The document discusses the important role that money plays in people's lives and societies. It touches on how money enables the exchange of goods and services between individuals. The document also reflects on common attitudes and excuses people have around money management, such as procrastination or feeling like they don't have enough money. It stresses that financial independence requires dedication, hard work, and developing strong money management skills over time.

1. Me & My Money A first look

2. Money plays a major role in all our lives. Workers earn it, Spendthrifts burn it, Bankers lend it, Women spend it, Forgers fake it, Taxes take it, Dying leave it, Heirs receive it, Thrifty save it, Misers crave it, Robbers seize it, Rich increase it, Gamblers lose it, I could use it! (by Richard Armour)

3. What is money? Most people don’t spend much time wondering what money is, their major concern is how much they have, and how to get more.

4. What is money? Money is a “medium of exchange”. Without money, the production and exchange of anything but the most basic goods and services is IMPOSSIBLE .

5. What does money do? Human beings must exchange goods and services to live together in peace and to prosper. Money ensures the success of EXCHANGE because it is the one thing on offer that is ALWAYS acceptable.

6. It is therefore vital to understand the role the money plays in your life by reflecting on your current situation.

7. “ To help yourself is to know yourself” Think carefully about these 2 questions: Am I in control of my money? Do I manage my money WISELY?

8. Reflections: Is this you? I don’t know where the money goes…it just goes. I mean to save, I do…perhaps when I have more money. No, I don’t have a plan. I budget sometimes. I budget when I can afford to. Budgeting will take too long and I need solutions NOW. I will save…soon. My money is not my own. My money isn’t only about me! They always want more money. I don’t know where to start. I feel like it’s too late for me. I just need more money and everything will be great. Times are hard, everything is against me…what is the point?

9. Wouldn’t it be great to win the lottery or inherit a fortune and suddenly have enough money to pay off all your debts and enjoy being rich for the rest of your life?

10. Having a lot of money does not end money worries. Even millionaires need to know how to manage money . Money Management Skills and good practices are needed no matter how much or how little one has.

11. Procrastination affects planning (eg. ‘ I’ll budget next time… next week..next month.. next year .’) Time is money. Lack of financial goals Ignorant of how money works and how it can work for them. Why do people fail to achieve financial independence?

12. Without Financial Independence you are a slave to money.

13. Achieving financial independence will take time , dedication and lots of hard work but it will be worth it in the end . Nearly everyone was the ability to be successful but very few have the desire and commitment to make the sacrifices necessary to achieve wealth and a better quality of life .

14. Getting out of debt and securing your financial future is no exception . This requires dedication, perseverance and the know-how to manage your money to the best of your ability.

15. Let’s start on the journey to understanding your personal financial situation. Kindly fill out the three templates attached & re-submit to your tutor. Looking forward to hearing from you!