Personal Finance

Personal finance refers to the management of an individual’s financial activities, including budgeting, saving, investing, and planning for retirement. It encompasses the decision-making process involved in managing one’s income and expenses, understanding one’s financial situation, setting financial goals, and implementing strategies to achieve them. Personal finance also includes managing debt, understanding credit, navigating taxes, and making informed decisions about financial products and services. The primary objective of personal finance is to enhance an individual’s financial security and well-being through effective management of resources. This includes creating a budget to track spending, saving for emergencies or future goals, investing to grow wealth, and planning for major life events such as purchasing a home or funding education.