Personal finance refers to the financial decisions which an individual or a family unit is required to make to obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. When planning personal finances the individual would consider the suitability to his or her needs of a range of banking products (checking, savings accounts, credit cards and consumer loans) or investment and insurance products (stock market, bonds, mutual funds) (life insurance, health insurance, disability insurance) or participation and monitoring of individual- or employer-sponsored retirement plans, social security benefits, and income tax management.
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Famous quotes containing the words personal and/or finance:
“Children’s lives are not shaped solely by their families or immediate surroundings at large. That is why we must avoid the false dichotomy that says only government or only family is responsible. . . . Personal values and national policies must both play a role.”
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