Money Management is the process of budgeting, saving, investing, spending or otherwise overseeing the capital usage of an individual or group. The term can also refer more narrowly to investment management and portfolio management.Budgeting is perhaps the most important aspect of money management. It involves setting goals and then determining how best to allocate one's financial resources in order to achieve those goals. Saving refers to setting aside money on a regular basis in order to be able to meet future financial needs. This can be done in a variety of ways, such as through a savings account at a bank or credit union, by investing in stocks or mutual funds, or by purchasing life insurance.Investing involves putting money into something with the expectation of earning a return on that investment. Common investments include stocks, bonds and real estate. Spending refers to using one's income for current consumption purposes rather than saving it for future use. Money that is spent wisely can help improve one's standard of living while still providing for future needs."
