The Importance Of Money Management

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Money management is a key trait in order to having a strong, orderly household. What is money management? Money management provides the understanding of the amount you make off of your career, and to divide that by how much your payments expect you to pay. Life isn’t free or cheap in this world. So, you need to reserve money for car payments, electricity, gas, heat, etc. Being able to find a stable career that could pay for all of those needs, and then some to live with leisure, I would consider to be very important. Money, is a way to live in this world. Without it, your considered by society and banks, utterly useless. The world doesn’t want you to stay, you have to fight the world to stay.

Now, money is a very controversial topic. Although I’m not talking about why it shouldn’t/should exist, I’m talking about how money just is, and how to survive “the system.” How it’s important to manage your money, and to stay on track as best as you possibly can. In order for your household not to hold any burdening weight, keeping your payments together and up-to-date is essential. Having well-paying careers and doing well in school to attain such a thing, is not to be taken lightly, or treated carelessly. Otherwise, certain things (like a house, car, etc.) get taken away from you by the government. Or you’d be taken away for jail time. Although in the U.S., you’d have to have an outstanding debt in order to land you in jail, if you are sued and you miss a court hearing. Either way in this situation, you’d be left homeless or in a jail cell, what would you do then?

Money, money, money…

It’s best to avoid that scenario entirely, and just keep up with your payments. So, what are the essential things that are necessary for you to pay for? There are a total of tweleve things that you have to pay for: house insurance, utilities, internet, mobile payment, rent/or mortgage, car payment, gas, car insurance, life insurance, savings, car maintenance, and groceries (food & hygiene). There are other things to pay for that aren’t necessary, but are ways of entertainment and luxury. A few examples of these fun extras are: going out to eat, shopping, monthly/yearly subscriptions, technology, cable, makeup, gym membership, and cosmetic appointments (surgery, hair, Botox, dental, etc.). You could choose to pay for these things, or not. I’ve divided these 12 essential things into three groups: House, Car, and Personal. Let’s dive right in!

Oh yayyy…＞︿＜

House

So, what are the payments for a house? There are quite a few: rent/or mortgage, house insurance, internet, utilities, and a mobile payment. In order for you to understand why they are all important to pay for, you need to understand their purposes. Rent is a payment that is usually of an amount fixed by via contract. It’s made by a tenant (one that pays rent to occupy land, a building, or other property owned by another) at specified intervals, in return for the right to occupy/use the property of another. Mortgage is a loan for the purchase of real property, secured by a lien (a claim upon a part of another’s property that arises because of an unpaid debt related to that property, and that operates as a drag on the property until the debt is satisfied) on the property. Fun fact: You won’t have to pay for a mortgage and a loan, you could only pay for one.

Now that we understand what rent and mortgage is, what’s house insurance? House insurance is a form of property insurance that covers losses (and damages) to an individual’s house, and assets in the home. Why is internet important? Internet allows you to visit various amounts of sites, apps, etc. A lot of this is simply for entertainment, but it also could be very essential for your work. Like being able to use an email, visit certain apps that check into your bank account, and so on.

This leads to the next question, what’s so important about a utility bill? A utility bill is a monthly statement amount that a household (or business) is expected to pay for their utilities. This includes: electricity, gas, water, sewerage service, and trash collection. Last but not least, mobile payment. A mobile payment is a money payment made for a product or service through a portable electronic device, such as a tablet or cell phone. A cell phone or tablet can help you connect with others, and provide what your personal needs desire.

Car

The payments for a car are: car maintenance, car insurance, car payment, and gas. Car maintenance refers to the act of maintaining an automobile. Car insurance is a contract between an individual and an insurance company, that provides financial protection against physical damage (or bodily injury) resulting from traffic collisions and liability. That could also arise from incidents in a vehicle.

A car payment (also known as a car note) is when you finance a car. Although, you don’t actually own the car. You’re borrowing money and telling the lender that you promise to pay back the amount they loaned you (plus interest) within a certain time frame. Gas is important to pay for because it’s the fuel for your motor vehicle.

Note: A car payment and car loan are not the same thing! Car payments are determined largely by three things. Which is the loan amount, interest rate, and length of the loan term. They can also factor in fees, taxes, and charges. (Which varies widely depending on where you live and where you purchased the car). A car loan is a sum of money that a consumer borrows from a lender to purchase a car. The longer the loan term, the more total interest you’ll pay over the life of the loan. Yet, it also means lower monthly payments.

