FAQs
What is personal finance?
Personal finance refers to managing your money, including budgeting, saving, investing, and planning for financial goals
Why is personal finance important?
Personal finance is essential for achieving financial stability and independence. It helps you make informed decisions, avoid debt
How can I start improving my financial situation?
Start by creating a budget, tracking your expenses, and setting clear financial goals. Focus on building an emergency fund
How do I create a budget?
To create a budget, list your income and expenses, categorize your spending, and allocate funds to essential needs, savings, and discretionary spending
How much should I save each month?
A common rule of thumb is to save at least 20% of your income. However, the amount may vary based on your financial goals, income, and expenses.
What is an emergency fund, and how much do I need?
An emergency fund is money set aside for unexpected expenses, such as medical bills or car repairs. Aim for 3-6 months' worth of living expenses.
