What is Money Management?

Quotes about money management from Fareed Siddiqui, BBA, MBA-Fin, MPhil-Fin, (PhD)

“Cash is king” is an important expression used in analyzing business and making investments. Cash is the lifeblood of a business or a company. It is one of the most important aspects of any business.

It is due to this aspect that a business may be bankrupt or profitable. It is therefore, effective cash management is important to run the business in an effective and efficient manner. Below are some important tips that might be helpful in managing your money effectively while running your business.

It must be noted that most businesses fail due to cash flow problems. It is therefore managing cash efficiently is the basic requirement of running a business. Money management involves managing cash efficiently, the proper usage of cash while assessing liquidity and the cash flow and investments.

Managing your money effectively entails preparing cash flow budget on regular basis so as to determine the accurate cash movements. Preparing cash flow budget helps you project your cash inflows and outflows in an effective and efficient manner. It is with the help of cash flow budget you can ensure all the expenses that incur, are being paid on time, while the revenues are being managed efficiently.

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Written by:
K. A. Fareed (Fareed Siddiqui)
Writer, Trainer, Author, Blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (MSc-Software Engineering)
(PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India