LIFESKILLS

4. Personal financial management

Personal financial management

Money - It is medium of exchange.

Finances – it is a field that is concerned with the allocation (investment) of assets and liability.

Financial management – how to handle your finances

Importance of personal financial management / budgeting

·         Enhance savings

·         Helps in stock management

·         Prevents impulse buying

·         Helps in prioritizing of expenses

·         Enhance personal growth and development