importance of income and the proper management of income.
Storyboard Text
- Oh, school's fantastic mom, actually we have a project that requires interviewing someone about the importance of income and proper income management in their everyday lives, and I need you both to be interviewed since you two are extremely good at those things.
- That's wonderful to hear, Yna! Sure, you may interview us after this so that you can finish your project sooner.
- How's school going, Yna?
- Proper income management, on the other hand, refers to the process of budgeting, saving, investing, spending, or otherwise supervising an individual's or group's capital utilization.
- Income is money earned by a person or a business in return for services, the provision of a product or service, or the investment of money.
- So mom and dad, what is income and the proper management of income?
- Money, or income, is the most significant source of living a healthy and wealthy life, but it cannot be compared to the value of love and care.
- Personal finances are a bit of a mystery without money management. This might result in excessive spending and living paycheck to paycheck. Money management may help you gain a better understanding of your income and spending habits, allowing you to make better financial decisions.
- My second question is, what is the significance of income and its proper management?
- Well of course, tracking your spending is the first step in improving your finances because proper income management begins with spending knowledge.
- You can improve your money management by regularly evaluating what you're doing with money and making changes that make sense for you.
- Make a monthly budget that is realistic. Set a budget based on your monthly spending habits as well as your monthly take-home money.
- um Do you have any advices or tips on how we may improve our finances, mom and dad?
- Being excellent with money entails more than simply getting by. When you have good financial abilities, life is lot easier. Begin an investing strategy and save money for large purchases. Being excellent with money takes practice.
- You may also build up your savings over time and pay your bills on time every month because paying bills on time is a simple method to handle your money intelligently and it comes with several benefits.
- That's a lot of advice and tips, Mom and Dad! Thank you!
- Anytime sweetheart!
- And we were done with the interview. Thank you very much, Mom and Dad! You guys are the best! I'll promise to apply all of your advice and tips to good use someday.
- aww no problem Yna. Dad and I got you always
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