Discuss the broad areas of financial decision making.
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Three broad areas of financial decision making are capital budgeting, capital structure and working capital management. ... As strategic planning calls for evaluating costs and benefits spread out over time, it is essentially a financial decision process.
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Budgeting is a very vital aspect when it comes to financial matter and expenditure. However financial decision making does not entail the expenditure sector alone.
Savings is another key aspect when it comes in deciding where to allocate money. It prepares an individual for future demands and security.
Money being a scarce commodity should therefore be economized and spent wisely.
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