A niche discipline in finance which involves all techniques and methods relating to managing and investing money at individual or personal level. It revolves around the financial life of an individuals in terms of  managing personal finances: sources of funds, rationing expenses in accordance with a person’s budget, meeting financing needs, and investing savings (surplus funds), etc. It also includes searching for opportunities to improve personal financial situation, building real wealth, and achieving personal financial goals, and as a result a person’s broader goals in life.

Broadly speaking, personal finance can be defined as the study/ analysis of personal and family resources and liabilities/ obligations towards fulfilling financial success. It relates to how a person (or a household) spend, save, safeguard and invest their financial resources (wealth), as well as developing necessary financial literacy including knowledge of principles, methods, concepts, tools and facts for a person to be smart about finance and money.