"Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events."
Understanding the basics of banking, budgeting, and investment.
Budgeting: Creating a spending plan to track and manage income and expenses.
Saving: Setting aside money for future use, such as emergency funds or retirement.
Investing: Putting money into assets that can potentially grow in value over time. Examples include stocks, bonds, and real estate.
Credit: Understanding and using credit effectively, including credit scores, credit reports, and credit cards.
Debt: Managing and paying off debt, including credit card debt, student loans, and mortgages.
Taxes: Understanding and managing taxes, including income taxes, payroll taxes, and deductions.
Retirement: Planning for retirement and understanding retirement savings options, such as 401(k)s and IRAs.
Estate Planning: Planning for the transfer of wealth and assets after death, including wills and trusts.
Insurance: Understanding and managing insurance, such as health insurance, life insurance, and homeowner's insurance.
Net Worth: Calculating and tracking personal net worth, which is the difference between assets and liabilities.
Frugality: Living below one's means and maximizing the value of every dollar spent.
Financial Goals: Setting and achieving financial goals, such as saving for a down payment on a house or paying off debt.
Budgeting: The process of creating a financial plan to manage income and expenses.
Saving: Putting aside some money for unforeseen circumstances or meeting future goals.
Investment: The act of committing money to a particular financial instrument or asset in the hope of earning a profit or an income.
Taxation: The legal, financial obligations that a person has to their government according to their income.
Retirement Planning: The process of planning for financial needs after retiring from regular employment or work.
Debt Management: Strategies for managing debt and minimizing its impact on personal finance.
Credit Score and Credit Reports: Understanding the credit score system and how to maintain a good credit score, as well as how to view and understand credit reports.
Insurance: Protection against financial losses resulting from risks like accidents, illnesses, and unexpected events.
Estate Planning: The process of managing and distributing assets and wealth after death.
Financial Planning: The process of articulate financial goals and creating a plan to achieve them over a set period of time.
"When planning personal finances, the individual would consider the suitability to their needs of a range of banking products (checking, savings accounts, credit cards and consumer loans) or investment in private equity, (companies' shares, bonds, mutual funds) and insurance (life insurance, health insurance, disability insurance) products or participation and monitoring of and- or employer-sponsored retirement plans, social security benefits, and income tax management."
"Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events."
"…a range of banking products (checking, savings accounts, credit cards and consumer loans)..."
"…investment in private equity (companies' shares, bonds, mutual funds)..."
"…and insurance (life insurance, health insurance, disability insurance) products…"
"…participation and monitoring of and- or employer-sponsored retirement plans…"
"…social security benefits…"
"…income tax management."
"The individual or a family unit performs [personal finance]."
"[Personal finance is] to budget, save, and spend monetary resources over time."
"[Personal finance is] to budget, save, and spend monetary resources over time."
"[Personal finance is] to budget, save, and spend monetary resources over time."
"[Personal finance is] taking into account various financial risks and future life events."
"When planning personal finances, the individual would consider the suitability to their needs…"
"[Personal finance involves] investment in private equity (companies' shares, bonds, mutual funds)..."
"[Personal finance involves] insurance (life insurance, health insurance, disability insurance) products…"
"[Personal finance involves] participation and monitoring of and- or employer-sponsored retirement plans…"
"[Personal finance involves] income tax management."
"Personal finance is the financial management which an individual or a family unit performs…"