Financial management is the efficient and effective management of funds that helps meet the organization’s financial objectives. These tips can help solidify the organization’s finance efforts:

1. Organize the organization’s finances by developing a financial management system that produces monthly financial reports.
2. Create or develop a realistic budget and spend less than what the organization earns.
3. Put the money at work. Find creative ways to diversify the income and take advantage of the time value of money.
4. Understand risk and;
5. Plan for the unexpected.