Personal finance encompasses managing your money, including income, expenses, savings and investments. The essence of personal finance is achieving personal financial goals, such as having enough money for short-term expenses, budgeting for retirement or investing for your child's college education.
To start mastering personal finance, begin by educating yourself on the basics, such as how to create a budget, the importance of saving, the power of compounding interest and the basics of investing. Numerous resources are available to help you learn.