spend it on. After looking at your chart you are ready for the final
step . . . go shopping!