Financial Terms Dictionary: ELI5 Version - Personal Finance

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Personal Finance:

a fundamental aspect of financial literacy and prudent money management, pertains to the individual or household-level optimization and administration of financial resources to attain financial security, meet financial goals, and enhance overall economic well-being. This multifaceted discipline entails a comprehensive array of financial activities, encompassing budgeting, saving, investing, debt management, risk mitigation, tax planning, and retirement preparation.

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