The study of how individuals prepare for financial emergencies, protect against premature death and the loss of property, and accumulate wealth over time is called?

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24-08-2022
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The study of how individuals prepare for financial emergencies, protect against premature death and the loss of property, and accumulate wealth over time is called?

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choprayogita110 choprayogita110 · Answer 1 · 2022-09-22T17:30:04+02:00

Personal finance is the study of how individuals prepare for financial emergencies, protect against premature death and property losses, and accumulate wealth.

Personal finance is the practice of budgeting, saving, and spending money over time while taking into account various financial risks and upcoming life events. It can be done by an individual or a family unit.

The information, tools, and methods used in personal finance are used to manage your finances. You can manage debt, savings, living expenses, and retirement savings when you comprehend the underlying concepts and principles of personal finance. Personal finance is defined by Investopedia as "all financial decisions and activities of a person or household, including budgeting, insurance, mortgage planning, savings, and retirement planning." You can better manage your money and get ready for future financial success by comprehending these terms.

Learn more about personal finance here

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