Definition of Personal Finance



Personal finance is an area of finance that deals with the financial goals of a person with respect to various aspects of a person. It covers the financial matters of a household, an employee, an employer, financial institutions even an entire financial industry.

 


Personal finance encompasses a range of financial services that are used by various individuals related to budgeting, spending, saving, investment, insurance, tax planning, and other financial matters. Most of the financial matters are technical and a layman may not be able to understand them properly. So they visit a financial advisor who has a better understanding of these matters and who can guide individuals for their financial betterment.


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