Financial Literacy and Personal Financial Management: Smart Moves Towards Personal Finance

Financial literacy and personal financial management have become integral parts of everyone’s life. Financial literacy is the basic knowledge, skills, behaviour, and attitude towards finance. Personal finance includes income, savings, expenses, investments, and financial protection for the person or family. Personal financial management means effective management of personal finances. There is a necessity of financial literacy for everybody to manage their personal finances. In this backdrop, this paper deals with linkage between financial literacy and personal financial management, and also discuss the smart money moves by a person to effectively manage their personal finances, backed by financial literacy.Financial literacy helps the people to manage their personal finances effectively through that they can achieve their financial goals.