Personal finance is the ability to manage your money including savings and investing. The ability to manage spending is a critical part of personal finance. Individuals must ensure their spending is less than their income. If not, they won't have enough money to cover their expenses and may fall into debt. Debt can be devastating financially, particularly with the high-interest rate credit cards.
Steve Bredernitz is a retired contractor, building inspector, and instructor at Washtenaw Community College.
