What Is Personal Finance?




Personal finance is defined as the management of money and financial decisions for a person or family including budgeting, investments, retirement planning and investments.

In short in is how you manage and look after your personal money situation.




It may include things like:

  • how much money do I make?
  • how much money do I spend?
  • how much money should I save?
  • how can I reduce my expenses?
  • how much debt do I have?

These are the broader questions about personal finance that you may have to answer before you can answer more specific questions about paying down consumer debt and investing and saving for retirement.

Why Is Personal Finance Important?

I have a feeling that a lot of people are in somewhat dire financial straights. They are living paycheck to paycheck even though they “make decent money”.

So understanding personal finance is crucial so that you can stop the cycle of stress and worrying about money. You hopefully can stop arguing with your partner about how the bills are going to be paid.

ReadCrazy Facts About Consumerism

Personal finance is important so that you can teach your children the value of money and how to budget so that they do not repeat the same mistakes that a lot of us have.

It is also very freeing to know that if a somewhat unexpected financial emergency arises(the hot water heater goes, a big car repair bill, etc.), you have the money to deal with it.


A lot of people live in fear when it comes to understanding their own personal financial situation. They shy away from it. Let’s change that. Let’s look at 2019 through a new lens and get a handle on your personal finances.

What Is Your Relationship With Money?

It would seem that society’s relationship with money is completely broken. When the best-selling vehicles are full-sized $60,000 to $70,000 trucks,  and yet 70% of  North Americans are living paycheck to paycheck, it appears the general population is managing money at a fifth-grade level.

Do you:

  • shop to make yourself feel better?
  • make impulse purchases?
  • have new clothing that you have never worn?
  • ignore bills when they arrive?
  • not want to answer the phone in fear that it is a bill collector?

If yes to even one of the questions then it is time to start getting real about your personal money situation. It may not be easy but it can be done.

Read :  How To Create a Household Budget

Let’s Make 2019 THE Year for Your Personal Financial Makeover

To really get a handle on your personal finances in 2019 you may have to dig really deep about how you feel about money, spending, debt, your job, and more.

You are probably going to have to change your way of thinking on some stuff that has been hardwired into your brain.

This is a learning process.

I am going to only post about personal finance, spending, debt, as 2019 continues so please subscribe to this blog so that you do not miss any new blog posts.

I plan to very open and honest about my own spending as this is also my own personal journey towards being more minimalist and being able to save more money throughout the year.

I would love your comments.


22 thoughts on “Make 2019 The Year For Personal Finance and Frugal Living

    1. Awesome! Yup. Crush it! We really have to keep telling ourselves this every day. There will be ups and downs. Maybe some setbacks. So be it. Keep Calm and Rock on!

  1. Like you imply, many people purchase cars, clothing and other material items to make themselves happy. However, they fail to realise what will make them happiest is freedom. Managing your personal finances properly in order to gain financial freedom should be the ultimate goal, with material goods (if they are personally valued at all) should come a far away second.
    This year will be the year I really take a more formalised approach to my finances too. Look forward to following your progress!

  2. I love this article, authentic, real, true and straight to the point! Thank you for writing and sharing it with us.

  3. Great article.

    For me 2019 has been all about saving money, educating myself and finding every way I can to reduce spending.

    It’s crazy how little purchases over time can add up to a huge amount of money.

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