Personal Financial Management Skills You Need - PowerPoint PPT Presentation

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Personal Financial Management Skills You Need

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Personal finance management is simply the management of money and financial decisions that cover managing your money, savings, spendings, etc. The personal financial management includes budgeting, banking, tax, retirement planning. In simple words, the personal finance management is all about meeting financial goals. Whether it is your retirement planning, short term financial goals, savings for future. – PowerPoint PPT presentation

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Date added: 26 February 2020
Slides: 13
Provided by: TakeFin
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Title: Personal Financial Management Skills You Need


1
Personal Financial Management Skills You Need
2
Personal finance management is simply the
management of money and financial decisions that
cover managing your money, savings, spendings,
etc. The personal financial management includes
budgeting, banking, tax, retirement planning. In
simple words, the personal finance management is
all about meeting financial goals. 
3
Overview- Personal Financial Management Skills
You Need
  • Why Personal Financial Management is Important?
  • Types of Personal FinanceWhat are Benefits in
    Personal Finance?
  • What are the Two Advantages of having a Personal
    Financial Plan?What is the purpose of finance?
  • Personal Financial Management App
  • Personal Finance Planning
  • Personal Finance Tracker App
  • Personal Financial Management Software
  • Personal Financial Management Tips

4
Why Personal Financial Management is Important?
Personal financial management is important in
everyones life. It is the process of managing
your money to achieve personal financial
goals. It helps to determine the short and long
term financial goals and create a plan to meet
the goals.
5
What Are The Benefits of Personal Finance?
  • There are the following benefits of personal
    finance-
  • The main benefit of personal finance tracking is,
    it helps to avoid debts.
  • There are a number of peoples who failed to
    manage their personal finance and end up with
    high debts.
  • By having proper management of personal finance
    you can save more money for the future.
  • Try to reduce the usage of credit cards, so you
    can save your money.
  • The best thing about personal finance management
    is it helps to save money.
  • No one can predict when financial emergencies
    will occur.
  • By personal finance tracking, you can easily
    track your expenses.

6
What are the Two Advantages of Having a Personal
Financial Plan?
Advantages of having a personal financial
plan- A. Financial Plan Force You to Budget
When you understand the reality of personal
financial planning you will create the budget on
a monthly basis. For an effective financial plan,
you need to make a budget. Budgeting is the best
and only tool for creating or developing a
personal money plan. B. Financial Plan Helps You
to Start Planning for Retirement Personal
finance management helps you to create the budget
and when you spend according to the budget, you
will save more money and it can help you to start
planning for retirement. At what age you have to
retire, depends on the money you saved.
7
What Is The Purpose Of Finance?
The main purpose of financial management is to
help people to save money, manage money and raise
money for the future. It helps you to control
the spendings and increase the saving for the
great financial future. Finance force you to
create a budget on a monthly basis and the budget
keeps you on track. It helps to improve your
expenses or spending and saves money in a great
manner.
8
Personal Financial Management Tips Tips to make
effective personal financial management-
  • To make good and effective personal financial
    management all you need to create a budget.
  • A budget tool that helps you to stay on track and
    keeps you safe from unnecessary spendings.
  • The common tip for personal finance management is
    to pay yourself first.
  • Pay yourself first means you are investing in
    your financial future.
  • Stay away from the debts. Common debts like a
    house loan, student loan mortgage, etc.
  • ome debts are bad like a credit card that is used
    while purchasing.
  • Save the money and be prepared for an emergency.
  • We cant predict the future or any emergency but
    we can prepare for it.
  • Set an emergency fund of 3-6 months living
    expenses that means if you lost your job.

9
Personal Financial Management App Takefin
Finance and Expense Tracker App
Takefin Finance and Free Personal Expense Tracker
App is a smart app that tracks your spending or
expenses. The finance tracker app allows you to
add, monitor your every expense. This app is
ideal for both business and personal expenses
tracking. It is the best app for android and
iOS to analyze the expenses.
10
Personal Finance Tracker App Mint App- Finance
Tracking
The mint app is the best personal finance tracker
app to control your spendings. This app helps you
to connect all your bank accounts, credit cards,
and monthly bills. The best thing about this app
is it lets you know your due bills and the
spendings. It also sends a reminder of your
budget if you reach beyond the limit. This app
monitors your credit scores in a good manner.
11
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