How Financial Organizations and Professionals Define Money Management
“Money management is the process of budgeting, saving, investing, spending or otherwise overseeing the capital usage of an individual or group” (Investopedia).
“Money management refers to how you handle all aspects of your finances, from making a budget for where each paycheck goes to setting long-term goals to picking investments that will help you to reach those goals” (Quicken).
“Money management is the process of knowing where you are spending your money today and having a well-thought-out plan in place for where you want it to go in the future” (Balance Track).
“The good news, though, is that all of us can improve the security of our futures through financial literacy. With a better understanding of the basics of finance—how to save, budget and invest—we can increase both our earning potential and our prospects for a solid financial future.” – Reba Dominski, President of U.S. Bank Foundation
“I want kids to understand the importance of savings and investing. It’s crucial that people understand the importance of financial literacy, because it’s actually life-saving.” – Mellody Hobson, President of Ariel Investments