Management of money

[Prosofina_G]

It is very necessary to note what management is all about before riding on to talk about management of money.
The term management  comprises verious segments of life in our day to day activities, haven't said that.

MANAGEMENT can be seen as a way of doing things bet by bet that includes organising, planning, controlling and leading.
It can broadly be define as coming together of people to work in deferent paspertive to achieve a  smooth way of work or tasks.
This might be deferent from the management of money.

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.

1. FINANCIAL PLANING
2. INFESTING
3. DEBT MANAGEMENT
4. EARNING
5. SAVING

Money management can never be possible if you don't fellow the above mentioned criteria,  it is not easy managing money because if you don't manage it very well by inploying the above method, then you have not started controlling money.

FINANCIAL PLANNING, there are what we call long time planning and shot time planning in this method you can plan for a short time which includes immediate income for instance buying a commercial car for a business that you can just start to earn money, is called a short time planning, while a long time planning can be seen as a money use to buy shares either in the bank or any investment of your choice that is a long time planning.

INFESTING, this is one of the best ever in financial planning, investment is one of the best things that will happen to anyone who doesn't want to go poor in life.

DEBT MANAGEMENT, this process can make you go poor in your life, if you don't manage your debt position very well, because most people are ruined all because of debt, you have to be careful on how you borrow money from any NGO or backs, and if you must borrow, borrow for a tengeble reason.

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.

[Solodoski]

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.

[DYOR+BTC]

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 a very important skill required to gain financial freedom which is the first aspects in fighting poverty. Some may have opportunity working in a wonderful environment for a long time but due to lack of managerial skills, using the capital generated from the job to archive something meaningful becomes very difficult at  last. To eradicate poverty or archive once dreams, good managerial skills is considered  necessarily important because know matter the amount received at a particular time, if not properly managed it most become a thing of the past

[tabas]

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.

[Majestic-milf]

 You can't manage money when you don't have control. Every individual has beautiful plans when it comes to making use of money but the question is: can you be able to control money when it's in your possession because it's one who has mastered the art of control that can be able to invest it so you can make more profit and also be able to avoid going into debt.
 There are people who are very reckless and impulsive and don't know how to employ the strategy of "scale of preference" and this means they won't be able to have what they can use to save because they have the impulsive behavior or have virtually everything, even when they don't need it.

[AmaGold70]

Some people find it very difficult to manage their money and many have gone bankrupt because of the lack of control over money management, the best ways that I manage money is budgeting, tracking my expenses through budgeting has always helped me to monitor the way I spend money and the places my money is going into. Another way that I manage money is by keeping aside money for emergency like an emergency fund and this an helped me to avoid going into debt whenever an emergency comes up unexpectedly.

[Findingnemo]

Money is a rigged game. For most it is harder to get and easier to spend (middle class) and for the top 1% they make their money in a lot easier way just by letting their money work for them.

Anyone can rich if they can find that one best skill of their which can be anything and they need a proper advertising skill that reaches people which can be monetised and if one thing is missing, then you will be there as it is. That is one of the reason why we see many knowledgeable person on a specific thing is still not financially successful.

[Odogwu-Blockchain]

Some people find it very difficult to manage their money and many have gone bankrupt because of the lack of control over money management, the best ways that I manage money is budgeting, tracking my expenses through budgeting has always helped me to monitor the way I spend money and the places my money is going into. Another way that I manage money is by keeping aside money for emergency like an emergency fund and this an helped me to avoid going into debt whenever an emergency comes up unexpectedly.

The only statement i used that keeps me going is "Live below your means"
Some people are perished because they spend their money to impress the society just for them to fit in. Leaving like this makes it more difficult to save, manage and spend money. Whats really most important is the ability to grow money, everyone makes money, but few knows how to grow money, many failed through this system but it has to be learnt, studied and practice to be able to conquer it.

[letteredhub]

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.

Hey man you would have to take real cognisan of your spellings, you made a lot of blunder with some of the words in your op something that could ruin all the energy you packed into writing such educative post reminding us of the importance of management.

Management is a key concept in our everyday living that can't be overemphasized because without it resources abuse and mis appropriations would have being a normal conduct in all sectors of society. With management put into work planning is drafted with a nicely organised budget tied towards achieving set plan. So at all  grades management is necessary for optimum results.

[AVE5]

Management in a common is a structured system by which resources are utilized effectively to achieve a goal in a very efficient order. It might be economical management or events management which is focused to regulate monetary expenses or a tactic to achieve a goal after a project.
Good management is always an advantage to achieve goals at a due time or at less expenses and demands. It demands very high disciplines and dedication to be a good manager.
Bad management always cause setback and resource consuming.

[SmartGold01]

Of course it's an essential tools that would guide us through our journey of becoming successful or not, anyone who doesn't apply risk and financial management could easily go broke especially when they are already swimming in riches it could be an inherited wealth which was passed through generational wealth creation. Financial management plays a crucial roles in our life and anyone who must attain and achieve that goal must apply risk, savings and investment in their life time plan of becoming successful.

[Cryptoprincess101]

Some people find it very difficult to manage their money and many have gone bankrupt because of the lack of control over money management, the best ways that I manage money is budgeting, tracking my expenses through budgeting has always helped me to monitor the way I spend money and the places my money is going into. Another way that I manage money is by keeping aside money for emergency like an emergency fund and this an helped me to avoid going into debt whenever an emergency comes up unexpectedly.

