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Personal financial management (PFM) is essential for individuals and families to achieve financial stability and meet their goals. This research highlights the different facts of PFM, including budgeting, saving, investing, debt management, retirement planning, and more. Drawing from extensive literature, it examines the dynamics of financial behaviour, the role of financial education, technological advancements, and socioeconomic factors influencing PFM. The research involves data collection from 102 participants, offering insights into financial behaviour, preferences, and attitudes. Discoveries unveil areas for enhancement in savings allocation, emergency preparedness, seeking professional advice, and retirement planning. Additionally, the study presents the "50/30/20 rule" as a practical framework for managing finances effectively. Overall, the study emphasizes the significance of comprehensive PFM strategies tailored to individual circumstances for long-term financial well-being. KEYWORDS: Personal financial management, PFM, budgeting, saving, investing, debt management, retirement planning, financial behaviour, financial education, socioeconomic factors, 50/30/20 rule.
Bhovi et al. (Mon,) studied this question.