Personal Finance

Personal finance refers to the management of an individual’s or household’s financial activities and decisions. This includes budgeting, saving, investing, and planning for future financial goals such as retirement, education, and major purchases. Personal finance encompasses various aspects, including income management, expense tracking, debt management, and understanding financial products such as loans, insurance, and retirement accounts. The primary goal of personal finance is to achieve financial stability and security while effectively allocating resources to meet short-term needs and long-term aspirations. It involves assessing one’s financial situation, setting goals, and implementing strategies to improve overall financial well-being.