2. Introduction to Personal Finance
• Personal finance refers to the financial decisions which
an individual to make to obtain budget, save and spend
monetary resources over time, taking into account
various financial risks and future life events.
• Points considered:
Banking needs-investments-insurance-retirement plans-income
tax management.
3. Significance of Personal Finance
• Income
• Cash flow
• Capital
• Investments
• Standard of living
• Financial understanding
• Assets
• Savings
• On-going advice