Personal Financial Management

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Personal Financial Management

• Robert Smith

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Contents

• What is Personal Finance
• Personal Financial Planning Process
• Focus Areas
• Activities of Consumer
• Conclusion

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What is Personal Finance

• Personal finance is the financial management of
  an individual or family.
• This includes budgeting, investments, and
  retirement planning.

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Personal Financial Planning Process

• This shows the financial planning process

Assessment
Goal Setting
Creating a Plan
Execution
Monitoring
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Focus Areas

• Some Personal Financial focus areas
• Financial Position Understanding the
  availability of personal resources by examining
  the net worth.
• Adequate Protection The ways to protect the
  household from unseen risks. The risks are
  divided into liability, property, health and many
  more.

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Contd..

• Tax Planning Income tax is one of the largest
  expense in the household. The question arises
  when and the amount of taxes you pay . The
  government provides many incentives and credit,
  which will reduce the tax burden.
• Investment Planning to collect sufficient money
  for large purchases. It also includes planning
  for major life events.

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Contd..

• Retirement Planning It is the process of
  understanding that how much it costs to live
  after retirement. Then plan according to it.

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Activities of Consumer in Financial Management

• Earning
• Spending
• Borrowing
• Savings

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Conclusion

• Personal finance is the process through which an
  individual or family manages money and future.
• If there is less finance or bad credit then
  there is way to manage them.

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References

• http//en.wikipedia.org/wiki/Personal_finance
• http//www.investopedia.com/terms/p/personalfinanc
  e.asp
• http//www.investopedia.com/terms/p/personalfinanc
  e.asp
• http//www.yourdictionary.com/personal-finance
• https//48factoring.com/blog/
• http//www.slideshare.net/deborahburns/personal-fi
  nance-101-ppt

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• Thank You !!!