Understanding Personal Financial Management for the Public Personal financial management (PFM) is a crucial aspect of everyone’s life, yet it is often overlooked or misunderstood. In simple terms, PFM involves the planning, organizing, directing, and controlling of an individual’s financial activities. This includes income generation, spending, saving, investing, and protection against risks. In today’s fast-paced…

Understanding Personal Financial Management for the Public Personal financial management (PFM) is a crucial aspect of everyone’s life, yet it’s often overlooked or misunderstood. In simple terms, PFM involves the planning, organizing, directing, and controlling of an individual’s financial activities. This includes income, expenses, savings, investments, and budgeting. In today’s fast-paced world, where financial stability…