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PERSONAL FINANCE
CONTENT
- Meaning of Personal Finance
- Uses of Personal Budget
- Sources of Finance for Individuals
- Consumption and Choice
- Scale of Preference
- Meaning and Attributes of Modesty
- Effects of Modesty
- Links between Modesty and Extravagance
- Preparation of Personal or Individual Budget
Meaning of Personal Finance
Personal finance refers to the methods by which an individual manages his money assets and real assets.
Examples of money assets are cash and money market instruments.
Examples of real assets are land, buildings, furniture, equipment, etc.
Uses of Personal Budget
- It makes us live within our income.
- It shows how money is to be spent and how it is being spent.
- It helps to control expenditure and ensure self or financial discipline.
- It guarantees maximum satisfaction.
- It enables families to communicate their financial conditions to members.
- It inculcates saving habits.
- It enforces lessons learnt from the popular financial equations.
- It indicates the need for an additional or surplus budget.
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ClassHall Instructor
Halima Ahmadu
Maryam
Abdul tawwab
Honour Daniel
Wilfred Bassey