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Money Management: Control Your Cash

Lesson 1-5 Financial Position

Your idea of what it means to be wealthy depends on personal values and circumstances. For some families, being in a comfortable financial position means they can order pizza and still pay the bills. For other families, it means taking exotic vacations or buying a car with cash.

What You’ll LearnExplore strategies to maintain a positive cash flow.

Taking it Home

  • Use the online Budget Wizard to generate several What If scenarios, such as an increase or decrease income or added expenses due to taking on auto-related responsibilities.

Learn More

  • Research to estimate costs to live at home, on campus, or off campus if you will soon be attending a college or a trade school. Use that information create a spending plan for a school semester or trimester. Create another spending plan that fits your lifestyle when school isn't in session, such as over the summer break or winter break. 

Related Resources


Talking Points for Parents

  • Every family has a different money management system. Whether or not your family keeps a formal budget, talk to your teen about the importance of having a spending plan. Share your own experiences to reinforce classroom lessons.
  • Include your teen in planning for household spending, such as monthly groceries or a major expense.