What Is The Exact Meaning Of Personal Finance?

[Good-Guy]

Finance is a kind of field that involves many aspects. Actually, there are many kinds of finances. One such kind of finance is personal finance. Personal finance plays a crucial role in the investment projects and even businesses. The term personal finance refers to the funding process of a family or a person who is willing to invest his own funds in an investment project or investment opportunities. There are many definitions provided by many online sources regarding personal finance. However, the fact of the matter is that personal finance is a quite vast term and it involves many things.

I personally think that personal finance involves management of finances, proper budget planning, personal investments, strategies involving income growth, payment of taxes on personal financial activities, management of personal capital, evaluation of personal disposable income, future planning, proper assessment of financial goals, management of personal assets, etc. There is a lot to cover in here regarding personal finance. In fact, some online sources also suggest that personal finances also involves pension management and other kinds of strategies related to old-age plans. So, what do you understand by the term Personal Finance? How would you define it in the right manner?

 

[Augusta]

I believe that personal finance is encompassing but the keyword is that it has to do with an individual and no other contributors not banks or other financial houses. I think it is the used of one's stored funds or money for the establishment of any investment or business. I think personal finance is the best bet for any one starting a business.

A new business can't stand the issues that comes with loans like the repayment plans and Interest. So the best thing is trying to always finance this on your own and hope that it comes up excellent as expected.

so personal finance is the management of one's income, investment,expenses and liabilities to gain solid control of one's finances. This is important for everyone.