Understanding how to work with, spend and save money can be a challenge. When running your business you need to have these skills mastered in order to be successful long-term.

As a college student I didn’t have the skills to managing my own money. In fact I was down right awful. I had nothing saved, lived paycheck-to-paycheck and could barely get a loan to buy a car because my credit was below the required levels, despite having a full time job all the way through college.

I don’t blame anyone other than myself for not managing my money. At the same time I believe I got into that position because I wasn’t taught at an early age by my parents or school system how to spend, save and work with money. Working with money is a skill. It’s something that can be taught. I know because my daughter understands the idea of saving, investing, giving and spending.

My wife and I have used the Money Mama piggy bank and book to teach our daughter how you save, invest, give back to others, and when and how to spend her money. Now this is not just any piggy bank. I had piggy banks when I was a kid and learned only how to get the money out when I wanted to by candy at the convenience store. This piggy bank (Money Mama) has a story book and lessons that go along with it. They teach you and your kids how to manage your finances. I highly recommend a program such as this for anyone struggling with managing their money, not just those with kids. Take the principles of the program and use them in your personal and business finances. If you do you will be successful.

Before you start a business get the skills of managing money mastered. If you don’t you won’t be in business very long.