Finance is a high end word most us use for defining the economic structure of any entity i.e. Country , Organization etc.
But in reality, it will start from a Person -> Family -> Society -> Bank/Institutions/Organization -> Government.
Most of us won’t think about person finance i.e. personal finance.
Here we mostly discuss about personal finance ,because there is curriculum’s in school or colleges to cover other finance and economics related stuff but in our education system no place for personal finance as such.
Why Personal Finance?
Without personal finance knowledge one cannot achieve financial freedom in their life.
Instead of explaining , here the diagrammatic way to understand deeply.
In our whole life we should not run behind money, instead money should follow us for that ,one should learn and understand personal finance.
Of course for all of us money is not an end goal , still for safest life personal finance knowledge is most important that will secure our family too.
Few things one should learn in personal finance is
- Money Management
- Asset and Liability
- Passive Income
- Avoiding Debt trap. etc.