The only statement i used that keeps me going is "Live below your means"
Some people are perished because they spend their money to impress the society just for them to fit in. Leaving like this makes it more difficult to save, manage and spend money. Whats really most important is the ability to grow money, everyone makes money, but few knows how to grow money, many failed through this system but it has to be learnt, studied and practice to be able to conquer it.

You made lots of sense actually, the problem is that the high percentage of the society is blinded by competition. Many people want to live life just as others are living without making a background check to know if their income suits in that lifestyle they want to emulate from other people. Most people do not live according to their standard but live to impress other people, this is where the major problem lies. You will see someone that is earning very little but would enter into a debt just to meet up some certain lifestyles of their peers or friends. The earlier we start living to the capacity of our income, the better way we can manage our money effectively. Growing money just as you said is another way to manage money because it helps to multiply our income such that it can meet up with our demands without putting ourselves in a state of distress.

[Keevoid]

managing money goes beyond just saving, you have to be intentional with every financial decision and understanding where your money actually goes. I strongly believe  that financial stability isn’t determined by how much you earn but by how wisely you manage what you already have. I started tracking expenses, setting clear priorities, and cutting out impulsive spending, budgeting became less of a restriction and more of a guide for progress. I also learned that avoiding unnecessary debt is as important as earning more income, both keep you in control.
It is important to note, managing money well is a continuous practice, one that rewards patience, discipline, and self-awareness.

[Y3shot]

The most important thing about money is how to manage it well; it is even more important than generating more money because, most times, we get elevated financially by the money we already have. Being unable to manage money well can even lead to a problem of not having money at all. So financial management is as important as having money. The ways to achieve financial management are to understand the value of money and to be disciplined about only spending on the things you find important, not just on liabilities.

[Hewlet]

The most important thing about money is how to manage it well; it is even more important than generating more money because, most times, we get elevated financially by the money we already have.

In the strata of making money, what we do after we have made the money matters most. you can be lucky to out of your business make as much as $10k within a short period of time and in less than few months spend it all out if you are not intentional about how to effectively spend it such that it goes only into things that are worth spending it for.

some that is earning $250 per month can grow his income higher than another that earns $500 if the former knows how to manage his income effectively.

[Versatile_choice]

Some people find it very difficult to manage their money and many have gone bankrupt because of the lack of control over money management, the best ways that I manage money is budgeting, tracking my expenses through budgeting has always helped me to monitor the way I spend money and the places my money is going into. Another way that I manage money is by keeping aside money for emergency like an emergency fund and this an helped me to avoid going into debt whenever an emergency comes up unexpectedly.

Surely everyone have his or her own way of managing money, but the best way to manage money is to make budget ahead of time. Maybe if you're expecting your monthly or weekly income in one week time then you can start making budget earlier so that to avoid distraction or maybe looking into other things that is not part of your plan or budget. Because the reason why most people mismanage thier money is because they always wait for the income to get to them before making budget forgetting that money can easily influence people. And when the money get to them first thing first is to spend in luxury  forgetting that thier are other important things they should be looking into.

[atookz]

Before someone can manage their finances well, they must first understand the basic principles of management. How to organize, plan, control, and lead resources to achieve goals. Financial management plays a crucial role in life. Through financial planning, investment, debt management, income management, and savings, one can achieve personal economic stability and sustainability.

Short-term and long-term planning are also highly relevant because they complement each other. Short-term planning helps meet daily operational needs and economic activities, while long-term planning aims to build future financial security through investments and savings. Debt management is also crucial because many people experience financial difficulties not due to lack of income but due to ineffective debt management. Therefore, the ability to control borrowing and understand financial risks is an integral part of sound financial management.

Essentially, good financial management is not just about making money, but about managing, utilizing, and developing it wisely. With discipline and careful planning, one can achieve financial well-being and avoid future economic problems.

[Sim_card]

How to prioritize your needs before your want is very important because that's the beginning of financial management. When you just buy things and put your money anywhere without thinking if it's what will bring you more money or eat up the little that you have. You also don't need to be a glutton or someone in competition with others. Self control, discipline and patience are good attributes that can help one in financial management.

[Mr Reporter]

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 a very important skill required to gain financial freedom which is the first aspects in fighting poverty. Some may have opportunity working in a wonderful environment for a long time but due to lack of managerial skills, using the capital generated from the job to archive something meaningful becomes very difficult at  last. To eradicate poverty or archive once dreams, good managerial skills is considered  necessarily important because know matter the amount received at a particular time, if not properly managed it most become a thing of the past

This is the part where I think most people have missed it having to manually manage money it has been note that money management is really a important skill to learn as a human for achieving financial independence, which has become a missing piece in the life of so many people today, you having to get well paid job should be the first step, then having to maintain or manage it should be the second step, then had to read in a Tv interview where an average Rich man was asked how he became so rich with wealth the he say that he was not earning that much about at a time he had to adopt to financial management and aslo By mastering these skills, you can break the cycle of poverty and achieve financial freedom. It's not just about earning more; it's about managing what you have wisely.

[Uhwuchukwu53]

The easiest way to access a failure who have seated on money, is question from the managerial aspect of the money, they management of money it's important in life entirely can't not undermine, because it's the key that usher any one the real success.

Many people today lack budgeting which is the key to their financial management and without a budget no amount of financial income can yeild others income which is a result of poor management. The management must be a primary element when finance is involved to maintain such wealth else it will vanished like spirit.