What is Personal Finance? Personal finance refers to the management of an individual’s or a household’s finances. It involves making financial decisions and taking actions that can have a significant impact on one’s overall financial well-being. This includes various aspects such as budgeting, saving, investing, and managing debt. Budgeting is an essential component of personal finance as it helps individuals plan their expenses and allocate their income effectively. By creating a budget, individuals can track their spending habits, identify areas where they can cut back, and prioritize their financial goals.…
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