Introduction
Golden Statement
"Beware of little expenses because a small leak will sink a great ship."
If you spend money carelessly, it can ruin your budget.
1. What is Personal Finance?
Personal finance means “personal money management” i.e. how to spend and save your money. In personal finance, you consider all the possible financial aspects including:
- Salary (income)
- Budget
- Monthly expenses
- Bill payments
- Shopping
- Bank accounts
- Credit card payments
- Home/personal loan (EMI)
- Investments in stock market
- Insurance premium
- Asset
- Liability
- Future planning (retirement planning, child education, or tourism)
Every person thinks differently about earning, spending, and investing money. Therefore, managing finance becomes a personal subject.
This Post explains how to effectively manage your money.
2. Personal Finance - Topics
This Post will elaborate every aspect and nuance of personal finance. It will cover the following topics:
i. Concept of personal finance.
ii. Categories of personal finance.
iii. Money management.
iv. Expense management.
v. Earn interest.
vi. Debt management.
vii. Use of credit card.
viii. House – renting vs buying.
ix. Car – renting vs buying.
x. Taxation processes.
xi. Insurance policies.
xii. Higher education for children.
xiii. Money management apps.
xiv. Secure bank transactions.
xv. Importance of will.
Key Outcomes
- Don’t spend money carelessly
- Make a budget to manage your money
- Use money management apps
- Learn all the aspects of personal finance