economics also deals with personal finance, or how you spend, save, and invest your money. This week I spent my money on buying household items .
The phrase "personal finance" refers to managing your finances as well as saving and investing.
Personal finance is about achieving individual financial objectives, such as having enough money to cover immediate expenses, making retirement plans, or setting aside money for your child's college tuition. Your income, spending, saving, investing, and personal safety are all factors.
Income, saving, spending, investing, and protection are the five pillars of personal finance. Your ability to successfully manage your personal money should be based on your ability to handle each of these.
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