Management of money

[Zaka1221]

Financial management is necessary in every aspect of our daily life. Because if there is financial management in terms of wealth or goal achievement, then that process can be managed in an organized, planned and controlled manner. If there is no financial management in terms of investment, there is a possibility of financial loss. As a result of proper financial management, when we can maintain a balance between our emergency fund, reserves and investments, it will bring us financial stability as well as ensure financial security. Therefore, financial management is important so that we can control the proper use of our resources and our inclinations.

Yes even I don't agree, as you explained perfectly and really hit on this that why this is important for our daily lives. It is all about having a clear plane for saving money. It's not about just saving money but its all about to save it for bad times or reaching our goals, big or small etc. like you said, it makes the whole process feel safe and organized in a better way rather than just guessing and wasting time.
Your point of view about saving money and investing it in something realistic is best way to secure future but without any plane or goal its totally useless and asking for trouble.
It's like loss of your financially ability but balancing it in a better way is everything we all need for better prospects and future too. Finding sweet spot having cash for bad times and emergencies, we don't have to look at others hands. Investing money for long run is only way so we can stop worrying about money and future too. it really gives us the real stability and security you were talking about.

Financial management really touches every part of life it’s not just about saving or investing it’s about knowing where your money goes how it grows and how it protects you when things get rough if you have a plan for your finances you’re not just reacting to problems you’re preparing for them and that’s what gives real peace of mind. Many people save money but without a plan those savings can disappear quickly or get spent on things that don’t really matter that’s why setting clear goals matters so much you need to know why you’re saving maybe it’s for emergencies maybe it’s for retirement or to start a small business whatever it is the goal gives direction otherwise you’re just saving without progress.

It’s also important to balance between saving investing and spending too much saving without investing can slow growth but too much investing without an emergency fund can leave you stuck when something unexpected happens finding that middle ground is what makes financial management powerful it’s not about how much you make it’s about how wisely you use it. And yeah when your finances are organized life feels more stable you don’t have to depend on others or panic when sudden expenses come up you start building confidence because you know you’re in control that’s what financial management really gives not just money but security independence and a stronger foundation for whatever future you want.

Financial planning matters a lot in life because finance is most important thing in life . People always try to be rich person of their area but it is not possible if they have no knowledge of investment because Investment is always need of everyone because everyone want to make his money double in short time but if someone has more money he will save some money for the future. People are Investing because they want big profit because they want to save money for their child who are now small but will be big after few years  and they will need best education.Young generation knows Investment should be on their mind because it will give more profit to them and in few years and they will be rich after few years .

[Yablee0]

Financial management is very essential in our  day to day activities, their is no way you can be financially settled if you aren't able to manage your funds as a business mugu or as an ordinary person.
However, financially management has been one of the most sensitive and the major mastermind of every successful investor or business person, the day you fail in setting up strategies in how you spend your money is the day you welcome your doom. Their is this saying they normally say that the way you train your money is the way it turns out for you in the future, if you mismanaged or spend it off recklessly in suning days, when the raining days comes when things seem not doing well you will have your self to blame because nobody will see you well.

[passwordnow]

The great spenders become broke because they don't know how to manage their money. If they're going to give themselves an idea on how they can manage their finances, they might not become broke anymore. That's what the rich people does, they don't want to be broke again and so they learn and master the money management which is not only for them but also for the generation that they are building. Because no matter how big you earn and the salary that you have, if you're not a good manager of your own finances, it's all going to waste.

[summonerrk]

Management of money is very important for everyone. Management of money helps you plan on how to use your money wisely. If you are going on managing your money, you will understand what it means by financial planning,  investing, saving, managing debt etc. Once you how to allocate your money to the right things that is needed for, then you are beginning to master money management.

That's all true, but given the scope of this topic, I'd divide the approach into two parts: saving and accumulation. Saving allows you to budget, for example in Excel, and see expenses that are essentially unnecessary. And money saved is essentially money earned. As for savings, you're generally correct, except that you need to decide right away whether you'll be investing the money for the long or medium term and at what interest rate. Either conservatively, or with an attempt to quickly make a good profit, even with a high percentage of unsuccessful investments.

