When you are responsible for paying your own expenses, you start to take more responsibility for how your money will be spent. At this point you begin to understand the importance and begin to value money management. Money management is the activity, where you decide how much of the money you have will be spent and what will be spent. When you pay your own expenses, you must manage your money well and ensure that all your needs, such as home, food, taxes, gasoline and other things are paid. If you do not manage your money you will end up spending on needless things and you may have some unpaid necessary expenses, which will cause problems for your life.
