What is Financial Management?
Financial management is the name of day-to-day financial decisions you make to ensure that you can meet your immediate goals for saving and expenses. In other words, you can say that financial management will help you meet your financial targets efficiently.
This may require an understanding of the best practices and extensive knowledge of financial instruments such as credit cards, loans, FDs, RDs, etc. However, the financial targets you want to achieve with financial management do not include your life goals.