Which term refers to the process of creating a plan to spend and save money?

The term that describes the process of creating a plan to spend and save money is budgeting. Budgeting involves setting financial goals and outlining how to allocate income toward various expenses, savings, and investments over a specific period. This process helps individuals manage their finances effectively, ensuring they live within their means while also planning for future financial needs and goals.

Through budgeting, individuals can prioritize spending, identify areas where they can save money, and make informed decisions about their financial future. It serves as a roadmap for managing resources, making it easier to track progress and adjust spending habits as necessary.

Other terms like investment management, financial analysis, and cash flow tracking relate to different aspects of finance, such as managing investments, assessing financial data for decision-making, and monitoring the flow of cash in and out of an account, respectively. However, none of these directly refer to the creation of a spending and savings plan in the way budgeting does.