It is never too early to learn about money. First, make a simple budget every month. Write down your allowance and all your expenses, even small ones like drinks. Then put a part of your money into a savings account at the bank. Your deposit may look small, but it will grow over time. Try not to buy things on credit, because you will have to pay more later. Many economists say good money habits start at a young age. Your future self will thank you.

When the economy slowed down last year, many small shops in our town had a hard time. My uncle runs a noodle shop, and his earnings dropped by half. He still had to pay his workers' salaries, the rent, and his taxes. He even had to take out a small loan from the bank. My aunt found a second job to help pay the mortgage on their house. Luckily, the recession did not last long. Now customers are coming back, and my uncle is smiling again.