Although it is really just an exchange, money matters. Everybody accepted it as a payment method, or a method of exchange. A long time ago people used to use coins made of precious metals, like gold, silver or copper. Every coin used to have a value of those metals. Anyway, it was not very practical, because you could take a few bits whenever you felt like it.
Most people are living from their income. It is a result of their work. Some have different sources of an additional income, like investments. Your pension is also the income you have earned working, and you can earn some money by selling inherited goods, for example.
There are so many ways for spending any amount of cash. You just cannot have too much. If you live on your wages, you have all sorts of monthly bills to take care of. Rent, mortgage, gas, insurance, food, clothes and many more. Everything you want you have to pay for.
The majority of your money is spent for running a home. It doesn’t matter if you have to pay a mortgage loan or a rent. Electricity, water and gas bills, telephone and cable TV bills, the list seems to be endless. You must also pay for local services, and there are some insurance expenses.
Having a bank account is the best way to keep tracks. Besides, it is safer than to be a sitting target for all kinds of thieves. This way you will be able to manage your expenses. You could open a saving account and try to put a little something there, too.
Everybody knows you cannot spend what you don’t have. And still, everybody does. Sometimes they cannot help it, because some unexpected expenses may appear. Smart people do keep a reserve for such occasions, just in case.
So, among other things, you spend your cash on your accommodation expenses, rent or mortgage, doesn’t matter. You must pay monthly bills for electricity, telephone, gas, Internet, cable and some other stuff. You spend some on food, entertainment and social life. Children, insurance, gifts, holidays, well, it’s a long list.
The basic thing about good budgeting is to pay the important bills first. You have to live somewhere, to eat something and to enjoy some essential things in life, like electricity. It would be difficult to live without it. Another thing you just have to pay is the insurance, because you never know what can happen. Clever planning is the key, and money matters, always.
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