What is the first step of financial management process?
Setting goals
What is the example of variable expenses?
petrol expenses, groceries and electrictiy bill
What is key components in SMART?
Specific, Measurable, Attainable, Realistic and Time-bound
What is the example of fixed expenses?
rent, insurance payments, housing loan instalments and etc
Types of financial goals
short-term and long-term
What is the last process of financial management?
Reviewing and revising the progress
Types of the sources of income
Active income and Passive income