{"id":619,"date":"2010-10-01T06:50:14","date_gmt":"2010-10-01T13:50:14","guid":{"rendered":"https:\/\/maysfinancial.local\/"},"modified":"2017-02-26T02:01:59","modified_gmt":"2017-02-26T02:01:59","slug":"money-management-objectives","status":"publish","type":"post","link":"https:\/\/maysfinancial.local\/articles\/money-management-objectives\/","title":{"rendered":"Objectives of Money Management"},"content":{"rendered":"<p>Successful money management is the foundation of any financial planning. Without it, no matter how great our investing or retirement plans, they&#8217;ll likely fail. Money management has three primary objectives:<\/p>\n<h5><strong>Current Needs<\/strong><\/h5>\n<p><strong>1.<\/strong> Ensure sufficient funds are available to <strong>meet current payment and spending requirements.<!--more--><\/strong><\/p>\n<h5><strong>Emergency Fund<\/strong><\/h5>\n<p><strong>2.<\/strong> Ensure an <strong>adequate reserve <\/strong>of funds exists to be used as an <strong>&#8220;emergency fund&#8221;<\/strong> for unexpected costs, loss of job or other necessities.<\/p>\n<h5><strong>Long Term Goals<\/strong><\/h5>\n<p><strong>3.<\/strong> Ensure enough income is set aside for both <strong>long and short-term future goals<\/strong>, i.e. savings, retirement, education, additional debt payments, additional investments, new house\/car fund, etc.<\/p>\n<p>Your tools in this endeavor are continual analysis of <strong>net worth<\/strong> and <strong>cash flow<\/strong> (making adjustments when necessary), <strong>budgeting, saving strategies<\/strong> and constructing <strong>future goals<\/strong> with successive steps towards achieving them. <strong>Successful money management, like all financial planning, is a process not a product.<\/strong> Once your plan is established, reviews and <strong>adjustments should be made as necessary.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Successful money management is the foundation of any financial planning. Without it, no matter how great our investing or retirement plans, they&#8217;ll likely fail. Money management has three primary objectives: Current Needs 1. Ensure sufficient funds are available to meet current payment and spending requirements.<\/p>\n","protected":false},"author":1,"featured_media":3994,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[2,14],"tags":[33,151],"_links":{"self":[{"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/posts\/619"}],"collection":[{"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/comments?post=619"}],"version-history":[{"count":0,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/posts\/619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/media?parent=619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/categories?post=619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maysfinancial.local\/wp-json\/wp\/v2\/tags?post=619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}