Be the topper - all notes

            What is Financial Planning?  In this chapter, we will discuss 1. Setting Goals 2. Analysing Information 3. Creating a Plan  4. Implementing the Plan  5. Monitoring and Modifying the Plan.  What is Financial Planning?  Planning - is the process of making plan. But when we want to achieve a financial goal, we do financial planning. In which we define goals, develop a plan to achieve them, and putting the plan into action. Like: If you want to buy a car of 4,00,000. You should make a financial plan. You will write that how much savings you have, how much you can earn, how many expenses you can avoid for now, how much money you can borrow from your friends and family, how much money you can invest in banks or stock market etc.  Many people make plan but why there plan is not successful?  Now we will discuss some important factors about how to make a plan.  1. Set Goals: In this part you should decide the goal which you want to achieve. Like : you want to score 90% in class 9t

 Hello guys these are the notes of chapter 3 of class 9 fmm.  Key Characteristics Of Money Functions of money : 1. Medium of Exchange :  Money brings simplicity and organization to our economy.  Earlier people used medium of exchange like salt, cheese and gold etc. 2. Standard of Value or a unit of Account Money is a common item in which the process of goods and services can fit.  Like : A pen would cost ₹ 5 , is the common standard value of the pen.  3. Store of Value  You can store money anytime and  anywhere.  Suppose you received apples as money and you want to save them, then would you be able to save them for 1 year?  No  Whereas, if you have received ₹100 as money then you can save it for so long period.  Notes of chapter 1 Notes of chapter 2 Money is easy and convenient to save. Therefore instead of commodities, metal coins and paper currency are used as money.  Money simplifies the trading process.  For more explanation, Click here There are general characteristics for accepta

 Hello guys these are the notes of chapter 2 of class 9 fmm. (Financial Markets Management) . • Money is anything that is commonly accepted by a group of people for the exchange of goods, services or resources. • People were busy worrying about survival - food, clothing, shelter etc.  • Barter system - exchange of commodities for commodities. •• Specialization - people become more skilled and can produce more things. For full explanation, Click here.  Through specialization people's skills improved enabling each person, and hence the society, to produce more things of better quality.  •• Trade - buying and selling of products and services is called trade. •• Surplus is beyond your personal and household needs. Then the surplus is used in trading in order to acquire the goods and services produced by others.  • If the surplus is more , then the individual will have more potential to acquire the goods and services.  Notes of chapter -1 .  •• Wheel of economic progress -  1. Innov