Often we feel like our pockets are
perforated, we make money but do not know how to spend it. The middle of the
month comes and the entire salary is paid, and sometimes the salary is paid in
the first week of the month. In the past, we had less income and more and more.
Now our incomes have doubled, and there are not enough, many expenses and many
commitments. We can not save anything

This is
a fact, so we need to control what we earn and benefit from it in the best and
most efficient manner.

         The most important entities of economy are
personal financial resource However, most researches concern the problems of
companies, sectors, or countries. Financial decisions related to personal
resource influence the whole economy, . Insolvency of employers all over the
world is becoming one of the worldwide issues. In case of crisis prevention, it
is necessary to analyze the financial situation of personal resource. Based on
that assumption, this article presents the basic data concerning personal
finance management in universities, such as income, expenditure, savings, and

 Resources :

resources mean  stock or supply of money,
materials, staff, and other assets that can be drawn on by a person or
organization in order to function effectively.

resource mean:

money available to a business for spending in the form of cash, liquid securities
and credit lines. Before going into business, an entrepreneur needs to secure
sufficient financial resources in order to be able to operate efficiently and
sufficiently well to promote success.
Just literally means where the money is coming from. For an individual
income could be from multiple sources such as employment, investment and
welfare for example. For business it’s could be from a particular markets,
products, customers, investments or government grants. It simply means “different ways from where you get

Briefly source
of finance  means the place or places or
areas from you are making money. For example if I am running my Make Money blog and I have monetize it with
ads so, I can say that My source of earning is my blog.

Personal Financial resource:

Personal finance is the science of handling money. It involves all
financial decisions and activities of an individual or household – the
practices of earning, saving, investing and spending.

All individual financial activities fall under the purview
of personal finance;
personal financial planning generally involves analyzing your current financial
position, predicting short-term and long-term needs and executing a plan to
fulfill those need within individual financial constraints. It depends on
one’s expenses, income, living requirements and individual
goals and desires.

Among the most important aspects of
personal finance are:

expected cash flow


All individual financial activities
fall under the purview of personal finance; personal financial planning generally involves analyzing your current financial
position, predicting short-term and long-term needs and executing a plan to
fulfill those need within individual financial constraints. It depends on
one’s expenses, income, living requirements and individual
goals and desires.

Among the most important aspects of
personal finance are:

expected cash flow
and filing taxes
and investment
Retirement planning

Employers finance resource(income):

          Employers finance resource(income) is
money they receive from working. they may be paid cash-in-hand, directly into
their bank account, or in another way. Regardless
of whether they have one job or more, are full time, part-time , casual or
others. The financial resources of the employers 

Salary and wages
Allowances and other employment income
Lump sum payments
Reportable fringe benefits and super

Salary and wages:

The most common type of employment
income is salary and wages.

Salary and wages includes:

your normal
weekly, fortnightly or monthly pay
(including retention bonuses to remain with your employer)
money for
part-time or casual work

an income protection policy
a sickness or accident insurance policy
a workers compensation scheme.


Allowances and other employment income:

You may receive other payments in connection
with your employment such as:

which are separately identified payments made to you by your employer

car, travel, clothing and laundry.
working conditions – for example, danger,
height, dirt or hard lying.
qualifications or special duties. 

gratuities and payments for your services
fees and payments for voluntary services

*If you received a travel allowance or
overtime meal allowance paid under an industrial law, award or agreement.

Lump sum payments:

There are two common types of lump sum

When you
leave a job, you may receive a lump sum payment for unused annual, long
service leave or special leave you may have been entitled to had you not
left your job.
The second is
a lump sum payment in arrears for money owed to you from an earlier income

Both of these lump sum payments are
assessable in the year you receive them.

Reportable fringe benefits and super

Other employment-related income

fringe benefits given to you by your employer, such as a work car for
private purposes, a cheap loan or free private health insurance.
super contributions made on your behalf by your employer.


