Personal finance Concepts Phase 1

Personal finance Concepts Phase 1

Personal finance is important for financing a life efficiently in an economy which is under threat of global recession since years. Proper planning, setting goals and making a realistic budget is what all individuals need in order to finance their live efficient even when resources are scarce. Saving money for the rainy days is also very essential, and it is definitely better to maintain a budget for preventing yourself from future regrets (www.uwo.ca).

The following table is illustrating the monthly and annual forecasted budget of Mr. ABC. In the first part, all ...