What is money management and how important is it?

Money management is the process of managing money which includes expense tracking, investment, budgeting, banking and taxes.

Well, the rule for success is to spend less than your income. If you want more spending, first increase income. This doesn't mean increasing spending doesnt help in certain times and situations (expansion needs money or energy) But overall, you need to follow the general rule, to maintain your financial success and financial balance. In this equation, sometimes you work on reducing useless spending, and other times you work on increasing the outcome, whatever comes first for you. The target being the same, spending < income. That's the whole point to money management, from my perspective at least. Working always towards the fulfillment of that equation: spending < income