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. Personal finance skills help you to understand how much you earn, what are your monthly expenses, and help you to budget within that income.The benefits of personal finance include an ability to effectively budget for costs, higher savings rates for retirement, and making prudent investment choices that will help you reach your financial goals
Watch this short video to learn more about '10 Personal Finance Rules School Doesn't Teach You'. It gives you real life examples of important topics related to personal finance.