Personal finance

Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. When planning personal finances, the individual would consider the suitability to his or her needs of a range of banking products (checking, savings accounts, credit cards and consumer loans) or investment (stock market, bonds, mutual funds) and insurance (life insurance, health insurance, disability insurance) products or participation and monitoring of individual- or employer-sponsored retirement plans, social security benefits, and income tax management.

History

Before a specialty in personal finance was developed, various disciplines which are closely related to it such as family economics, and consumer economics were taught in various colleges as part of home economics for over 100 years. The earliest known research in personal finance was done in 1920 by Hazel Kyrk. Her dissertation at University of Chicago laid the foundation of consumer economics and family economics.Margaret Reid, a professor of Home Economics at the same university, is recognized as one of the pioneers in the study of Consumer behavior and Household behavior.

Kiplinger's Personal Finance

Kiplinger's Personal Finance (English pronunciation: /ˈkɪplɪŋərz/ KIP-ling-ers) is an American personal finance monthly magazine published by Kiplinger since 1947. It claims to be the first American personal finance magazine and to deliver "sound, unbiased advice in clear, concise language". It offers adive on managing money and achieving financial security, saving, investing, planning for retirement, paying for college, and major purchases like automobiles and homes. Janet Bodnar has been the editor of Kiplinger's Personal Finance magazine since January 2009.

History

W.M. Kiplinger, founder of the Kiplinger family of publications, said he founded the magazine because "The times will always be changing. Much of life and work consists of looking for the changes in advance and figuring out what to do about them." Upon initial production, the magazine was known simply as Kiplinger Magazine, changing its name to Changing Times in 1949 and acquiring its present name in 1991.

Finance

Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty and risk. Finance can also be defined as the science of money management. A key point in finance is the time value of money, which states that purchasing power of one unit of currency can vary over time. Finance aims to price assets based on their risk level and their expected rate of return. Finance can be broken into three different sub-categories: public finance, corporate finance and personal finance.

Areas of finance

Wall Street, the center of American finance.

Wall Street, the center of American finance.

London Stock Exchange, global center of finance.

London Stock Exchange, global center of finance.

Personal finance

Questions in personal finance revolve around:

Personal

Personal may refer to:

See also

Knight Kiplinger

Knight Austin Kiplinger [KIP-ling-er] (born February 24, 1948) is an economic journalist who heads the Kiplinger financial media company in Washington, D.C., publishers of business forecasts and personal finance advice.

He serves as editor in chief of all its publications, including the weekly Kiplinger Letter, monthly Kiplinger's Personal Finance magazine and daily Kiplinger.com. He writes a bimonthly column on financial matters in the magazine and also writes its monthly "Money & Ethics" feature, which explores ethical dilemmas in consumer affairs, business, and family relations.

In the civic realm, Kiplinger is active in nonprofit governance and philanthropy, especially in the fields of secondary education, choral music, and historic preservation.

He is a frequent guest on radio and TV programs (on NPR, CNN, Fox and CNBC, among others) and has appeared on "The Diane Rehm Show", "Charlie Rose Show", "The Today Show", "CBS This Morning," and “Wall Street Week with Louis Rukeyser”. He is an occasional commentator on "Marketplace," the daily business report heard on public radio stations nationwide.