personal financial management tips

PERSONAL FINANCIAL MANAGEMENT TIPS 
budget

1. What is financial management ?
Financial management is a way or the process of planning ( deciding for future ) , organizing(means arranging resources) , directing(means guiding), and controlling(means checking and comparing actual performance with the planned one and taking corrective action.) the financial activities of an individual, organization, or business. It involves managing money efficiently to achieve specific goals and ensure financial stability and growth.
2. Why financial management if important ?
. ✅ Ensures Sufficient Funds 
It ensure sufficient funds for present and future. Sufficient funds are available at the time of need . 
 📈 Improves Profitabilitly 
With the help of financial management you can increase productivity and profitability as it helps in making wise investment decisions for the company . 
 🧮 Reduces Financial Risks.
As financial plaing is done in advance for future it reduces the risk .
 🧭 Improves Decision-Making
 👨‍💼 Builds Investor & Stakeholder Confidence.
3. What are the tips for financial management ? 
 📋 Create a Budget: an important aspect in financial management to create budget whether it is for business for household track your income and plan your budget for the rest expenses. This should be follow regularly .
 💰 Save Before You Spend
Follow the rule: "Income – Savings = Expenses" .
 🧾 Avoid Unnecessary Debt
Borrow only when needed avoid borrowing without need .

 📈 Invest Wisely
 🧮 Track and Review Finances Regularly. 
 IMPROTANT TIP FOR FINANCIAL MANAGEMENT FOR HUSEHOULD : TRACK YOUR INCOME AND EXPENSES MAKE BUDGET AND PUT IT UNTO ENVELOPE ✉️ FOR EVER EXPENSES AND USE MONKEY FOROM THAT ENVELOPE FOR THE PARTICULAR EXPRESS. 
4. why it is important for student to learn financial management? 
 If you want to spread the value for money it is important to educate from very young age as at the young age kid and student grip things fast and learn fast . 
🤷 Educate them what is money 💰 
How much it value . 
🧒Give them physical education. 
🙎 Let them track income and making budget. 
5. Disadvantage of not learning financial management. 
 💸 Poor Money Management.
 💳 Debt Problems.
❌ No Savings or Investments.
 😟 Financial Stress.

CONCLUSION 

"DON'T SAVE WHAT IS LEFT AFTER SPENDING BUT BUDGET BEFORE SPENDING". 

not only adult but young one should also learn financial management and education institutions also start educating young .




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