Personal Finance

Personal finance refers to the management of an individual’s or household’s financial activities, encompassing budgeting, saving, investing, and planning for future financial needs. It involves making informed decisions about income and expenditures, understanding financial products such as loans and insurance, and preparing for long-term goals like retirement and education funding. Personal finance emphasizes the importance of creating a balanced budget, managing debt effectively, building an emergency fund, and investing wisely to grow wealth over time. It also includes understanding and improving one’s credit score, tax considerations, and financial planning for major life events. Overall, personal finance aims to enhance an individual’s financial literacy and ensure a stable and secure financial future.