Personal

There are also essential personal payments that you need to take into consideration. Such as groceries (food & hygiene), life insurance, and savings. Paying for groceries that include food and hygiene, is extremely important. It keeps you from starving, and your body healthy, while looking bright.

Life insurance is a contract between an insurance policy holder and an insurer. Where the insurer promises to pay a sum of money to the beneficiary when the insured person dies (or after a pre-determined period), in exchange for the premiums paid by the policyholder. This is important especially for those living with a roommate/s, or having a spouse.

What are savings? Savings are income not spent. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash. I highly recommend doing this. Savings would also be considered back-up money, for its saving up for bigger items.

Wrap-Up!

In conclusion, money management is important because it helps to understand where your money goes to which payment. Whatever the payment is for, you should always take care of the essential payments first. Such as your house, car, or personal payments. These have a lot more worth, and are an absolute must to take care of, than the luxurious-extra payments do.

Without money management, or understanding what your money is going towards, you get very lost and overwhelmed. To the point where you’d fall into debt, lack any kind of accountability for your actions, and dig a deep hole for yourself. The best option is to find a solid career that could pay for all of the essentials, and more. So that you don’t have to worry about the mundane payments, or when your next meal is. So that you can live comfortably and happily instead.

Sources:

https://www.forbes.com/advisor/auto-loans/average-car-payment/

https://brave.com/

https://www.merriam-webster.com/

Lesson 9, Home Economics @zbelles

The Most Important Skills That I Can Use In Starting My Business This Year

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In order to sell something, you must have a certain set of skills. Some skills come naturally, others have to be learned. It depends on the person and the skill. However, with enough practice, anyone can become a great salesperson. Some people just naturally have a head start.

The number one skill to have in the vast majority of situations is patience. People can be very difficult to work with, especially when they are looking for something specific. Some people might be confused, it’s easy to get frustrated trying to explain something to someone. Or trying to help them out in any way, when they are not entirely sure what they need help with. There are also difficult customers who are easily annoyed or set off, you must be careful around these people. No matter what the situation is, patience is a virtue.

Personally, I am not a super patient human being. However, I am also very good at seeming to be patient, especially when there is a benefit like money involved. Pretending to be patient sometimes helps me become patient. Either way, as long as there is no outward disturbance on my part, and I continue to look friendly, and everything is fine.

 I did not see a whole lot of content about friendliness in my business course. It seems to me that being nice and personable is underrated. In my experience when someone is very nice, people want to buy from them; it tugs on their emotions. Why should they not support someone who just brings kindness to the table? They feel bad, especially when it comes to children. People want to support the next generation.

All in all, I think my most important skill is truly perfect in salesmanship, and that is to adapt and “fake it til I make it”, so to speak. It is easily applied to all sales situations, and it covers a range of skills. It does not perfect them, but I would rather have five good skills than one great one. Sometimes it is difficult for me to get out of my comfort zone and just do something. In the end, whenever I do it always ends up a better situation than when I do not.

Lesson 170, Business I @zbelles

What Bone Marrow Is, The Two Types Of Bone Marrow, & Why They Are Important To The Body

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3. What is bone marrow? What two types of bone marrow exist, and why are they important to the overall health of the body?

We think of our bones simply as hard mineral structures that give our bodies a frame. In fact, our bones aren’t only a matrix of calcium, phosphorus, and collagen. Our bones also contain thousands of living cells and nerves inside of them. This is why we feel pain when our bones get broken or damaged. Long and flat bones, such as our ribs, hips, femur and shoulders, all contain bone marrow internally. This bone marrow comes in two different types.

Red marrow creates blood cells and stem cells. This includes osteoblasts, “immature” bone cells which secrete osseous material and the mineral matrix. The “mature” osteocytes, secrete bone growth hormones during childhood and bone maintenance hormones during adulthood. The counterpart of red marrow is yellow marrow. These are mostly fat cells which support the function of the red marrow. It is interesting to note that newborns do not have any yellow marrow; the child’s bones begin producing it only when the child begins to mature. Once a human reaches adulthood, his bones contain equal amounts of both variations of marrow.

Red and yellow marrow are part of the trabecular bone, which is spongy inside. This is the part of the bone that contains most of the living cells as opposed to the cortical or compact bone. Which contains mostly the mineral matrix. An easy way to remember the functions of these two different marrows is to associate red marrow with blood, and yellow marrow with fat.

Lesson 170, Biology @zbelles