Personal finance refers to the management of an individual’s financial activities, including budgeting, saving, investing, and planning for future financial goals. It encompasses the strategies and tools that individuals use to manage their money effectively, ensure that their financial needs are met, and secure their financial well-being over time. Key components of personal finance include income management, expenses tracking, debt management, investment decisions, retirement planning, and insurance selection. The goal of personal finance is to help individuals make informed financial choices that support both short-term needs and long-term aspirations, leading to financial stability and security.
Side hustles are increasingly viewed as a solution for financial stability amidst inflation and retirement concerns. Many professionals now juggle traditional jobs with side projects that offer low initial investment…