Personal Finance Management
Personal Finance Management (PFM) is the practice of managing an individual's or household's financial activities, including budgeting, saving, investing, and debt management. It involves tracking income and expenses, setting financial goals, and making informed decisions to achieve financial stability and growth. This concept is often supported by tools, apps, or methodologies to help individuals optimize their financial health.
Developers should learn Personal Finance Management to build applications that help users track spending, create budgets, and plan for financial goals, which is crucial in fintech, banking, and consumer finance sectors. It's used in scenarios like developing budgeting apps, investment platforms, or financial dashboards that require data analysis and user-friendly interfaces. Understanding PFM enables developers to create solutions that address real-world financial challenges, such as debt reduction or retirement planning.