Financial Terms Dictionary: ELI5 Version - Personal Finance

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.