King bell
VIP Contributor
Personal financing encompasses anything that has to do with money spent on yourself and your family. From buying food, clothes, or the latest gadget, to paying for education, personal health care costs, and retirement savings - it's all part of personal finance.
Personal finances can be stressful. Between unexpected emergencies like car repair bills and the need to save enough for retirement as well as paying off debt or putting aside funds for future expenses such as college tuition - it can seem impossible at times. But by building a plan based on your individual needs and taking small steps every day you'll feel more in control of your finances. You'll find yourself moving towards your goals instead of being stuck in place from worry about the next expense that comes up.
Personal finance also includes using your money in a smart way so that you are building wealth - the ability to pay for the things you want without depending on credit.
What personal finance encompasses varies depending on who you ask.
The American financial services company, USAA, describes personal finances as "taking control of your financial life by planning your money and taking action every day." The Money Doctor's website calls it "the art of getting what you need with what you earn." In Canada, personal finance is described as being about managing income and expenses prudently in order to save and invest more.
Personal finances can be stressful. Between unexpected emergencies like car repair bills and the need to save enough for retirement as well as paying off debt or putting aside funds for future expenses such as college tuition - it can seem impossible at times. But by building a plan based on your individual needs and taking small steps every day you'll feel more in control of your finances. You'll find yourself moving towards your goals instead of being stuck in place from worry about the next expense that comes up.
Personal finance also includes using your money in a smart way so that you are building wealth - the ability to pay for the things you want without depending on credit.
What personal finance encompasses varies depending on who you ask.
The American financial services company, USAA, describes personal finances as "taking control of your financial life by planning your money and taking action every day." The Money Doctor's website calls it "the art of getting what you need with what you earn." In Canada, personal finance is described as being about managing income and expenses prudently in order to save and invest more.
