money management principles

Money management involves planning and controlling your finances to achieve your financial goals and maintain stability. Key principles include budgeting—tracking income and expenses to ensure spending doesn’t exceed earnings; saving regularly for emergencies and future needs; avoiding unnecessary debt by spending within your means; and investing wisely to grow wealth over time. It's important to review and adjust your financial plan periodically, stay disciplined, and prioritize needs over wants. Good money management helps you make informed decisions, reduces financial stress, and sets the foundation for financial security and freedom.