Personal finances include budgeting, saving, and spending the pecuniary resources of an individual or a family, over time. You must consider the economic risks and the possibilities in the short, medium, and long term. It also takes into account banking products, investments (stock market, bonds, and others) and insurance (life, health, disability, and more).
The key here is planning. It is a highly dynamic process that requires frequent monitoring, adjustments, and evaluations. Their deadlines include setting goals, drawing up a detailed plan, and executing. And to succeed requires discipline and perseverance.
The areas towards which planning is oriented are:
A good number of our economic problems are not caused by inflation, bad government policy, or any outside entity; rather, they come as a direct consequence of lacking a healthy attitude towards money and not having learned to use it properly. Because of this, we embark on a stressful struggle to own more things, without mastering the basic principle that it is impossible to spend what you don’t have.
If we spend uncontrollably and get into debt living on appearances, we will never achieve financial freedom; that is, getting money to work for us while we engage in engaging and enjoyable activities. The great millionaires of the world, at least those who make their fortunes by their own efforts, do not act that way.
Develop your financial intelligence and its sisters, the emotional, and the interpersonal. The first step to achieving this is to read about it. There is a lot of literature on the Internet, autobiographies of successful entrepreneurs, and even audio books that will guide you in the process of better controlling your economy.