Managing personal finances has an impact on quality of life and personal fulfillment.
Personal Finance is about managing your money, savings and investments. It is about having control over you budget, banking, investments, retirement plans, tax, insurance and spending plans.
Personal finance is also about knowing the generally accepted ways of accumulating monetary wealth and keeping it.
The basic rules of personal finance
- Spend less thank you make
- Save for the future
For managing your personal finances there are also some basic principles
- Make financial freedom a goal
- Build an emergency fund
- Pay down your debt
- Have a budget plan
- Know your cash flow
- Save for retirement
- Invest in appreciating assets
- Learn the basics of financial planning
There are a lot more, but these are a good starting point.
This channel covers the processes, tools, techniques and steps to take ownership of our personal finances.