[mirakal]

In all management of money is very important in all day long, if you don't manage your money very well the consequence might be for ever.

Even those with high salaries, if they are not good in money management then all of the salaries that they're earning will surprise them that they have no idea where it is going. And that's why it's not about how huge someone earns but it is about how much is what they get to keep. It all starts on how we are managing our finances, debts and responsibilities or the bills. If we're able to put the priority first then we'll make sure that our money are well spent and they're not going into waste and that's why we're doing everything we can to manage it in a simpler and wiser way.

There is bigger challenge if you are earning well compared to those who only earn paycheck to paycheck. Because let's accept the reality that those who only earn minimal amount will hardly find ways to save, but those who earn high salaries should be wiser in tracking their expenses so that at the end of the day, they can still save a significant amount. Money management is something that everyone should learn, regardless if it's a small or big amount. Otherwise, if you don't know how to manage your funds, saving, investing and even paying debts and bills will be impossible to happen.

[SUPERSAIAN]

Using money wisely is important. I don't think it's good to not spend money at all; we need to strike the right balance. Excessive spending and saving, in my opinion, doesn't have the best results. So, is using money an art? I think it is. Managing money effectively is one of the most important elements in life; someone who manages money effectively also manages and evaluates many other events in their lives.

[ndutndut]

The great spenders become broke because they don't know how to manage their money. If they're going to give themselves an idea on how they can manage their finances, they might not become broke anymore. That's what the rich people does, they don't want to be broke again and so they learn and master the money management which is not only for them but also for the generation that they are building. Because no matter how big you earn and the salary that you have, if you're not a good manager of your own finances, it's all going to waste.

That's right. No matter how much you earn, if you can't manage it well, it will be wasted in the future. That's why it's crucial to learn financial literacy from an early age, because ultimately, we all deal with finances, regardless of our profession. Especially for entrepreneurs, businesses, and investments, we must be smarter about managing our finances.

Learning financial literacy is key to achieving future financial freedom. Simply having a large income isn't enough. Fundamentally the most important thing in finance is how to manage, grow, and invest that money effectively. All of this can be achieved with sound financial management.

[ASloveapg]

Using money wisely is important. I don't think it's good to not spend money at all; we need to strike the right balance. Excessive spending and saving, in my opinion, doesn't have the best results. So, is using money an art? I think it is. Managing money effectively is one of the most important elements in life; someone who manages money effectively also manages and evaluates many other events in their lives.

I agree with you, everyone should actually manage their money properly and be careful. It is important to maintain balance in everything, nothing in excess is good, and if someone saves too much, then he is deprived of the taste of his earned money, so balance is the key here. You have to spend and save, you have to manage both things in balance. Then you will be able to move well in your daily life and at the same time a financial foundation will be created for the future.

[MFahad]

Using money wisely is important. I don't think it's good to not spend money at all; we need to strike the right balance. Excessive spending and saving, in my opinion, doesn't have the best results. So, is using money an art? I think it is. Managing money effectively is one of the most important elements in life; someone who manages money effectively also manages and evaluates many other events in their lives.

Money should be spent but not wastefully, in order to spend money it is important that we spend it in the right sense. if we spend and save money from our income we will not face difficulties in the future. A person who earn money and don't save their money and spend it on Unnecessary things. It will be difficult for him to live The best solution is if we set a goal for ourselves. We spend and save accordingly Life will be easy for us. The goal in life is not just to earn money but to save it and spend it wisely that is also very important It's not that you shouldn't spend. you can spend money only on things that a person needs Money is needed by everyone

[bangjoe]

Using money wisely is important. I don't think it's good to not spend money at all; we need to strike the right balance. Excessive spending and saving, in my opinion, doesn't have the best results. So, is using money an art? I think it is. Managing money effectively is one of the most important elements in life; someone who manages money effectively also manages and evaluates many other events in their lives.

I agree with you, everyone should actually manage their money properly and be careful. It is important to maintain balance in everything, nothing in excess is good, and if someone saves too much, then he is deprived of the taste of his earned money, so balance is the key here. You have to spend and save, you have to manage both things in balance. Then you will be able to move well in your daily life and at the same time a financial foundation will be created for the future.

