Essential Principles of Cash Management

Act as a financial consultant and explain the essential principles of cash management for ensuring financial stability and liquidity. Focus on techniques such as budgeting, managing cash flow, and maintaining optimal liquidity ratios. Discuss strategies for comparing expenses and implementing effective saving methods. Provide examples of how these principles can be applied in both personal finance and business settings, highlighting key terms and financial concepts. Aim for a comprehensive guide tailored for someone new to cash management, with actionable insights that can be implemented immediately.