What is Personal Finance?

When you hear these two words, what is the first thought that comes in your head?

I think the word “personal “ gets conveniently ignored by our brain that is in such fear of the word ”finance“ that the entire idea seems very daunting. And if at all numbers aren’t your best friends, then good luck.

So here I am to help make you comfortable with the idea of these two words put together.

Let me break this concept down for you, so that the next time you hear these words, you don’t give me the “uhmm, what are we talking about” look.

Personal means belonging to, or owing to one person rather than anyone else. It is unique to one individual.

Finance is best explained as the management of money. It could be earning, saving, investing, spending, budgeting, etc.

That put together, Personal Finance is simply, the act or process of managing the money you have. It means taking care of all aspects of your money and deciding & planning what you do with that money.

The basic rule of personal finance is to ensure that your expenses, debts and savings are within your income levels.

That wasn’t so hard, was it?  Are you feeling any better? A little less scared of these words?

Hi, I am Rashmi Beria, ex. Business Analyst who worked with an MNC and managed large sums of money for the business. I am here to help you take charge of your finances and manage it in a mindful manner.

Let us embark on this journey together!!!

6 thoughts on “What is Personal Finance?

  1. Varun Rastogi says:

    Wow!!! This is what I was looking for. You just came in at the right time. I honestly feel better after reading “What is personal Finance?”.

    Can’t wait to read more!!

    Liked by 1 person

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