Introduction to personal finance

European Journal of Business and Management, 2017

Financial Management refers to the application of general management principles to the various financial resources which are projecting. This encompasses planning, organizing, directing and controlling of the financial activities. Financial planning is process of framing objectives, policies, procedures, programs and budgets regarding the financial activities. This ensures effective and adequate financial and investment policies, adequate funds have to be ensured, ensuring a reasonable balance between outflow and inflow of funds, ensuring suppliers of funds, preparation of growth and expansion programs which helps in long-run survival of the company, reduction of uncertainties with regards to changing market trends which the company could be faced with, ensuring stability and profitability. Keywords: management, finance, organization, growth

SOEFHWAN, 2022

Financial management can be interpreted as good fund management related to the allocation of funds in various forms of investment effectively as well as efforts to collect funds for investment financing or spending efficiently. Financial management is concerned with how to create and maintain economic value or wealth. The main objective of financial management itself is to maximize the prosperity of company owners or shareholders.

Journal of Management Research and Analysis, 2023

Whether you consider a household or a corporate, financial planning is must as it assists in achieving financial goals, managing funds, and maintaining financial solvency. The paper summarizes a descriptive and analytical approach of research study on the awareness and importance of financial planning, investment planning of people, their financial goals and how do they plan to achieve them. The research was carried out on a convenience sampling method where the respondents were asked about their current income, number of dependents, and their saving and Investment pattern which leads to financial planning as whole. Keywords: Financial planning, Financial objectives, Investment pattern, Current return on investment, Financial objectives

Financial Services Review, 1999

Financial planning is a broad subject that requires an integrating overview. The Model for Financial Planning incorporates the time and the expected nature of financial events. The categories of the model include 1) money management issues that the individual faces as short-term expected events, 2) issues of meeting unexpected financial events through an emergency fund and insurance, 3) investing to reach the individual's intermediate and long-term goals, 4) transference planning and other long-term issues whose time frame is unknown. The model has applications for "do it yourself" investors, financial planners, and students. The framework successfully integrates the broad range of topics typically covered in financial planning and personal finance courses.

Financialmanagementisanintegralpartofoverallmanagement.Itisconcernedwiththe dutiesofthefinancialmanagersinthebusinessfirm.Thetermfinancialmanagementhasbeendefined bySolomon,"Itisconcernedwith theefficientuseofanimportanteconomicresourcenamely,capitalfunds".Thus, Financial Management is mainly concerned with the effective funds management in the business. In simple words, Financial Management as practiced by business firms can be called as Corporation Finance or Business Finance. This paper provides the approaches and objectivestowards financial management.

The economic processes taking place in the economic environment are stochastic processes that involve and imply risks, arising from product diversification, competition, financial derivatives transactions: swaps, futures, options and from the large number of actors involved in the stock market with a higher or a smaller uncertainty degree. Competition and competitiveness, led to major and rapid change in the business environment, they determined actors participating in the economy to find solutions and methods of collecting and processing data, in such a way that, after being transformed into information they quickly help based on their analysis in decision making, planning and financial forecasting, having an effect on increasing their economic efficiency. In these circumstances the financial analysis, decision, forecasting and control, should be based on quality information that should be a value creation source. The active nature of the financial function implies the existence of a substantially large share of financial analysis, financial decision, forecasting and control.

TAFHIM: IKIM Journal of Islam and the Contemporary World, 2022

Financial planning is commonly associated with the management of debt. In reality, financial planning also includes money management, emergency planning, investments, and estate planning among others. Muslims in Malaysia generally lack of involvement in the matters concerning financial planning. It is evident when the majority of those

Dama Academic Scholarly Journal of Researchers | Published by: Dama Academic Scholarly & Scientific Research Society, 2020

Whether you’re a business or an individual, you have to find a way to manage your finances now and in the future. The cost of everything continues to increase and there’s no sign that this trend of price increases will stop anytime soon. As a result, all entities have to develop a financial management system to ensure their stability for many years to come. This system has to provide the businesses in question with enough flexibility for them to continue to grow and pay for their necessary expenses. It also has to be stringent enough to allow for money to be put away in the event of future catastrophes. In the case of a business, all expenses have to be prioritized in the interest of spending money on the right things. When it comes time for cost cutting measures to be implemented, they have to be come with consequences in mind. Everything that’s done to cut costs has an end result once it becomes a common procedure. You have to ponder whether you’re cutting enough or you’re cutting too much. Work has to be done to ensure that cutting individuals from the workforce is the last possible resort. Odds are there are expenses that can be sliced without having to touch the workforce. Individuals in the private sector have to manage their finances in the interest of being able to acquire credit. A person’s credit score can affect every possible aspect of their life. The biggest issue currently impacting the financial future of most people is the regular use of high interest credit cards. Most retail establishments try to push their credit card on their customers on a regular basis. These cards should only be used for small purchases that can be paid shortly after they have been completed. Financial management is a challenge in a world where spending is seen as the key to getting ahead. You have to exercise the utmost level of restraint if you want solvency to be in your future. Once you have established an effective budget, your worries about finances will become a thing of the past.

suripto, 2024

Hospital financial planning is basically a process of analysis, policy and projection that aims to help organizations achieve financial success. Budgeting is needed to allocate costs to certain activities that have been planned for a predetermined period of time. In addition, estimation is used as a systematic assessment tool for the success and/or failure of a policy or program in achieving the goals and objectives that have been set because estimation is an activity to track business performance whether it is in accordance with expectations or not. However, the lack of employee understanding of financial planning, budgeting and estimation has an impact on the efficiency and effectiveness of fund management. In addition, the lack of access to accurate financial data is a challenge in decision making. Therefore, training and socialization are very important for financial employees. With increasing literacy in Planning, Budgeting and Estimation, employees of PT. Medikarya Utama are expected to be able to carry out operational efficiency of the company.

Proceedings of the Volgograd State University International Scientific Conference "Competitive, Sustainable and Safe Development of the Regional Economy" (CSSDRE 2019)

The article deals with issues of financial planning and its tasks in modern models of enterprise management. The financial planning acquires relevance in modern conditions and is implemented by determining the most important indicators, proportions and rates of expanded reproduction. It is also the main form of enterprise's goal realization. This research shows various approaches of regional and foreign authors to the interpretation of financial planning concept. The object of financial planning is the financial activities, aimed to implement the functions of the enterprise's finances. The subject is the financial resources that are planned for economic activity and financial relations arising in the process of financial planning. They are regulated on the basis of methodological and organizational support. The authors proved that in order to define the term "financial planning" and the procedure for calculating financial plan indicators, it is advisable to take into account the mechanism of minimizing risks and balancing the level of profitability with them. The authors explored various models of strategic management in the financial planning system and proposed to consider the stage of concretization and coordination of financial policy for the planning period, since it determines the methods for calculating planned indicators and financial planning procedures in accordance with the conceptual approach. In order to choose a management model, one should take into account the industry affiliation, production and socioeconomic potential of an enterprise and the stage of its life cycle. The article also clarified the list of the main tasks and new directions of financial planning in the context of dynamically changing market conditions.