Answer to Question #304242 in Finance for Kelsey Jand

Question

Activity One - Financial Management

This module takes a look at financial management. This activity provides an opportunity to take an inventory of your own financial management.

Steps to Take

1. Please take an inventory in detail all the methods or tools you use for managing your cash flows.
2. Include all your accounts that are mediated through banks and finance companies.
3. Please list your cards issued by banks, such as debit or ATM cards, and identify any direct deposits and automatic payments that are made through your savings and checking accounts.
4. Do you think you might be able to further enhance your cash management through the use of banking tools?

Extra Directions: Respond to these promoters as if you were sixteen years old in high school as a sophomore student.

Answer 1

1. The methods used in the management of the cashflow in an inventory are making sure that the keeper stays on top of the of bookkeeping. The generation of the cashflow statements is also very important and matters to any inventory.in addition, the cashflows analysis is very important so that all the cash transactions are tracked real-time. Another important element is to ensure that you cut spending where there is need to so that to preserve more.
2. most people will opt to use the checking account to manage their daily transactions, direct deposit is also allowed the carrying out transactions where the where incoming funds are distributed regularly. automatic payment account is important account in payments. Debit account is normally used by the account holder to make payments for the purchases made.
3. Many banks issue ATMs and debit cards. With ATMs money is withdrawn from the bank direct into my account either cash or transfer while in the debit card, money is directly deducted from my account to make payments for the goods and services.
4. Yes, banking tools are important in making better financial management because they are safe custodian of our money.