Personal Financial Planning – Risk Management

Risk management in financial planning is the systematic approach to the discovery and treatment of risk. The objective is to minimize worry by dealing with the possible losses before they happen. The process involves: Step 1: Identification Step 2: Measurement Step 3: Method Step 4: Administration Risk Identification The process begins by identifying all potential…

Three Simple Rules of Personal Finance

Basic principles of personal financial planning are quite simple. Success comes only with the establishment of habits. Man creates habits and habits create the future. If you do not create good habits, then the bad will arise unconsciously. Some aspects of personal financ can be quite complex. For example, planning a will or trust organization,…

What is the Definition of Personal Finance?

The definition of Personal finance is an inclusive term with regard to all the financial characteristics of an individual’s or household’s financial circumstance and monetary decision making. Managing your own finances is not actually just about protection, but those who possess self control, preservation, and accountability, as well as those who test themselves to economize…