Saturday, July 6, 2013

What is Personal Finance?

What is Personal Finance?

Personal Finance is a subject that has been receiving more attention in recent times. It primarily deals with managing money at an individual level. It is starkly different from Portfolio Management, Wealth Management etc. Personal Financial management is very important to ensure a sound financial health. Managing money requires a great deal discipline and patience. Personal Finance deals with a variety of investment goals like buying a house, retirement planning, planning for vacations abroad, children's education and marriage etc. Hence personal financial management has more to do with planning and saving for achieving certain investment goals.

Systematic Investments, timely savings, sound debt management, adequate insurance etc are some hallmarks of good personal financial management. Avoiding expenses is another great skill which deserves special attention while dealing with this topic. Other aspects of money management like portfolio management, asset allocation, credit cards etc are highly linked to the area of personal financial management. Please read on to check out the top five online resources on personal finance.

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