What are the three money management activities?

The three main money management activities are: storing and maintaining financial records and documents, (creating personal financial statements) and (creating and implementing) a budget. This preview shows page 3 - 5 of 10 pages. Chapter 03 MONEY MANAGEMENT - Hardware Solutions, doc. This final result is calculated by adding up the money received from the sale of assets, repaying loans, or selling shares and subtracting the money spent on buying outstanding assets, stocks, or loans.

One of the hardest things about budgeting and managing money can be keeping track of what you spend. Assuming that toothbrushes sell well, the financial manager will collect data to help the management team decide whether to spend the profits on producing more toothbrushes, starting a mouthwash line, paying dividends to shareholders, or taking some other action. If your income allows it, deliberately overestimating the money you need to pay bills could help you find additional money for expenses. The financial manager projects how much money the company will need to maintain positive cash flow, allocate funds for growth, or add new products or services and deal with unexpected events, and shares that information with business colleagues.

If you're not sure how to manage your money or need help controlling your finances, you can use the Australian Government's Financial Reporting Service. Basic money management is to cover your family's daily expenses, manage unexpected bills, and save for the future. Cash flow analysis helps your finance team better manage cash inflows and outflows, ensuring that there is enough money to manage and grow the business.