Finance

Finance can encompass all the concepts of funds management. These can be divided into public finance, personal finance and business finance. For each of these types of entities, finance can describe saving, lending and investing money. The field involves time, risk, money and their interrelations as well as planning for these interactions.

Despite the large differences in size and scope, public, business and private finance tend to share man characteristics in common. Typically all of these entities can make and require loans, need to exhibit forethought in spending such as budgeting and have many other similarities. This is the essence of finance.