Important Financial Concepts:
 

• Income (money coming in) includes salary, business profit, remittances, and passive income.

• Expenses (money going out) are classified as fixed (same every month, e.g., rent) or variable (changes each month, e.g., food).

• Cash Flow is the balance between money coming in and going out; the goal is to keep it positive.
   

Budgeting, Saving, and Investing Tips:
 

• Prioritize Needs (must-haves) over Wants (nice-to-haves).

• Track daily expenses, even small ones, using a notebook or apps like "Spendee" or "Google Sheets".