Rules of Personal Finance:

Managing your
finances feels like nothing but a lot of paperwork andBeneath all the software
and the budgets, there are a few rules that will always help improve your
financial life:

Spend less
money than you earn: If you earn $30,000/year and you
spend $31,000/year, you’ll end up in a spiral of debt that’s hard to walk
away from. If you spend exactly as much as you earn every year, you’ll
never be prepared for emergencies or major life changes. Spending less
than you earn allows you the freedom to save, to prepare for the future,
and deal with the inevitable crises that life throws at you. The
bigger the gap between
your income and your spending, the better.
Always plan for
the future: This doesn’t just mean retirement. When a store offers
to let you pay off some gadget in 6 months with no interest, you need
to know you can pay it off,
or avoid that deal. Establishing an emergency fund will allow you to deal
with unexpected car repairs or medical bills. Having a retirement plan
will ensure you have income when you’re unable to work anymore. Your
finances should always look forward beyond the current month.
Make your money
make more money: Want to know how the rich keep
getting richer? It’s because money can grow while you sleep, provided you
save some of it. Properly invested money earns more money
over time. Don’t just sock all your cash away in a low-interest
savings account. Invest in things that will earn you more money than you
had before. Sometimes that’s an investment account, but sometimes it’s
starting a business, or even getting an education to get a better paying

finance management:

the prevailing view is that one cannot speak of a single science of finance,
but there are many sciences of finance (Dobosiewicz, 2000), which also include:

financial management(Mi?aszewicz, 2001) is a relatively new research area,
therefore, in the literature, there are very few definitions on this concept.
In the foreign literature, more attention is given to topics such as personal
finance planning. Most scientists identify the concept of personal finance
management with the concept of household finance managing. An example of this
phenomenon may be the definition of personal finance management by Garman &
Forgue (2008) who thinks that it is the study of personal and family resources
that are considered essential to achieving financial success. It applies to
savings, spending, and investment protection of people’s financial resources.
However, some, such as ?wiecka (2014), believes that personal finance is a
narrower concept than household finances and affect private finance. ?wiecka
(2014) suggests a “sensu largo and sensu stricte” approach to personal finance,
defining personal finance in the broad sense as a sub-discipline of economic
sciences related to the management of financial resources by individuals. In
this case, the term “personal finance managing in the broad sense” may be
synonymous with the term “household finance.” In contrast, in the strict sense
of personal finance, it is a sub-discipline of the science of finance dealing with
the acquisition of funds, their collection, and spending by individuals.
According to Kapoor, Dlabay, & Hughes (2007), personal finance management
is a process of continuous management of money, consisting of activities
related to the preparation and implementation of monetary operations. The main
areas of personal financial management may include( Kapoor et al., 2007):

• obtaining income – to receive resources
from employment.

• spending – the purchase of consumer goods

savings – depositing money for “rainy day” or toward specific financial goals.

investing – buying investment products to make a profit.

 • lending – borrowing and lending of various

 • risk
management – the use of various financial products, eg. • retirement planning –
depositing and investing money for the future;

 • tax
planning – skillful use of tax credits.

 • wealth transfer – transfer of assets to

Personal circumstances differ considerably,
with respect to patterns of income, wealth, and consumption needs. Tax and
finance laws also differ from country to country, and market conditions vary
geographically and over time. This means that advice appropriate for one person
might not be appropriate for another. A financial
advisor can offer personalized advice in
complicated situations and for high-wealth individuals, but University of
Chicago professor Harold Pollack and personal finance writer Helaine Olen argue that
in the United States good personal finance advice boils down to a few simple

Pay off your credit card balance every month, in full.

Save 20% of your income.

Maximize contributions.

When investing savings:

Don’t attempt to trade
individual securities
Avoid high-fee and actively managed
Look for low-cost, highly
diversified mutual funds that balance risk vs. reward appropriately to
your target retirement year

The limits stated by laws may be different in
each countries; in any case personal finance should not disregard correct
behavioral principles: people should not develop attachment to the idea of
money, morally reprehensible, and, when investing, should maintain the
medium-long term horizon avoiding hazards in the expected return of investment.






Z. (2000). Wprowadzenie do finansów i bankowo?ci Introduction to finance and banking, Warszawa: PWN.

Garman, E. T., & Forgue, R. (2008). Personal finance. USA: Houghton Mifflin

*Kapoor, J. R., Dlabay,
L. R., & Hughes, R. J. (2007). Personal finance (8th ed.). New York,

*Mi?aszewicz, D. (2001).
Problemy zarz?dzania finansami gospodarstw domowych Household finance
management problems, Twój Kapita? 2001, Zachodniopomorskie Forum
Finansowo-Kapita?owe, Szczecin, 337

B. (2014). Finanse osobiste jako subdyscyplina finansów Personal Finance as a
finance sub-discipline. In: B. ?wiecka (ed.), Wspó?czesne problemy finansów
osobistych Contemporary issues of personal finance (pp. 18). Warsaw: CeDeWu.







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