What Is Finance?
Finance is a term for matters regarding the management, creation, and study of money and investments. Finance can be broadly divided into three categories:
- Public finance
- Corporate finance
- Personal finance
There are many other specific categories, such as behavioral finance, which seeks to identify the cognitive reasons behind financial decisions.
Understanding Finance
"Finance" is typically broken down into three broad categories: Public finance includes tax systems, government expenditures, budget procedures, stabilization policy and instruments, debt issues, and other government concerns. Corporate finance involves managing assets, liabilities, revenues, and debts for a business. Personal finance defines all financial decisions and activities of an individual or household, including budgeting, insurance, mortgage planning, savings, and retirement planning.
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