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Money Managment

Money management refers to the process of tracking and planning an individual or group’s use of capital. In personal and corporate finance, money management usually includes budgeting, spending, saving, and investing. Money management is a broad concept. It refers to the strategies and techniques to determine the use of an individual, company, or institution’s capital. In personal finance, money management covers budgeting, spending, and saving (investing). Money management can be proactive with periodic or regular financial planning. It can also be reactive to specific events without intuitive planning in advance.


Banking fundamentals refer to the concepts and principles relating to the practice of banking. Banking is an industry that deals with credit facilities, storage for cash, investments, and other financial transactions. The banking industry is one of the key drivers of most economies because it channels funds to borrowers with productive investments.


Budgeting is the tactical implementation of a business plan. To achieve the goals in a business’s strategic plan, we need a detailed descriptive roadmap of the business plan that sets measures and indicators of performance. We can then make changes along the way to ensure that we arrive at the desired goals.

Credit and Debt Management

Credit is created when one party (a creditor) provides resources to another party (a debtor) where no immediate payment is made; rather, the resources are provided with a promise of future payment. 

Good debt lets an individual or company manage finances effectively so that it becomes easy to build on existing wealth, purchase what is needed, and prepare well for uncertainties. This includes mortgages, buying goods and services that save the buyer money, education loans, and debt consolidation.

Bad debt, on the other hand, is an engagement whose value decreases right after purchase. However, that description fits most of the vital things we need in life, such as cars, TVs, and clothes. Other examples are credit card loans or payday loans.

Financial Goals

Financial goals are the long-term, short-term and intermediate plans you have for your finances. The best financial goals align with your values and personal objectives. Setting appropriate financial goals requires a relatively high level of financial literacy. Your financial goals are the specific monetary amounts you are committed to obtaining that will allow you to realize your vision for your life. 

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