3. Cash Flow Management

Cash flow management is the process of tracking, analyzing, and optimizing the money coming in and out of a business or personal finances. It involves monitoring income sources, such as sales or wages, and expenditures, like bills and expenses, to ensure that there is enough cash available to meet obligations. Effective cash flow management helps prevent financial shortfalls, allows for better budgeting, and promotes sustainable growth by ensuring that resources are available for investments and unexpected costs. Essentially, it's about maintaining a healthy balance between income and spending.