Personal Finance

Personal finance is an interesting topic for most people because it is the type of finance that concerns them directly. In a sense, personal finance involves a single person rather than a corporation or an institution. The clearest manifestation of personal finance in our daily lives are the personal loans (usually unsecured but at a higher interest rate) that we avail to get by on our meagre salaries and other income sources. Personal finance include such types as credit cards and salary or so-called “payday” loans which carry an interest charge based on a 15-day cycle (the payroll cycle period). Other forms are car loans and mortgage financing which are both longer-term compared to credit cards.

Finance your Dream on you Hand

A critical key to being successful in the arena of personal finance is to manage your finances very well such as maintaining a monthly budget. This budget plan will greatly help you identify “money leaks” that drain your monthly income very subtly, that is often overlooked. As they say, small things can add up and this principle applies to money leaks. The budget helps to curb unnecessary expenses and highlight the money inflows from the salary, wages, bonuses and other part-time income source that you may have. At any rate, it is always a good idea to save a little extra each month and invest the amount wisely.

Site Name: CNNMoney.com
URL: http://money.cnn.com/pf
A very authoritative site and also well-written articles on money and finance. This site is one of my favourites because it is also comprehensive.

Site Name: Yahoo! Finance
URL: http://finance.yahoo.com/banking-budgeting/article
Articles about finance on this are relatively easy to read and comprehend. It also features some of the best finance writers around.

Site Name: Personal Finance
URL: http://www.persfin.co.za
A good site due to its balanced views on a range of finance subjects. It also gives useful insights into the current financial crisis in America which is due to greed.

Leave a Comment