Personal Finance

Personal finance refers to the management of an individual’s financial activities, including budgeting, saving, investing, and planning for future financial goals. It encompasses various aspects such as income management, expense tracking, debt management, retirement planning, and insurance coverage. The primary aim of personal finance is to ensure that individuals can make informed financial decisions to achieve their personal economic objectives, maintain financial stability, and build wealth over time. This discipline also involves understanding financial products, market trends, and strategies to optimize one’s financial position while minimizing risks. Proper personal finance management helps individuals prepare for emergencies, accumulate savings, and plan for significant life events like purchasing a home, funding education, or retirement.