Mesut Yavas | Personal Finance

 According to Mesut Yavas, to run any type of business and company smoothly, capital ie money is required.

Finance is directly related to money or money. Finance includes banking, credit, investments, assets as well as liabilities. Actually, Finance is the science that deals with money, banking, and credit, Describes the management, creation, and study of investment assets and liabilities.

We often read and hear about world finance in newspapers, magazines, media news, etc. 

This word is very much discussed in the whole country during the budget session. 

Although many people do not have much knowledge about the word finance you have a very broad and multi-meaning word, whatever is discussed about it will be less. 

According to Mesut Yavas, finance is the medium to conduct different business activities. 

Finance is required for the functioning of any person, organization, company as well as government.

Types of Finance

Finance is considered a science as well as an art. Finance is the soul of every business and is the basic requirement for starting a business and operating a business. 

In the modern era, finance ie finance has been divided into 3 parts.

1-Personal Finance

2-Corporate Finance

3- Public finance

Personal Finance-  According to Mesut Yavas, Personal finance is a subject related to a person and money, which teaches how to manage and control money as well as get the most out of available money.

Each person has his way of doing work, in the same way, the way of managing money is different for everyone in the language of finance, the way of managing money by every person is called personal finance.

Personal finance is a very big topic related to the transaction of money of different persons.

As I said earlier- personal finance is a big topic, and hence everything that comes under personal finance can be divided into a few categories so that we can easily understand the bigger topic of personal finance. such as-

1- Budget- In which all our incomes, as well as expenses, are included. 

2- Insurance- All types of insurance plans that we take on time like - Life Insurance, Health Insurance, Home, Car as well as other insurance.

3- Taxes- In which there are some major taxes like- Income Tax, TDS, and other taxes.

4- Financial Planning- In which we plan as well as work on the expenses of financial freedom, retirement, children's education, marriage, and other things.