Personal finance refers to the management of an individual’s or family’s financial activities, including budgeting, saving, investing, and planning for future expenses. It encompasses various aspects such as income management, debt management, retirement planning, and financial goal setting. The objective of personal finance is to achieve financial stability and security by making informed decisions about spending, investing, and saving money. This field also involves understanding financial products, such as bank accounts, loans, and insurance, as well as the implications of taxes and interest rates. Ultimately, personal finance aims to empower individuals to take control of their financial situation and make choices that lead to their desired lifestyle and financial independence.
A 43-year-old man in Macomb County discovered he was a $4 million lottery winner after initially dismissing his ticket. Curiosity led him to scan the ticket during a later visit,…