Finance. We hear that word thrown around quite a bit and used in phrases like in the world of high finance or financing options are available for those who qualify, but what does it really mean? It doesnt take an E.F. Hutton or J. Paul Getty to understand that the term finance and variations like financial, financing, financier, and such are related to monetary matters.
You may be surprised, however, just how many people have no real idea what is meant by finance. In fact, its safe to say that much of America has a better fix on the goings on inside the Big Brother house than they do on what happens at the Federal Reserve! This is sad, but true.
The American Heritage Dictionary of the English Language offers four definitions for the word finance.
They are:
1. The science of the management of money and other assets.
2. The management of money, banking, investments, and credit.
3. Finances Monetary resources; funds, especially those of a government or corporate body.
4. The supplying of funds or capital.
The third and fourth definitions are not what were dealing with here as they indicate the funds and capital belonging to a person, persons, or business entity (My finances are in total disarray!) and the act of lending money (I couldnt buy the new SUV because I didnt qualify for the financing.).
The first and second definitions, however, are right - continued below ...
