The five main components of personal finance are:
Budgeting: Creating a plan for how to spend and save money on a regular basis. This includes setting financial goals and tracking income and expenses to ensure that you are living within your means.
Saving and Investing: Putting money aside for future expenses, such as retirement, or for emergencies. Investing is an important component of personal finance, as it can help individuals to grow their wealth over time.
Credit Management: Understanding and managing credit, including credit scores, credit reports, and credit cards. This can help individuals to access loans and credit at favorable terms, and can also help them to avoid financial problems such as high-interest debt.