Personal finance, as a term, covers the concepts of managing your money, saving, and investing. Personal finance, as a term, covers the concepts of managing your money, saving, and investing. It also includes banking, budgeting, mortgages, investments, insurance, retirement planning, and tax planning. Personal finance can help us increase our cash flow. Keeping a track of our expenditures and spending patterns enables us to increase our cash flow. Tax planning, spending prudently, and careful budgeting ensure that we do not lose our hard-earned money on frivolous expenses. Having basic personal financial skills is one of the most important things you can do to live a healthy, happy and secure life. Your level of understanding around the fundamentals of budgeting, saving, debt and investing will impact every part of your life and can mean the difference between prosperity or poverty.

Yogita Parihar

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