BU233 Chapter Notes - Chapter 2: Home Computer, Current Liability, Cash Flow Statement
Document Summary
Chapter 2 money management strategy: financial statements and. Money management: day to day financial activities necessary to manage current personal economic resources while working toward long-term financial security. Keeping an effort to maintain financial records and planning your spending is essential. Spending on current living expenses reduces amount you can use/save for investing for long- term financial security. Buying on credit results in later payments that reduce amount of future income available for spending. Using savings for purchases results in lost interest earnings and inability to use savings for other purposes. Comparison shopping can save you money and improve the quality of your purchases but uses so(cid:373)ethi(cid:374)g you ca(cid:374)"t replace: time. Most financial records are kept in one of three places: a home file, series of folders in cabinets or even a cardboard box, a safety deposit box, private storage area at a bank requires a key. Important financial records and valuable articles should be kept in this location: ex.
