• What is Personal Finance
• Personal Financial Planning Process
• Focus Areas
• Activities of Consumer
3. What is Personal Finance
• Personal finance is the financial management
of an individual or family.
• This includes budgeting, investments, and
4. Personal Financial Planning Process
This shows the financial planning process
Assessment Goal Setting
5. 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
• 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.