Whether you're trying to set up your own business or are an employee at someone else's, managing your personal finances can be tricky if you don't know what you're doing. It's important to stay on top of your money, which means being aware of the many different types of money management that exist, from basic budgeting to investment strategy. The following four types of money management are ones that most people should be familiar with so that they can make educated decisions regarding their financial well-being.

1) Track your spending

If you want to get a handle on your finances, the first step is to track your spending. This means knowing where your money is going and how much you’re spending each month. There are a few different ways to do this, but the best way is to use a budgeting app or software. This will help you see where your money is going and make it easy to adjust your spending if necessary.

2) Track your income

Before you can start managing your money, you need to know how much money you have coming in. This seems like a no-brainer, but many people don't take the time to track their income. Knowing how much money you have coming in will help you make informed decisions about how to spend and save your money.

3) Take control of your finances

A lot of people go through life not really knowing much about money. They just kind of go with the flow, not really thinking about their spending or saving habits. But if you want to take control of your finances, it's important to understand the different types of money management. Below are four things you should know about them:

1) Budgeting is one way to manage your money. It is a financial plan that includes what you will be spending on each category of expenses and when they will happen during the year.

2) Another type of managing your money is tracking what's happening in the stock market. When you track stocks, all you have to do is watch how the price goes up and down from day-to-day and from week-to-week. The reason why this is so popular among many investors is because it's an easy way for people to make money without having to spend a lot of time looking at charts or graphs.

3) Next there's investing in the stock market which can be an extremely volatile process but also very rewarding for those who know what they're doing.

4) Budget for everything

Before you can begin to save or invest your money, you need to know where it's going. Track your spending for at least a month to get an idea of where your money goes and where you can cut back. Once you have a budget, stick to it as closely as possible. Try not to go over your budgeted amount in any category, but if you do the rest of the categories should cover it. If not, consider ways to reduce spending on other items so that you don't go over in one category again.