BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

FINANCIAL MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Personal financial management simply means gaining an understanding of your financial situation in order to make the most of your assets in day-to-day life and in planning for your future.
A
True
B
False
Explanation: 

Detailed explanation-1: -Personal financial management (PFM) refers to software that helps users manage their money. PFM often lets users categorize transactions and add accounts from multiple institutions into a single view. PFM also typically includes data visualizations such as spending trends, budgets and net worth.

Detailed explanation-2: -Why Is Personal Finance Important? Personal finance is a vital part of not only managing your day-to-day financial needs but also planning your financial future. The sooner you get a grip on personal finance, the better your long-term financial prospects will be for things like investing or planning for retirement.

Detailed explanation-3: -They are saving, investing, financial protection, tax planning, retirement planning, but in no particular order. Here are the 5 aspects of a complete financial picture: Savings: You need to keep money aside as savings to cover any sudden financial need.

There is 1 question to complete.