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It is easy to get overwhelmed by the task of getting your finances in order. You might even find yourself wondering what exactly finance is as it covers such a broad range of issues. On one hand, finance involves the management of funds. On the other, it includes the process of obtaining these funds in the first place.
We can group the field of finance into three main categories:
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- Personal finance – This area focuses on an individuals or a family’s financial status. It includes future strategies of funding and budgeting help.
- Corporate finance – This branch of finance is concerned with the activities and procedures involved in the financial side of running a business.
- Public finance – Also called government finance, this covers taxation, official expenses, debt issuance policies, and budgeting, payment of public services.