public finance, corporate finance and personal finance.

Jun 18th, 2015
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Finance is the science of funds management, or the allocation of assets and liabilities over time under conditions of certainty and uncertainty. A key point in finance is the time value of money, which states that a unit of currency today is worth more than the same unit of currency tomorrow.

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Finance is the science of funds management, or the allocation of assets and liabilities over time under conditions of certainty and uncertainty. A key point in finance is the time value of money, which states that a unit of currency today is worth more than the same unit of currency tomorrow. Finance aims to price assets based on their risk level, and expected rate of return. Finance can be broken into three different sub categories: public finance, corporate finance and personal finance.Personal financeQuestions in personal finance revolve aroundHow can people protect themselves against unforeseen personal events, as well as those in the external economy?How can family assets best be transferred across generations (bequests and inheritance)?How does tax policy (tax subsidies and/or penalties) affect personal financial management?How does credit affect an individual's financial standing?How can one plan for a secure financial future in an environment of economic instability?Personal finance may involve paying for education, financingdurable goodssuch asreal estateand cars, buyinginsurance, e.g. health and property insurance, investing and saving forretirement.Personal finance may also involve paying for a loan, or debt obligations. The six key areas of personal financial planning, as suggested by the Financial Planning Standards Board, are:1. Financial position:is concerned with understanding the personal resources available by examining net worth a

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