The most important thing is to have good money management, whether you save enough or not is relative in it because everyone has different priorities in managing their savings, who knows that they postpone pleasure and want to enjoy it someday it's really relative every person has their own way.

I think that how a person can save from his income and manage expenses so that he has enough remaining funds for needs, that's all in managing money, because managing money is indeed the most important art to change life circumstances for the better.

[Hypnosis00]

Management of money is very important for everyone. Management of money helps you plan on how to use your money wisely. If you are going on managing your money, you will understand what it means by financial planning,  investing, saving, managing debt etc. Once you how to allocate your money to the right things that is needed for, then you are beginning to master money management.

Money management is the most basic thing that any person should learn to deal with knowing it's an everyday occurrence that you will be utilizing your money to the best way possible. Spend your money wisely so that everything will be use in its purpose accordingly, without compromising some of your bills and monthly expenses. That way, after all payments have been possible, you can start directly saving your discretionary funds and increase your savings amount, aside from setting aside for your investment funds that will give you chances to become profitable in the future.

[Onyeeze]

Management of money is a personal decision and the it is something that you have to have a target on whatever you want to do because without you having a target or a plan of what you use your money to do you will be spending without a plan and that is mismanagement, but when you have a target on what to achieve you will be focusing on that so that is why you see many people get does the place the app today is because the target before the arrival of their money, they're planned ahead of their income so that they will not spend it unnecessarily, but when you have a project on your list the target on your list you will execute them first before spending your money unnecessarily as I said before

[Distinctin]

The great spenders become broke because they don't know how to manage their money. If they're going to give themselves an idea on how they can manage their finances, they might not become broke anymore. That's what the rich people does, they don't want to be broke again and so they learn and master the money management which is not only for them but also for the generation that they are building. Because no matter how big you earn and the salary that you have, if you're not a good manager of your own finances, it's all going to waste.

There is no waste of money if there is wise way of spending your money. Financial management is paramount, you don't just spend for merely spending, but smart people spend to invest and gain financial returns. And most likely, those who don't see financial management is essential, will not try to save nor invest, because they all think they all got the money to spend, and that there's no way they will run out of it. Such stupid mindset that brings huge negative impact in the future.

[Fara Chan]

<<<

I agree with you, everyone should actually manage their money properly and be careful. It is important to maintain balance in everything, nothing in excess is good, and if someone saves too much, then he is deprived of the taste of his earned money, so balance is the key here. You have to spend and save, you have to manage both things in balance. Then you will be able to move well in your daily life and at the same time a financial foundation will be created for the future.

Besides spending and saving, it's also good to do one more thing after the two things you mentioned: investing in the right assets so that the enjoyment we can experience in this world will be far more complete than someone who only maintains a balance between spending and saving fiat money. I also like this concept, but in these conditions of continued uncertain economic development, everyone must also be smarter in managing their money, as well as being smarter in managing the balance between money spent and money saved for themselves.

[BlackBaron]

The great spenders become broke because they don't know how to manage their money. If they're going to give themselves an idea on how they can manage their finances, they might not become broke anymore. That's what the rich people does, they don't want to be broke again and so they learn and master the money management which is not only for them but also for the generation that they are building. Because no matter how big you earn and the salary that you have, if you're not a good manager of your own finances, it's all going to waste.

There is no waste of money if there is wise way of spending your money. Financial management is paramount, you don't just spend for merely spending, but smart people spend to invest and gain financial returns. And most likely, those who don't see financial management is essential, will not try to save nor invest, because they all think they all got the money to spend, and that there's no way they will run out of it. Such stupid mindset that brings huge negative impact in the future.

Spending wisely is very important and it is closely related to financial management. If we can't manage our finances well, then we will be in a mess. No matter how much money we have, if we are not good at managing it, it will be used up by unnecessary expenses.

We can learn from many big companies, they can become big companies because they can manage their money well. And even we know in big companies there are special departments to manage it. That shows how important financial management is.

[woez]

Spending wisely is very important and it is closely related to financial management. If we can't manage our finances well, then we will be in a mess. No matter how much money we have, if we are not good at managing it, it will be used up by unnecessary expenses.

