What term could describe the systematic allocation of funds to different areas of needs?

The term that best describes the systematic allocation of funds to different areas of needs is financial planning. Financial planning involves setting goals, assessing current financial resources, and determining how to allocate funds effectively to meet those goals while addressing various needs. It encompasses budgeting and strategizing to ensure that resources are distributed in a manner that aligns with an individual's or organization's priorities, allowing for both immediate and long-term financial health.

While a spending plan might focus specifically on how to use funds over a certain period, it does not necessarily encompass the broader strategic approach of setting goals and analyzing resources. Asset management generally refers to managing investments and assets for growth and income rather than the systematic allocation of funds across different needs. Resource allocation is a broader concept that can apply to many contexts, including non-financial resources, and doesn't specifically focus on managing financial resources in a systematic way aimed at budgeting for needs. Thus, financial planning stands out as the most relevant term for this context.