Darnell Daily | A Purpose Driven Life

Money Management Tips for Young People First and Foremost Be committed to making positive changes and taking control of your life. Remember, it's okay to take things one step at a time. Progress is progress, no matter how small. Keep pushing forward, and you'll see the results of your hard work. With that said, here are some steps to help you get started: 1. Understanding Income The first step in managing money is understanding where it comes from. Whether it's an allowance, a part-time job, or gifts, knowing your income helps plan your expenses. It's important to differentiate between gross income (total earnings) and net income (earnings after taxes). 2. Budgeting Create a budget to track your income and expenses and understand where your money goes. This will help you plan for savings and spending . Creating a budget is fundamental. A budget helps track income and expenses, ensuring that spending does not exceed earnings. Here are some steps to create a budget: Li...