What you need to know to get to financial independence. Tuesday, June 23, 2009. I recently received this question from a friend who is nearing retirement. How do you decide how much you are able to spend each year? A set percentage of your assets or a fixed amount? Retiement economics are very different than when you are working. You are right that retirement economics are considerably more complicated than when you are working. Yes, more difficult indeed.

Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. It addresses the ways in which individuals or families obtain, budget, save and spend monetary resources over time, taking into account various financial risks and future life events. Prioritize Spending Based On Overall Happiness. Except for the really rich, we all need to watch our spending. Money management is a very simple concept; spend less than we earn! If we learn to be than.

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