Entrepreneurship
Example:
You open a lemonade stand that pays 2$ per cup. You spent 5$ on cups, 7$ on lemons, 3$ on sugar, and 10$ for the table. At the end of the day you sold 20 cups of lemonade, enough to cover the total expenses and leave with a profit of 15$. Your cash flow would be the amount of lemonade you sold compared to the amount you paid on supplies.
Financial management is important for businesses to be successful. Budgeting helps you plan how to use your money wisely, while cash flow management ensures you have enough money to cover your expenses. Being financially literate as an entrepreneur means you understand how to manage your money effectively, making smart decisions to help your business grow and thrive.