Types of finance and explanations.
Finance is the backbone of every activities or any business or investment you may think of going into. Finance includes budgeting, forecasting, borrowing and lending and investing into one or more activities. the role of finance is very crucial to human life. as we have already discussed the meaning and importance of finance in our previous post, now we are diving into the types of finance.
Finance is one of the biggest thing that can make, improve and move everyone’s life to a better level, no good finance no improvement.
You already know that personal finance, is the management of personal financial activities which includes planning, income generation, saving, spending, investing and financial protection. The way people manage their finance will determine their success in very business which they are involved in.
Recommended, How to Plan and Control your Money
In this post we are going to round up the three types of finance, continue reading to know the types of finance and how to make and manage your income.
The three types of finance includes the following.
1. Personal finance
Personal finance is the process of planning and income management. personal finance includes the activities like, income generation, saving, investing, investing, spending and all round financial protection. The process of managing one’s income can be summarized in a budget of financial plan.
2. Corporate finance
Corporate finance is the capital or financial shape or structure of a corporation which includes funding and income management of the corporation which can take to the increase in worth or value of company.
3. Public/Government finance
Public finance is the management of public or country’s revenue, debt loan and expenditures through govevrnment and quasi- government institutions. Country’s financial position can be evaluated in the same way as a business finance statements. Public finance is helps a lot in all round financial management of a country, which includes the country’s annual budget, spending and investing, plus savings. Country’s good financial management is a big way to enable the rapid development of any country.
Read Also, INTRODUCTION TO PERSONAL FINANCE.
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