We can learn from many big companies, they can become big companies because they can manage their money well. And even we know in big companies there are special departments to manage it. That shows how important financial management is.

It's a good example to illustrate company performance, as they grow due to disciplined and accountable financial management. However, we should apply it more to everyday life, and the challenges involved may be more unique than managing a company's finances.

In a company, there's no such thing as compassion or humanity if the rules of procedure are established. Anyone found guilty and proven wrong is immediately punished. But in a family, would we do that indiscriminately? Therefore, those who successfully implement such governance within themselves or their families wisely are truly true leaders in all aspects.

[barisbilgili]

Spending wisely is very important and it is closely related to financial management. If we can't manage our finances well, then we will be in a mess. No matter how much money we have, if we are not good at managing it, it will be used up by unnecessary expenses.

We can learn from many big companies, they can become big companies because they can manage their money well. And even we know in big companies there are special departments to manage it. That shows how important financial management is.

It's a good example to illustrate company performance, as they grow due to disciplined and accountable financial management. However, we should apply it more to everyday life, and the challenges involved may be more unique than managing a company's finances.

In a company, there's no such thing as compassion or humanity if the rules of procedure are established. Anyone found guilty and proven wrong is immediately punished. But in a family, would we do that indiscriminately? Therefore, those who successfully implement such governance within themselves or their families wisely are truly true leaders in all aspects.

We don't need to look at examples or compare with things that are too big, companies of course need financial management so that the company continues to run stably but in our lives we don't need to be too excessive, what is needed in life is just managing finances so that we can continue to live regarding some mistakes made because fulfilling desires in life cannot be considered too excessive, what needs to be remembered is that we work and earn money for ourselves so we don't need to limit that, the most important thing is that we earn as much money as possible to fulfill all our needs and desires.

[MarjorieZimmermanGinger]

MANAGEMENT OF MONEY
Is a process of monitoring planning and controlling of money, it involves how you save, spend, and earn.
Before you manage money very well here are the following criteria.

Managing it is very difficult, and if someone lacks the skills, it may be far from optimal if they lack the ability to prioritize. To effectively manage their finances, they need to prioritize everything, including managing living expenses, savings, business, and investments. Sometimes, people don't prioritize because they assume it will just happen. If this is the lifestyle they lead, success will be difficult. Management is essential, especially when making financial changes and many people fail because they don't know what to do.

[junder]

Using money wisely is important. I don't think it's good to not spend money at all; we need to strike the right balance. Excessive spending and saving, in my opinion, doesn't have the best results. So, is using money an art? I think it is. Managing money effectively is one of the most important elements in life; someone who manages money effectively also manages and evaluates many other events in their lives.

I agree with you, everyone should actually manage their money properly and be careful. It is important to maintain balance in everything, nothing in excess is good, and if someone saves too much, then he is deprived of the taste of his earned money, so balance is the key here. You have to spend and save, you have to manage both things in balance. Then you will be able to move well in your daily life and at the same time a financial foundation will be created for the future.

Balancing income and expenses is crucial. Many people earn money but aren't very wise in how they use it. They often prioritize things they don't really need. This tends to be the case for young people, who tend to prioritize a high standard of living while their income doesn't match it. This is especially true in my community.

But sometimes I feel the difference between money we earn ourselves and money we receive for free, like gifts from others. I find it difficult to spend money I earn myself, but with money I receive from others, I sometimes find it very easy to spend it on anything, even the unimportant ones. Do you feel this way too?

[jems]

The great spenders become broke because they don't know how to manage their money. If they're going to give themselves an idea on how they can manage their finances, they might not become broke anymore. That's what the rich people does, they don't want to be broke again and so they learn and master the money management which is not only for them but also for the generation that they are building. Because no matter how big you earn and the salary that you have, if you're not a good manager of your own finances, it's all going to waste.

It's not just the wealthy even those with small salaries will struggle if they can't manage their finances effectively, This is actually a difficult skill and it's never taught in school, we must learn it ourselves.
You're right, as you say that the key to success is good financial management, I've experienced this myself having a large income but not being able to manage it effectively, leading to the money not being used for beneficial purposes, ultimately leading to my current financial hardship.