Personal finance refers to the management of an individual’s financial activities, including budgeting, saving, investing, and planning for future financial goals. It encompasses a wide range of financial decisions, such as how to allocate income, manage expenses, handle debt, and prepare for retirement or emergencies. Personal finance also involves understanding various financial products, such as bank accounts, loans, credit cards, and investment vehicles. The goal of personal finance is to achieve financial stability and security, allowing individuals to meet their current needs while planning for future aspirations.
Amir Reza-Tofighi, the new leader of the Confederation of Small and Medium-Sized Enterprises, proposes adding an extra work hour weekly, dedicated to retirement savings. The extra hour is invested in…