moonchild
VIP Contributor
Personal finance is a method of managing your own finance, expenses and any other financial related issues.
Personal finance is mostly an individual journey that every knowledgeable person has to undergo, because when we start making money we'd like to save, invest, make more and so on and so forth.
Personal finance provides that knowlegede hence making it indispensable in the field of finance.
As an individual, you should have a way of income generation, this could be from passive income, active income this could be Job, Business or other activities, without income survival will be at risk.
When income generation is covered the next line of action is investing, this get a little tricky because when it comes to investing there are many things we have to consider, before investing your hard earned income, you have to be sure of what you are getting into, like, how you'll be able to make money, risk management etc.
On the spending aspect of personal finance, this deals with the personal burn rate of an Individual, food they eat, clothe they wear and generally there taste in life, this can be hacked through several ways like creating a side Hustle that will take care of it or allocating a fixed budget for it.
Personal finance is mostly an individual journey that every knowledgeable person has to undergo, because when we start making money we'd like to save, invest, make more and so on and so forth.
Personal finance provides that knowlegede hence making it indispensable in the field of finance.
As an individual, you should have a way of income generation, this could be from passive income, active income this could be Job, Business or other activities, without income survival will be at risk.
When income generation is covered the next line of action is investing, this get a little tricky because when it comes to investing there are many things we have to consider, before investing your hard earned income, you have to be sure of what you are getting into, like, how you'll be able to make money, risk management etc.
On the spending aspect of personal finance, this deals with the personal burn rate of an Individual, food they eat, clothe they wear and generally there taste in life, this can be hacked through several ways like creating a side Hustle that will take care of it or allocating a fixed budget for it.
