{"id":433,"date":"2021-01-14T08:20:52","date_gmt":"2021-01-14T16:20:52","guid":{"rendered":"https:\/\/hispanabella.com\/?p=433"},"modified":"2021-07-27T21:50:34","modified_gmt":"2021-07-28T04:50:34","slug":"what-is-personal-finance","status":"publish","type":"post","link":"https:\/\/hispanabella.com\/what-is-personal-finance\/","title":{"rendered":"What is Personal Finance?"},"content":{"rendered":"<p>If you\u2019ve been anxiously waiting for the newest <a href=\"https:\/\/www.apple.com\/iphone\/\" target=\"_blank\" rel=\"noopener\">iPhone<\/a> or gadget, but don\u2019t have the money to buy it, you know that you\u2019re going to have to change how you manage your money to have enough money by the time the newest iPhone or gadget comes out. As much as we\u2019d like, money doesn\u2019t grow on trees. Wouldn\u2019t that be nice?!\u00a0So how do you manage your money to have enough to buy what you want? You can apply personal finance principles!<\/p>\n<h3>What is personal finance?<\/h3>\n<p>Personal finance is the management of your money.\u00a0 It involves saving and investing your money to make it grow.\u00a0 The common areas of personal finance include banking, investing, budgeting, retirement planning, and mortgages.<\/p>\n<p>Back to the matter at hand, how are you going to come up with the money to buy the iPhone or newest gadget?<\/p>\n<ol>\n<li>Start <a href=\"https:\/\/hispanabella.com\/personal-finance\/learn-to-save-money-like-a-pro\/\">saving money<\/a>:\n<ul>\n<li>you\u2019re going to have to stop spending on things that are not necessary.\u00a0 For example, instead of going to Starbucks every day, you could cut down to going once a week.<\/li>\n<li>You can work a second job or work extra small jobs for people you know.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<ol start=\"2\">\n<li>Stick to a <a href=\"https:\/\/hispanabella.com\/personal-finance\/learn-the-basics-of-budgeting-pronto\/\">budget<\/a>:\n<ul>\n<li>When you get paid, tell your money where to go and do not deviate from it. For example, if you decide you\u2019re going to set aside $150\/month for gas, $150\/month for groceries, and $150\/month for dining out, make sure you do not spend more than this.\u00a0 Make sure the budget you\u2019re creating also includes a savings category where you can set your goal to save a specific amount per month.\u00a0 For example, if you set your intention to save $100 per month, in a year, you\u2019ll have $1,200 saved!\u00a0 That\u2019s enough to buy yourself the newest iPhone!<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<ol start=\"3\">\n<li><a href=\"https:\/\/hispanabella.com\/investing\/lgreat-investment-options-to-make-extra-cash\/\">Invest <\/a>your money:\n<ul>\n<li>You can buy mutual funds, stocks, or other investment options to make your money grow.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<ol start=\"4\">\n<li>Place your current savings in a high-yield savings bank account that pays you a decent interest rate to make extra cash.<\/li>\n<\/ol>\n<p>If you start making some of these changes, you\u2019ll be applying personal finance principles that will help you get that iPhone or gadget soon enough!\u00a0 You just have to be patient, continue working towards your goal, and be persistent.\u00a0 Just think about how awesome it\u2019s going to be watching your favorite Netflix show on your new phone!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019ve been anxiously waiting for the newest iPhone or gadget, but don\u2019t have the money to buy it, you know that you\u2019re going to have to change how you manage your money to have enough money by the time the newest iPhone or gadget comes out. As much as we\u2019d like, money doesn\u2019t grow [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/posts\/433"}],"collection":[{"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/comments?post=433"}],"version-history":[{"count":0,"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/posts\/433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/media\/1010"}],"wp:attachment":[{"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/media?parent=433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/categories?post=433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanabella.com\/wp-json\/wp\/v2\/tags?post=433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}