Money management

[Alexandoy]

You don't just go into a business without having an accountant and managers in place, if you are running a business on your own without these people in place then the risks of you falining in the business will be high because you won't be able to control every resources of the business organisation.

You only hire an accountant and manager if your business is big and that you have other things to do that you cannot manage your business. For a small starting business you do everything on your own that is why you are susceptible to financial mistakes like giving big discounts.

 

[Shigobad2020]

The money management is suppose to be done by the owner of the business of the business is not big, but if the business is becoming big and its expanding, then you need to hire someone.

 

[kayode10]

Personal Finance is the basis of money management. It is very important to get the personal finance right so I should be good at money management. Someone needs to be able to differentiate between asset and liability.

 

[Godspower]

The money management is suppose to be done by the owner of the business of the business is not big, but if the business is becoming big and its expanding, then you need to hire someone.

This is very true. If the financial transactions of a business increases to the level where a business owner can no longer track, then it is advisable to get someone qualified to handle that aspect.

 

[Sotherefore]

You only hire an accountant and manager if your business is big and that you have other things to do that you cannot manage your business. For a small starting business you do everything on your own that is why you are susceptible to financial mistakes like giving big discounts.

Most smaller business are not really difficult to manage because you can easily make appropriate calculation of all the expenses compared to large business, I don't believe people can be susceptible to financial lost if they are reat serious, although in most cases this is always the truth.

 

[Shigobad2020]

Most smaller business are not really difficult to manage because you can easily make appropriate calculation of all the expenses compared to large business, I don't believe people can be susceptible to financial lost if they are reat serious, although in most cases this is always the truth.

If you at not careful in separating your actual money with your business fund in small business, you might mismanage the fund and find it difficult to know where the problem is coming from.

 

[Dagm1]

Money management is critical to your financial well-being. Taking out loans to buy expensive items is the most common error people make. Then they have no idea how they're going to pay it back.

 

[kayode10]

It is very important to have a good personal finance if you want financial disaster have to you. There are some people who find themselves in financial mess when they don't have good money management.

 

[Sotherefore]

If you at not careful in separating your actual money with your business fund in small business, you might mismanage the fund and find it difficult to know where the problem is coming from.

I don't really know but I believe most smaller business over here do not really have time to engage in so much calculation, I don't know how they're doing it but they are not so interested in the financial aspect of the business.

 

[Shigobad2020]

Money management is critical to your financial well-being. Taking out loans to buy expensive items is the most common error people make. Then they have no idea how they're going to pay it back.

We need to cautious on how we spend our money with non-challant attitude because that's the main reason why most of the people go broke and its not good to be adding your business money to your personal money.

 

[Kaffyfolla]

Money management is the process of tracking expenses, investing, budgeting, banking, and assessing tax liabilities; it is also called investment management. Money management is a strategic technique to deliver the highest interest-output value for any am

 

[mayumi97]

One of the common mistakes one can make when starting a small business is going overboard on the expenses. While it is understandable for businesses to spend substantially on production, selling, and marketing efforts, it can save considerably on other non-core sections of the business by outsourcing services on demand. Instead of spending heavily on office decors, one can just use the money to provide value-added services to customers. In business or in personal life, we must be able to set our priorities and place our money where it matters most and where it can give us better returns.

 

[tyrim88]

Money management is a must if you want to be successful, I think so and believe successful people manage their money very well. Hope everyone share the best money management I've ever tried

On of the things that will determine whether one will be cash deficient in his financial planning,is his discipline with the way he appropriate and spend money.money should be put where it will bring in value.And that is a good financial approach.

 

[Setho]

I believe perhaps the most difficult and painful mistake that a lot of people usually make is that they try to copy others not knowing that everybody is unique in their own way.

 

[Smiles20]

Your ability to be able to manage money is definitely going to be very crucial when it comes to making money online as well. This is why it is important that you should only spend the money and something that is important to the growth of your business.

 

[Sotherefore]

This is very important than we might even be thinking, a lot of people believe that as long as their business is successful that they do not have to manage the resources they have. This is not the right thing to do , no matter how successful a business could be it is always very important to effectively manage every resources that comes in and out of the business.

 

[Godspower]

In order to be a successful individual or a business owner money management is an important factor, in your opinion what is the biggest mistake that people do when managing their financial life? I think its over spending in a short amount of time? what do you think?

Money management is very important and it is a skill every business minded individual should have. It can make the difference between a prosperous business and a bankrupt business.

 

[Shigobad2020]

Your ability to be able to manage money is definitely going to be very crucial when it comes to making money online as well. This is why it is important that you should only spend the money and something that is important to the growth of your business.

If you want to be able to save and be succesful in your business , you must learn how manage your earning either online or offline earning , because there will be a time , when the money (Income ) will stop flowing.

 

[Godspower]

If you want to be able to save and be succesful in your business , you must learn how manage your earning either online or offline earning , because there will be a time , when the money (Income ) will stop flowing.

Apart from money management, you must exhibit discipline in a lot of other areas. You must also be ready to take important decisions that will help your business no matter how difficult it may appear.

 

[Heatman]

Whenever business is included, you're not supposed to be spend more money than you earn. Once you do that, your business is going to crumble as quickly as possible. You're even going to go bankrupt, so over spending isn't good for anyone at all and definitely not for new businesses.