What is the definition of personal finance?

Personal finance refers to the management of an individual's financial activities and encompasses a broad range of concepts and decisions that impact a person's financial well-being. It includes budgeting, saving, investing, and planning for future financial goals like education, retirement, purchasing a home, and managing debt.

This definition captures all aspects of a person's financial landscape and emphasizes the importance of making informed choices to achieve financial stability and growth. It is not limited to one specific area, such as investing in stocks, saving for retirement, or obtaining loans. Rather, it is a holistic approach to handling all financial matters, ensuring that individuals can effectively manage their resources over their lifetime.