Being an expert in personal finance means knowing how to make money from many sources, use a budgeting system to spend sensibly, save regularly by putting savings ahead of expenses, and make strategic investments to increase wealth over time. To become financially independent, one must adhere to these four principles: earn, spend, save, and invest.
Imagine the following: one morning, you feel assured and in charge of your financial destiny when you wake up. You are fully aware of the source, the expenditure, the amount saved, and the investments made with your money. By grasping the fundamentals of personal finance, you can turn this vision into a reality rather than just a wish.
What is personal finance?
The ability to make wise financial decisions based on your income, savings, expenses, short- and long-term wealth objectives, risk tolerance, and overall life plans is known as personal finance.”
It has 4 pillars:
1.EARN
2.Spend
3.Save
4.Invest
