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Jack Gong, OL73, July 28th
 Financial management is all about thinking
for the future and making the right choice to
invest or spend.
 We need to learn to plan wisely according to
your financial situation, your current
objectives and so on.
 Compound interest is interest on interest. It
is the result of reinvesting interest, rather
than paying it out, which can lead to a
“snowball”. Compound interest is standard in
finance and economics.
 This interesting phenomenon shows us that
we can let money work for us and accumulate
by itself if we invest wisely and invest as soon
as we can.
 Therefore budgeting is the key to smart
financing.
 A budget is a plan, an outline of your future
income and expenditures that you can use as
a guideline for spending and saving.
1. Add Up Your Income
 Make sure you include all sources of income
such as salaries, interest, pension, and any
other income sources.
 For teenagers, we usually have some type of
allowance from our parents, or even incomes
from part-time jobs.
2. Estimate Expenses
 The best way to do this is to keep track of
how much you spend each month. The first
step is to sum up just where — and how
much — you think you are spending.
 For teenagers, we really don’t need to cover
much expenses — maybe some on
entertainment. That’s why should focus on
saving up and preparing ourselves for a
better future.
3. Figure Out The Difference
 Once you’ve totaled up your monthly income
and your monthly expenses, subtract the
expense total from the income total to get
the difference. A positive number indicates
that you’re spending less than you earn –
congratulations! A negative number indicates
that your expenses are greater than your
income and gives you an idea of where you
need to trim expenses and by how much.

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Financial management

  • 1. Jack Gong, OL73, July 28th
  • 2.  Financial management is all about thinking for the future and making the right choice to invest or spend.  We need to learn to plan wisely according to your financial situation, your current objectives and so on.
  • 3.  Compound interest is interest on interest. It is the result of reinvesting interest, rather than paying it out, which can lead to a “snowball”. Compound interest is standard in finance and economics.  This interesting phenomenon shows us that we can let money work for us and accumulate by itself if we invest wisely and invest as soon as we can.
  • 4.  Therefore budgeting is the key to smart financing.  A budget is a plan, an outline of your future income and expenditures that you can use as a guideline for spending and saving.
  • 5. 1. Add Up Your Income  Make sure you include all sources of income such as salaries, interest, pension, and any other income sources.  For teenagers, we usually have some type of allowance from our parents, or even incomes from part-time jobs.
  • 6. 2. Estimate Expenses  The best way to do this is to keep track of how much you spend each month. The first step is to sum up just where — and how much — you think you are spending.  For teenagers, we really don’t need to cover much expenses — maybe some on entertainment. That’s why should focus on saving up and preparing ourselves for a better future.
  • 7. 3. Figure Out The Difference  Once you’ve totaled up your monthly income and your monthly expenses, subtract the expense total from the income total to get the difference. A positive number indicates that you’re spending less than you earn – congratulations! A negative number indicates that your expenses are greater than your income and gives you an idea of where you need to trim expenses and by how much.