Personal finance is the process by which individuals achieve their financial goals by planning and managing their own financial resources. It covers income, expenses, savings, investments and many other aspects. Control consumption and accumulate wealth by formulating reasonable budgets and savings plans; reduce risks and obtain returns through diversified investments. Personal finance is not only related to the current quality of life, but also related to future financial security. Mastering personal financial management skills can allow us to better control our own financial situation, achieve wealth appreciation and improve the quality of life.
What is personal finance
- Thread starter qqq111
- Start date
-
- Tags
- personal finance
King bell
VIP Contributor
Personal finance is the supervision of financial resources of an individual including budgeting, saving, investing, spending and planning for future objectives. It encompasses making informed decisions about wages, wealth and debts to achieve stability and success. Key constituents are creating budgets to follow income and outgoings, setting money for crises or long-term dreams, sensibly handling financial liabilities, purchasing a variety of securities, retiring early before becoming too old to work effectively; insurance policies; tax plans or strategies; estate planning. Personal finance is a lifelong journey that requires education, discipline and adaptability. Individuals can gain independence with regard to money by being in charge of their own finances while also having some level of safety hence getting better as far as their lives are concerned.
Similar threads
