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Personal finance covers budgeting, banking, insurance, mortgages, investments & retirement planning. Learn about different types & how they work.
Personal finance is a term that covers the management of your money, as well as saving and investing. It encompasses budgeting, banking, insurance, mortgages, investments, retirement planning, and tax and estate planning.
Saving money is a critical aspect of financial management that can help us achieve our financial goals and secure our future. However, saving money is often easier said than done, especially when you consider the many financial obligations that we have to deal with on a regular basis.
Ideally, you should start investing to achieve financial goals early in life, but any time is a good time to check your current financial situation and assess how you are doing. Are you still on the right track? Do you have other goals that you haven't considered before? Having a financial plan helps you assess where you are today and where you want to go next.