Personal Finance
Personal finance is the management of an individual's or household's financial activities, including budgeting, saving, investing, and planning for future expenses such as retirement or emergencies. It involves making informed decisions about income, expenses, assets, and liabilities to achieve financial goals and ensure long-term stability. This concept encompasses practical skills and knowledge applied to everyday financial life, rather than being a specific technology or tool.
Developers should learn personal finance to manage their income effectively, especially given the often high salaries in tech, and to build financial security through savings, investments, and debt management. It is crucial for planning career transitions, funding side projects, or achieving early retirement, as it helps optimize cash flow and mitigate risks like job loss or market downturns. Understanding personal finance also supports better decision-making in business contexts, such as budgeting for software projects or evaluating financial implications of technical choices.