Abstract
Modern times are characterized by a high emphasis on consumerism and more of everything. Perhaps, such phenomenon represents, according to many the hyper-materialization of modern life which inevitably puts more pressure on our financial resources. Our children are demanding more in terms of clothing, activities, and various other possessions; while we are no longer content with 2 pairs of shoes but 1/2 dozen at least, to say the least. This means that we need to earn more to keep in line with our material requirements, or rather to keep consuming. In this article, we will discuss personal finance and their contributions. The purposes and strategies will be discussed here.
Highlights
Finance and economics are often taught as separate subjects, but they are interrelated disciplines that influence one another in many ways
Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events
Economics has been more concerned with the big picture, such as how a country is doing, while finance focuses on companies and industries
Summary
Modern times are characterized by a high emphasis on consumerism and more of everything Perhaps, such phenomenon represents, according to many the hyper-materialization of modern life which inevitably puts more pressure on our financial resources. Our children are demanding more in terms of clothing, activities, and various other possessions; while we are no longer content with 2 pairs of shoes but 1/2 dozen at least, to say the least. This means that we need to earn more to keep in line with our material requirements, or rather to keep consuming. The purposes and strategies will be discussed here.
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