Personal Finance is simply managing Money. Be it Saving, Spending, Lending or Investing. But it all starts with Earning.
Everyone have their own philosophy when it comes to Money. If you don’t have a philosophy, then your psychology will make the decisions for you (example: impulse Purchases, selling a falling Stock).
Money if not managed well can bring you on to your knees. Although rich people file for bankruptcy and get away. But for you and me, the laws are harsh.
Over the years experts have devised certain empirical guidelines or thumb rules on Spending and Investing to lead a better life. You can find the same here.
It is shame that our education system haven’t included Personal Finance as a mandatory subject. But if you’re open to learning now you may find this course by Khan Academy find useful. (Note: Course is meant for US People, But concept is universal)
Do let me know your take on Personal Finance in the comments below!
