What is an example of personal finance?
According to Christensen, examples of personal finance might include: Planning your monthly spending. Balancing your checkbook or debit account. Transferring money from your checking account to your savings account.
What is personal finance?
According to Investopedia, Personal finance defines all financial decisions and activities of an individual or household, including budgeting, insurance, mortgage planning, savings and retirement planning. Understanding these terms can help you better control your funds and prepare for future financial success.
What are the 3 principle of personal finance?
Every one of these books can be reduced into three basic principles: Spend less than you earn. Make the money you have work for you. Be prepared for the unexpected.
What is personal finance?
What is Personal Finance? Personal finance is the process of planning and managing personal financial activities such as income generation, spending, saving, investing, and protection. The process of managing one’s personal finances can be summarized in a budget or financial plan.
What are the five areas of personal finance?
“Personal finance is a term that covers managing your money as well as saving and investing. It encompasses budgeting, banking, insurance, mortgages, investments, retirement planning, and tax and estate planning.” Let’s look at the five main areas of personal finance: 1. Income. 2. Budgeting (spending). 3. Saving. 4. Investing. 5. Protection:
Which of the following is an example of personal account?
Which of the following is an example of personal account? These accounts are related to individuals, firms, companies, etc. A few examples of personal accounts include debtors, creditors, banks, outstanding/prepaid accounts, accounts of credit customers, accounts of goods suppliers, capital, drawings, etc.