The value of money has become so important that one needs to critically plan it very well for financial stability in the nearby future.
A very big thank you to @stream4u for this wonderful topic for this week. I have really learnt a lot from this topic; money management and portfolio management.
After going through this topic I am able to come out with my own understanding on the following topics,
MONEY MANAGEMENT
Money management is the process of monitoring and planning a person's or a group's capital use, budgeting, spending, saving, and investing. This simply describes the process of raising and using capital.
Money management is a term used in the financial markets to describe the management of a portfolio.
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------- FUTURE PLAN ON MY MONEY MANAGEMENT
Personal future plans on money management are very important. These plans on one's finance help in insurance, budgeting, banking, mortgages, cash management, investment, retirement planning, and tax planning.
I will start my future plans on money management by outlining some goals taking all savings and investments into account. This requires considering financial short-term and long-term goals and different parameters associated with financial risk management. Personal financial activities include income generation, spending, saving, investing, and protection.
I will also discipline my spending habit since it is very critical for sound personal money management.
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FUTURE PLAN ON MY PORTFOLIO MANAGEMENT
My future plan on portfolio management would be implementing an investment strategy and deciding how to allocate capital across asset classes (like equity, debt, real estate, and gold), and securities (stocks, bonds).
This is to meet investor needs by taking the minimum possible risk.
I will be taking into consideration the external financial and economic conditions and developing a point of view about the future. Since market conditions undergo significant changes over a period of time, they need to be monitored and so that I can make appropriate changes in the portfolio to reflect future expectations.
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WHY MY LAST INVESTMENT FAILED
MY last investment failed because I didn't get enough time to study the legality of the company, I just wanted to make money. I also invested all the money I made back into the business.
CONCLUSION
Money and portfolio management is one of the many things one needs to consider in terms of finance.
A good planing of one's money can secure a better future.
@stream4u
Hi @blessingkasabe
Thank you for joining Steemit Crypto Academy and participated in the Homework Task 7.
Sorry for the Delay In Review, but you also did not tag me properlly as @stream4u within a post. Please make sure to tag professors properlly somewhere in a task to avoid delay in review.
Your Homework task 7 verification has been done by @Stream4u, hope you have enjoyed and learned something new in the 7th course.
Thank You.
@stream4u
Crypto Professors : Steemit Crypto Academy
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thank you professor @stream4u for this information
I promise to put up my best next time.
Hope to build myself fully in accordance with the rules of this noble community.
Thank you.
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professor @stream4u, please can I redo the assignment on money management and portfolio management.
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The week and the end date have already gone, you can do it if you want.
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