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Money management: meaning, definitions and examples

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money management

[ ˈmʌni ˈmænɪdʒmənt ]

Noun

Money matters

^{Context #1 | Noun}

personal finance

Money management refers to the process of budgeting, saving, investing, and spending money wisely to achieve financial goals. It involves making informed decisions about how to allocate resources effectively.

Synonyms

budgeting, financial planning, wealth management.

Which Synonym Should You Choose?

Word	Description / Examples
money management	General term for handling and controlling finances, including saving, investing, and spending wisely Good money management is essential to avoid debt and build savings. He's taking a course on money management to improve his financial skills.
financial planning	Long-term process of managing money to achieve personal economic satisfaction and goals. Often involves creating strategies for investment, retirement, and major purchases. Financial planning can help you save for your children's education. Meeting with a financial planner can help outline a path to retirement.
budgeting	Process of creating a plan to spend your money. Used when discussing allocation of funds for expenses and savings. Budgeting helps you keep track of your monthly expenses. She used a budgeting app to manage her finances efficiently.
wealth management	High-level professional service combining financial and investment advice, accounting and tax services, retirement planning, and legal/estate planning for affluent individuals. Wealth management services are designed for high-net-worth individuals. She hired a wealth management firm to handle her investments and estate planning.

Examples of usage

Good money management involves creating a budget and sticking to it.
Investing in diverse assets is a key aspect of effective money management.
Proper money management can lead to financial stability and security.

Translations

Translations of the word "money management" in other languages:

🇵🇹 gestão de dinheiro

🇮🇳 धन प्रबंधन

🇩🇪 Geldverwaltung

🇮🇩 manajemen uang

🇺🇦 управління грошима

🇵🇱 zarządzanie pieniędzmi

🇯🇵 資金管理 (しきんかんり)

🇫🇷 gestion de l'argent

🇪🇸 gestión del dinero

🇹🇷 para yönetimi

🇰🇷 자금 관리

🇸🇦 إدارة الأموال

🇨🇿 správa peněz

🇸🇰 správa peňazí

🇨🇳 资金管理 (zījīn guǎnlǐ)

🇸🇮 upravljanje denarja

🇮🇸 fjármálastjórnun

🇰🇿 ақша басқару

🇬🇪 ფულის მართვა

🇦🇿 pul idarəetməsi

🇲🇽 gestión del dinero

Etymology

The concept of money management has been around for centuries, with early forms of financial planning seen in ancient civilizations. However, the modern understanding of money management emerged in the 20th century with the development of various theories and practices in personal finance. Today, money management is considered a crucial skill for individuals and businesses alike, contributing to long-term financial success and stability.