Personal Finance

Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty and risk. Finance can also be defined as the science of money management. Finance aims to price assets based on their risk level and their expected rate of return. Finance can be broken into three different sub-categories: public finance, corporate finance and personal finance.

Questions in personal finance revolve around:

Protection against unforeseen personal events, as well as events in the wider economies
Transference of family wealth across generations (bequests and inheritance)
Effects of tax policies (tax subsidies or penalties) management of personal finances
Effects of credit on individual financial standing
Development of a savings plan or financing for large purchases (auto, education, home)
Planning a secure financial future in an environment of economic instability