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Handling money is inherently risky business. To even have money on one's person with other's knowing it, is a risk, in and of itself. Money is a transmitter of germs and viruses, unless its new coming out of the vault of a bank. Keeping money under a mattress or cookie jar, except in small amounts, is terribly risky. Failing to earn interest on money reduces your money's purchase power in times of inflation. But, these aren't the risks I am talking about here. All investments of money carry a risk. That is the risk discussed here.

Control of one's money requires first knowing, in detail, where it is going. There is a reason every successful business, large or small, tracks to the penny, their incoming and outgoing dollars, and actually look at the categories frequently, that are consuming their greenbacks. Today, with a personal computer, tracking personal income, even a teen's part-time income and where it goes, is very easy and cheap, or free.