Money Management 101
Every penny counts!

Most people want to be financially responsible but I have learned that most people don't know where to begin when it comes to personal finance management.

With all of the technology available to us, it is easy to think that it is impossible to live without all the bells and whistles that cost a lot of money. It is easy to be envious of those who always seem to purchase the latest toys, gizmos and gadgets, thinking that they are somehow living better because they have more.

The truth is that the grass is not always greener on the other side of the fence. Getting back to basics, having the courage to say no to unnecessary frills and recognizing that it is not what you have, but what you do with what you have that will lead you to happiness and financial freedom.

We live in a world consumed with being better and having more. Unknowingly, we are teaching our children to expect rather than to earn. In other words, we are spoiling them rotten.

I am lucky. My mother believes firmly in financial responsibility and she made sure that she started teaching me, at an early age, how to manage money.

When I was 14 years old I thought my mother was awful. I couldn't believe that she actually made me get a job! If that wasn't bad enough, she made me put the majority of my earnings into a savings account and made me responsible for purchasing my own lip gloss and nail polish.

Today, I could not be more thankful for the financial skills my mother taught me. I will try my best to pass them on to my son and I would love to share them with you here.

Money management does not have to be tedious.

In fact, managing money can actually be quite simple if you don't over-complicate it. Your personal financial plan should consist of three basic steps:

• Create a budget and stick to it. You don't need to be a mathematical whiz to create a household budget. I will show you a method so easy your kids could do it!

• Avoid debt at all costs. Learn about the different kinds of debt and how to work towards being in control of all of it.

• Save money whenever possible. Learn how to find bargains and pinch pennies to create money where there is none.

Also, learn how to develop and follow your own personal Money Management Game Plan and enjoy financial freedom in just 9 easy steps.

Start making your money work for you! Learn these easy money management skills and then teach them to your children.