Personal finance is a term that covers managing your money as well as saving and investing.

 It encompasses budgeting, banking, insurance, mortgages, investments, retirement planning, and tax and estate planning.

What are the 5 areas of personal finance?

Though there are several aspects to personal finance, they easily fit into one of five categories...

...income, spending, savings, investing, and protection. These five areas are critical to shaping your personal financial planning.

It helps you look at your finances and actively manage them. When you know how much money is coming in and going out..

What are the 5 areas of personal finance?

you make better-informed decisions about earning, saving, spending, and investing

Senator Elizabeth Warren popularized the so-called "50/20/30 budget rule" (sometimes labeled "50-30-20") in her book..

What is the 50 20 30 budget rule?

 All Your Worth, The Ultimate Lifetime Money Plan. The basic rule is to divide up after-tax income and...

allocate it to spend, 50% on needs, 30% on wants, and socking away 20% to savings