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Personal Finance focuses on applying sound money management principles to personal or household accounts. This field of study concentrates on family budgets, retirement planning, personal loans and credit cards as well as other financial concerns such as life and health insurance and income tax preparation.

Personal finance seeks to assess a person's financial standing and then establishes practical goals for them. They then formulate one or more plans that help them attain their goals using proven methods that manage risk and generate income. Over time those who are involved should monitor and reassess their progress to make sure that there money is properly managed.

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14y ago

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