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2014•Unpublished venueRequires access

MANAGING PERSONAL FINANCE "A Backup for a Rainy Day"

Bakshi Satpreet Singh, Integrated

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Abstract

A proper management of personal finance can give long term financial securities. We know that life is full of uncertainty. So to make our life secure we have to do a proper management of our finance. This report tries to give the answer of why it is necessary to manage our personal finance and also analyze the process of making personal financial decision. Personal Finance consists of a behavior of a person and practice of financial planning, Investing, Saving and spending with the motive to sustain and maximize value of money throughout the life. At an early stage of the career the financial planning and practice should start. Then only a person will be able to achieve financial freedom.

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What this paper is about

A proper management of personal finance can give long term financial securities. We know that life is full of uncertainty. So to make our life secure we have to do a proper management of our finance. This report tries to give the answer of why it is necessary to manage our personal finance and also analyze the process of making personal financial decision. Personal Finance consists of a behavior of a person and practice of financial planning, Investing, Saving and spending with the motive to sustain and maximize value of money throughout the life. At an early stage of the career the financial planning and practice should start. Then only a person will be able to achieve financial freedom.

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Available abstract

A proper management of personal finance can give long term financial securities. We know that life is full of uncertainty. So to make our life secure we have to do a proper management of our finance. This report tries to give the answer of why it is necessary to manage our personal finance and also analyze the process of making personal financial decision. Personal Finance consists of a behavior of a person and practice of financial planning, Investing, Saving and spending with the motive to sustain and maximize value of money throughout the life. At an early stage of the career the financial planning and practice should start. Then only a person will be able to achieve financial freedom.

Key concepts: Finance, Financial plan, Financial management, Backup, Business, Personal life, Actuarial science, Economics

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