Question

1.
Write a short note on ‘proper money management.' (50 words)
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Answer 1

Explanation:

Money management is the process of expense tracking, investing, budgeting, banking and evaluating taxes of one's money which is also called investment management.

Money management is a strategic technique to make money yield the highest interest-output value for any amount spent. Spending money to satisfy cravings (regardless of whether they can justifiably be included in a budget) is a natural human phenomenon. The idea of money management techniques has been developed to reduce the amount that individuals, firms, and institutions spend on items that add no significant value to their living standards, long-term portfolios, and assets. Warren Buffett, in one of his documentaries, admonished prospective investors to embrace his highly esteemed "frugality" ideology. This involves making every financial transaction worth the expense:

1. avoid any expense that appeals to vanity or snobbery

2. always go for the most cost-effective alternative (establishing small quality-variance benchmarks, if any)

3. favor expenditures on interest-bearing items over all others

Don't forget to follow........

Answer 2

Explanation:

Money management is the process of expense tracking, investing, budgeting, banking and evaluating taxes of ones money which is also called investment management.

Money management is a strategic technique to make money yield the highest interest-output value for any amount spent. Spending money to satisfy cravings (regardless of whether they can justifiably be included in a budget) is a natural human phenomenon

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