What is personal finance

The first step is understanding personal finance. According to Investopedia, “ Personal finance refers to how you manage your money, including your income, expenses and savings.

Personal finance is defined as the management of money and financial decisions for a person or family including budgeting, investments, Personal finance is everything to do with managing your money and saving and investing. It covers budgeting, banking, insurance, mortgages, investments,

Definition of personal finance: Use of the principles and techniques of corporate finance in an individual’s money affairs, Personal Finance. New Economic Data Shows Financial Life Is Stagnant Or Getting Worse For Many В· Erik Sherman,

Assuming they’re also a bit nerdy too, then Finance is Personal by Kim Stephenson and Ann Hutchins should be on their summer reading list. Spending less than you earn every month, keep the money in your wallet to a minimum and never make impulse purchases. Personal finance covers a wide variety of money topics including budgeting, expenses, debt, saving, retirement and insurance among others. Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit.