Personal Finance Meaning and Definition

Posted by Grace under Personal Finance on February 16, 2016

Looking for personal finance meaning and definition? What is meant by personal finance? What are the benefits it can give to every individual. If I will learn personal finance today, what can I get? Can I get rich by just knowing financial management? Many books, blogs and financial experts gave personal finance a meanings and definition. But it only one meaning, personal finance in my opinion is “financial management”. The moment you want to know how handle your finances properly is the moment you begin knowing “personal finance”.

I am talking about personal finance since 2013, I became interested because I found out that many rich people know how to;

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  • handle their money properly
  • manage their finances
  • budget their money
  • spend their money wisely
  • accumulate wealth

Therefore, anyone who wants to get rich should do what many rich people do. It is the “personal finance”. Personal finance has a big role in making you rich. Imagine if you don’t know how to handle your hard-earned money. Imagine if you just know how to earn money. You will end in working hard for a lifetime. In personal finance, you can learn how to make your money work hard for you, because of “investing”.

Aside from that, you can also learn how to retire comfortably. In personal finance, from your financial situation today until your retirement comes, you can determine how much money you really need every time your age and needs changed.

Personal Finance Meaning and Definition

Personal finance is the process of managing individual’s finances. It can help anyone to know how to save money for financial future, to spend money wisely, to budget money properly and to accumulate money.

personal finance meaning and definition

It means, it personal finance you will know not just how to save, but also how to invest. Saving won’t make your rich, investing is. Many people accumulate their money fast through investing.

Question: How can I start learning personal finance?

Answer: You can start learning personal finance in many ways such as;

  • reading personal finance books
  • reading blogs like Compound-Interest.net
  • attending financial literacy seminar
  • learning financial education formally in school
  • consulting certified financial planners
  • DIY do it yourself

That is how I defined personal finance. What about you? In your own opinion, what is meant by personal finance? I hope you learned something today. Believe me, learning personal finance can gave us many benefits, we will talk about those benefits in my next post. So, subscribe to this blog and start getting the latest updates. Do not forget to share this with your friends.

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