Personal finance

Business Studies J.S.S 3 Second Term

WEEK 5

Personal finance

Performance Objectives

Students should be able to:

    1. Explain the meaning of personal finance.

    2. State the uses of a personal budget.

    3. Manage personal funds and keep records of expenditure.

Content

Meaning of Personal Finance

Personal finance refers to the methods in which an individual manages his money assets and real assets. Examples of money assets are cash and money market instruments. Examples of real assets are land, buildings, furniture’s, equipment, etc.

Uses of Personal Budget

1. It makes us live within our income.

2. It shows how money is to be spent and how it is being spent.

3. It helps to control…