8th Period: Conclusion – Napkin Finance

8th Period: Conclusion

By now, hopefully you’re feeling a bit more confident not only in your financial expertise but also in your ability to tackle money decisions when they come up in the real world.

Just remember that your financial life (and financial knowledge) will always be a work in progress. But with a little planning and research—plus a lot of common sense—you should be able to take on whatever new money questions come your way.

Key takeaways

  • Money gives you the freedom to make decisions about how you want to live your life and also provides security to you and those you love.
  • Making smart financial decisions is an ongoing process that you’re already starting on.
  • You can earn money by working at a job, or you might also get money from a gift, an allowance, or an investment.
  • Entrepreneurs can make a lot of money by coming up with a good idea and putting a ton of effort behind it.
  • There are four basic ways to use your money: you can save it, spend it, invest it, or give it away.
  • Some people make money through stocks, bonds, and other types of investments, but you first need to have the money to put toward these.
  • One crucial aspect of good money management is making sure you aren’t spending too much. Practicing using a budget can help you understand how much you’re taking in and spending.
  • Smart money management also means being extra careful anytime you’re considering taking on debt—whether spending on a credit card; taking on a large loan, like for college or a car; or even borrowing from a friend.
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The simple information you need
to clean up your not-so-simple finances.