Personal finance is mostly about realising personal financial goals, whether it's saving enough for short-term financial needs, planning for retirement, or saving for your child's college education. Mostly, it depends on your income, expenses, living requirements, and individual goals, and the plan you make to fulfill those goals within your financial constraints. It's very important to become financially literate in order to make the most of your income and savings. Financial literacy helps you distinguish between good and bad financial advice and make best decisions for yourself. The significance of personal finance is that it facilitates: increased savings; enjoy a better standard of living; offer family security; keeps off unmanageable debts; security during emergencies; attainment of peace of mind; growth in assets etc.

Abhijith S

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