“My money are mine – how can I manage my budget – basics of finance“

Money is a form generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.

Money as the Medium of Exchange is the basic or primary function of money ?

Are coins, loans, debit cards, bank checks, money in various forms?

Is the payment the transfer of one form of financial goods, services or assets in exchange for another form of financial goods, services or assets in acceptable proportions, which have been previously agreed by all parties involved?

Is card payment a simple, fast and secure payment method for both the customer and the merchant?

Is the internet banking a form for payment orders, which can be given to a bank electronically, on paper or in any other agreed way?

Is cash flow the balance between expenses and income?

Is the budget an estimate of revenue and expenditure over a specified future time period and is it usually reassessed regularly?

Can budgets be made for a person, a family, a group of people, a business, a government, a country, a multinational organization or just about anything else that makes and spends money?

Does the frequency with which I review my financial plan depend on my age, the type of financial plan chosen and the purpose for which I made that plan?