In order to learn all there is to learn about money, it begins with earning our first paycheck. Normally, the time between when we begin working and we receive our first paycheck for some reason seems a bit longer than expected at first. But when that first check comes, then we have the challenge of making it last to the next paycheck. This method of money management is called the “paycheck to paycheck” method. The only way out of this method is to set a side a portion of each check for future emergencies and not to go into debt unless it makes or saves you money.
If you are ready for the “Money Course”, then let’s begin.
One tenth of that first check is to be given in tithe to your church.
5% should be put into long term savings.
25 % is to be used for housing.
45% goes to Uncle Sam and the state coffers. (This percentage will be increasing with the new government spending.)
That leaves only 15% for living expenses.
