The ability to manage one's personal finances helps a person to create wealth, meet financial goals, maintain a healthy attitude towards debt, save money for various reasons, as well as create and stick to a budget.
Having an understanding of personal finances will give your kids confidence with money, an understanding of how money works, an understanding of how to invest money, the ability to buy items they want with their own savings, an understanding of where money comes from as well as the ability to control their financial outlook.
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