What is PERSONAL FINANCE | The BEST Explanation
Channel: Growth Literacy
Date: 29/01/2024

What is Personal Finance? Personal finance, money management, financial independence, budgeting, saving, and investing might all fall under the same umbrella, but looking at each of these topics independently can strengthen your financial literacy and essentially help you with making more informed decisions.

So this video focuses on explaining what is personal finance and components of personal finance.  

(please note that the provided statistic in this video are according to a new Mind over Money survey by Capital One and The Decision Lab published in 2023.)

Here are the links to the videos mentioned in this video:
The Ramsey Show Highlights:
https://youtu.be/vCI8XFFg0kE?si=MNe-BHRnB2P90zIG

What is Financial Literacy:
https://youtu.be/A-smMq-jCtM


⛳️AND here are some fantastic books that I recommend for improving your financial literacy!

📚 "The Psychology of Money: Timeless lessons on wealth, greed, and happiness" By Morgan Housel.  https://amzn.to/47hUPkv

📕“The Total Money Makeover" by Dave Ramsey https://amzn.to/48dvYzw
📗"The Index Card: Why Personal Finance Doesn't Have to Be Complicated" by Helaine Olen and Harold Pollack. https://amzn.to/48dnrMI
📙"MONEY Master the Game" by Tony Robbins https://amzn.to/47VERxJ
📘"Principles" by Ray Dalio  https://amzn.to/4agN1SK


⏰Timestamp:
0:00 What is Personal Finance?
0:16 More than 3 in 4 Americans ...
0:56  And 4 in 5 Americans say ...
1:12  Five Critical Stages of Personal Finance
1:21 Making money or Income
1:29 Spending Money
1:46 Fixed Expenses 
1:56 Discretionary Expenses 
2:19 Saving Money
2:35 Building Wealth And Investing
2:46 Protecting Assets
2:57 Resources 


In case you want to know:🦊

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DISCLAIMERS & DISCLOSURES  🤖
This content is for educational and entertainment purposes only. This channel does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal. 


This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Growth Literacy is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Thank you for your support! As an Amazon Associate I earn from qualifying purchases - with zero additional cost to you!