Money is the lifeline for anybody.However,Money like other resources are always limited. On the other hand, wants are always unlimited.it is important for anybody to manage its Money efficiently. In short, Money Management is the Financial management.

Financial Management is a crucial for any business.A Business Organisation needs finances to obtain physical resources,to carry out productions and operations,pay salaries and wages etc.

Some definitions:

According to Solomon “Financial Management aims to effectively use the capital funds which also happens to be a significant Economic resources.

According to Howard and Upton, “Financial Management should be considered as an application of general managerial principles to the area of financial decision-making.

According to Phillippatus, “Financial Management is concerned with the managerial decisions that results in the acquisition and financing of short and long term credits for the organizations.”

After going through the Financial Management definition, it is understood that Financial management is crucial. Therefore , it is necessary task that every individual ,business or an organization needs to consider.

The Main objectives of Financial Management are:

1)Profit maximization: The main objective of financial management is profit maximization. The finance manager is responsible to assist in earning maximum profits for the Business organization.

2)Wealth maximization: Wealth maximization means Shareholders’ value maximization.it means to earn maximum wealth for the shareholders. The market value of the shares should be directly related to the performance of the company.So,the finance manager must try to maximize shareholders’ value.

3)Maintaining proper cash flow: The company must have a proper cash flow to pay the day-to-day expenses such as purchasing of raw materials, payments to salaries, rent, light bills, etc. If the company has good cash flow, it can take advantage of many opportunities such as taking cash discounts on purchases, large-scale purchasing, giving credit to customers etc.

4)Creative Goodwill:Financial management must try to create goodwill for the company. It must improve the image and reputation of the company.Goodwill helps the company to survive in the short-term and succeed in the long-run.

5)Efficiency: Financial management should facilitate increasing the efficiency of all the departments of the company. Proper distribution of finance to all the departments will increase the efficiency of the entire company.

There are three key elements to the process of financial management:

1)Financial Planning: Management need to ensure that enough funding is available at the right time to meet the needs of the business.funding may be needed to invest in equipment and stocks,pay employees and fund sales made on credit.In the medium and long term,funding may be required for significant additions to the productive capacity of the business or to make acquisitions.

2)Financial Control: Financial control is a critically important activity to help the business ensure that the business is meeting its objectives. Financial control addresses questions such as: Are assets being used efficiently? , Are the businesses assets secure? ,Do management act in the best interest of shareholders and in accordance with business rules?

3)Financial Decision making: Investments must be finances in some way-however there are always financing alternatives that can be considered. For example it is possible to raise finance from selling new shares. A key financing decision is whether profits earned by the business should be retained rather than distributed to shareholders via dividends.

All these areas of financial management apply to your personal life ,how families finances are managed are all related to financial management.

This is an example post, originally published as part of Blogging University. Enroll in one of our ten programs, and start your blog right.

You’re going to publish a post today. Don’t worry about how your blog looks. Don’t worry if you haven’t given it a name yet, or you’re feeling overwhelmed. Just click the “New Post” button, and tell us why you’re here.

Why do this?

• Because it gives new readers context. What are you about? Why should they read your blog?
• Because it will help you focus you own ideas about your blog and what you’d like to do with it.

The post can be short or long, a personal intro to your life or a bloggy mission statement, a manifesto for the future or a simple outline of your the types of things you hope to publish.

To help you get started, here are a few questions:

• Why are you blogging publicly, rather than keeping a personal journal?
• What topics do you think you’ll write about?
• Who would you love to connect with via your blog?
• If you blog successfully throughout the next year, what would you hope to have accomplished?

You’re not locked into any of this; one of the wonderful things about blogs is how they constantly evolve as we learn, grow, and interact with one another — but it’s good to know where and why you started, and articulating your goals may just give you a few other post ideas.

Can’t think how to get started? Just write the first thing that pops into your head. Anne Lamott, author of a book on writing we love, says that you need to give yourself permission to write a “crappy first draft”. Anne makes a great point — just start writing, and worry about editing it later.

When you’re ready to publish, give your post three to five tags that describe your blog’s focus — writing, photography, fiction, parenting, food, cars, movies, sports, whatever. These tags will help others who care about your topics find you in the Reader. Make sure one of the tags is “zerotohero,” so other new bloggers can find you, too.