Writing Resources
Personal Finance as the name describes it is the management of personal financial needs Financial management relating to an individual or a family falls under the preview of personal finance There are two sources of acquiring finance in the real world i e internal resources and external resources In the context of financial requirements relating to a person or family it can be managed internally from the earnings and accumulated savings External resources include the loan products available in different types of personal loans credit cards and insurance claims etc Personal finance involves all the decision relating to the unforeseen expenses and safety reserve funds to meet the emergency situations Personal finance also involves the investment decisions for future planning to encounter the expected future expenses e g future requirements of a separate house personal car and university educational expenses of children etc Budget preparing is the routine task of almost every individual and family for analyzing the routine expenses and ascertaining the possible savings or loan requirements The requirement of personal finance management is essential especially for the unpredicted or surprising expenses as compared to the routine or predictable expenses
