The difference between Money and Finance

There are certain things in life that are confusing. As a result, people tend to interchange these terms. Take, for instance, love and lust, wants and needs. Our topic of discussion for today will focus on a set of these confusing terms, money and finance to be specific.

What is Money and what is Finance?

The best place where we can start is by defining these terms.

Money and Finance

Money is a medium of exchange, which in this day primarily is now coins and banknotes. This is the same money gamblers at casinos in usa and around the world use to make bets or wager on slots. That is generally, what money is. While on the other hand, finance is the management of large sums of money. This would explain where there is always that confusion between money and finances. Because like hand and glove, they at times work together.

Types of money and finance

To elaborate further on the difference between money and finance, we will give you the variations of money and finance.

Money

There are four different types of money. Commodity money is the simplest and the oldest type of money. It acts as a medium of exchange. Fiat money is a type of money that the government gives value to. The government that declares fiat money to have value and the rest of the people have to go with that. Fiduciary money is the type of money that depends on the value of confidence. This type of medium of exchange gets its value from the confidence that it will have value. The final type of money is commercial bank money. It comes from the portion of a currency generated from commercial banks. 

Finance

Unlike money that has four different types, there is only three type of finance. Personal finance involves funds revolving around a family. It is personal as it centres mainly on one's earnings. This is the only type of finance you should use to play online casino games at south african casino sites, unless if you want jail time. Corporate finance deals with running or managing the funds for a business or a corporation.

Usually corporate finance comes with a separate division specifically for the handling of these funds. Public finance revolves around funds that brought in by the public. Take, for instance, taxes, bills and of the like.

 

 

 

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