In simple words, Personal Finance is called managing your money properly. In this, care is taken of budgeting , saving , spending , investing and avoiding financial risks. Because it helps you to take the right decision about your Financial future, and fulfil your Financial goals like buying a house, saving money for retirement or giving money for education.
After knowing about income and expenses, you can create and stick to your budget to save money and avoid debt. By investing in stocks , bonds or any other assets , you build wealth over time.
Insurance like health insurance or life insurance helps in avoiding Financial loss, at the time of unexpected events.
Personal Finance is very important, because it helps you to control your Financial situation, achieve Financial security and live a good life.