Personal finance is the foundation of financial well-being. It involves budgeting, saving, investing, and planning for future financial goals. The key to personal finance success is understanding income, expenses, and how to manage both effectively. Creating a budget helps track where money is going and ensures that necessary expenses are covered before spending on luxuries. Additionally, saving a portion of income for emergencies and long-term goals can provide financial security. Learning how to invest wisely also plays a crucial role in building wealth over time.