In: Finance
Discuss a management strategy used to retain or increase cash. Share an example of a time when you’ve used a similar strategy in your personal finances. How are the applications of these strategies similar or different for businesses and individuals?
Answer:
Management strategy used to retain or increase cash- Are as following:
Example of my personal life- This we do in our personal life as well, I make payments via debit or credit card, I keep less cash with me. I keep my all cash in saving account so that I can get some interest, I also go for short term and long term investment alternatives that give me income in the form of capital appreciation and dividend.
Some strategies are similar while some strategies are different, they differ from business to business and personal to person.