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.
Read more about Personal Finance: Personal Financial Planning Process, Areas of Focus
Famous quotes containing the words personal and/or finance:
“Wilson adventured for the whole of the human race. Not as a servant, but as a champion. So pure was this motive, so unflecked with anything that his worst enemies could find, except the mildest and most excusable, a personal vanity, practically the minimum to be human, that in a sense his adventure is that of humanity itself. In Wilson, the whole of mankind breaks camp, sets out from home and wrestles with the universe and its gods.”
—William Bolitho (1890–1930)
“Imperialism is capitalism at that stage of development at which the dominance of monopolies and finance capitalism is established; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun, in which the division of all territories of the globe among the biggest capitalist powers has been completed.”
—Vladimir Ilyich Lenin (1870–1924)