Personal Financial ManagementRobert Smith

Contents

• What is Personal Finance• Personal Financial Planning Process• Focus Areas• Activities of Consumer• Conclusion

What is Personal Finance

• Personal finance is the financial

management of an individual or

family. • This includes budgeting,

investments, and retirement planning.

Personal Financial Planning Process

This shows the financial planning

processAssessment

Goal Setting

ExecutionMonitoring

Creating a Plan

Focus Areas

Some Personal Financial focus areas:

• Financial Position: Understanding the

availability of personal resources by

examining the net worth.

• Adequate Protection: The ways to

protect the household from unseen risks.

The risks are divided into liability, property,

health and many more.

Contd..

• Tax Planning: Income tax is one of the

largest expense in the household. The

question arises when and the amount of taxes

you pay . The government provides many

incentives and credit, which will reduce the

tax burden.

• Investment: Planning to collect sufficient

money for large purchases. It also includes

planning for major life events.

Contd..

• Retirement Planning: It is the process of understanding that how much it costs to live after retirement. Then plan according to it.

Activities of Consumer in Financial Management

• Earning

• Spending

• Borrowing

• Savings

Conclusion

• Personal finance is the process

through which an individual or

family manages money and future.

• If there is less finance or bad credit

then there is way to manage them.

References

• http://en.wikipedia.org/wiki/Personal_finance

• http://www.investopedia.com/terms/p/personalfinance.asp

• http://www.investopedia.com/terms/p/personalfinance.asp

• http://www.yourdictionary.com/personal-finance

• https://48factoring.com/blog/• http://www.slideshare.net/deborahb

urns/personal-finance-101-ppt

Thank You !!!