Finance is the study of, how money can be managed, also the process of generating funds with the help of some individuals for starting and growing their business. Simply we can note that it is the management of money which includes investing, renting, saving, lending budgeting and more.
Its main focus is how the money can be managed.
Different types of finance are -
· Personal finance
· Corporate finance or private finance
· Public finance (Government)
1. Personal finance is related to the finance strategies depend on an individual’s earnings, living requirements, goals and desires which, involves analyzing the present financial position to build the plan for future needs within financial control.
2. Corporate finance is defined as the financial activities which is related to the running a corporation. To oversee the financial activities the division or the department is set up.
3. Public finance includes taxing, spending, budgeting, and more which affect the government pays for services which are provided publicly, it is a part of fiscal policy.
Financial services are to gain financial services by an individual. It is the most important sector of the economy which provides the free flow of capital. It includes different financial firms, insurance companies, accounting services, real estate brokers, banks and more. This sector also note and tell the countries economy's conditions if the purchasing power of individuals rises which notes that it is a strong economy and if this falls down which notes it as a poor economy or also leads to recession stage.
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