“Waste not, want not “, means that if you carefully use your resources, you will never be in need. We can save money and live more sustainably by reusing, recycling, and upcycling our clothes and other resources. Are you wasting food or buying things that don’t last, or do you end up throwing them away? Consider the lesson of today’s saying and find ways to cut down on different areas of your life.
Firstly, we identify what is Finance?
Finance is the science that describes the management, creation, and study of money, banking, credit, investment, assets, and liabilities. We can identify three main parts of finance. There are.
Public finance
Corporate finance
Personal Finance
Public finance is the management of a country's revenue, expenditures, and debt load through various government and quasi-government institutions.
Corporate finance refers to activities and transactions related to raising capital to create, develop and acquire a business. It is directly related to company decisions that have a financial or monetary impact. It can be considered as a liaison between the capital market and the organization.
Personal finance is the process of planning and managing your personal financial affairs. It involves all aspects of your financial life, including saving, investing, spending, banking, insurance, mortgages, investments, retirement, tax, and estate planning.
What Is Financial Management?
At its core, financial management is the practice of making a business plan and then ensuring all departments stay on track. Solid financial management enables the CFO or VP of finance to provide data that supports the creation of a long-range vision, informs decisions on where to invest, and yields insights on how to fund those investments, liquidity, profitability, cash runway, and more. ERP software can help finance teams achieve these goals: A financial management system combines several financial functions, such as accounting, fixed-asset management, revenue recognition, and payment processing. By integrating these key components, a financial management system ensures real-time visibility into the financial state of a company while facilitating day-to-day operations, like period-end close processes
As an individual, we should work to maintain our financial situation at a good level in business as well as in our personal life.
Okay, that’s it for this article.
Also, if you have any questions about this or anything else, please feel free to let me know in a comment below or on Instagram, Facebook, or Twitter.
Thank you for reading this article, and see you soon in the next one! ❤️