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    What is a successful money management strategy for handling personal finances?

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    Using websites, library sources, friends, relatives, and others, obtain information on common suggestions for successful money management. Use this information to determine a successful money management strategy. Provide a list of your sources.

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    Solution Preview

    Using websites, library sources, friends, relatives, and others, obtain information on common suggestions for successful money management. Use this information to determine a successful money management strategy. Provide a list of your sources.

    Step 1

    There are several suggestions for successful money management. Some of these suggestions are related to investment management and the methods to be used to select investment when there is ambiguity. An important question related to investment management relates to the risk the firm needs to take to make an investment.

    When a person/firm uses money management techniques the person improves her control over the money that goes out and over money that comes in. The techniques of money management can be used in investment in stock as well as futures trading. When a person is investing in stock then successful money management requires that the person should maximize her winning trades and minimizing losses. Some of the most important suggestions for money management are setting up budgets, breaking down and studying costs and examining income.
    Suggestions for successful money management involve investment, budgeting, banking and taxes.

    Step 2

    In case of money management related to individuals, the purpose is to make money yield the highest interest yielding value for any amount spent. In case of ...

    Solution Summary

    This solution discusses succesful money management in 800 words with two references.

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