Personal Financial Management

Robert 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 process

Assessment 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/person

alfinance.asp

• http://www.investopedia.com/terms/p/person

alfinance.asp

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

finance

• https://48factoring.com/blog/

• http://www.slideshare.net/deborahburns/pers

onal-finance-101-ppt

Thank You !!!