Personal and Family Finance: The Bluring Line

By Robert Katz

In today's world of finance there is so much emphasis on budgeting for the future and for your family that it makes you ask; is there really a difference between personal and family finance. Right when you get out of college you're told to start saving for old age, start a wedding fund, save for when you have kids, save for your kids college funds, and make sure you have money to take care of your parents and yourself once your old. Now, while some of these may seem like they fall under personal or family finance the two terms are beginning to blur together more and more.

People now and days are much more worried about saving money and budgeting than ever. All these online sites and blogs providing services, software, and articles to help you save more money and budget wisely. Yet, most of these tricks they talk about are good strategies for someone to use for themselves or for a whole family. Different retirement accounts that provide higher tax deductions can help people living alone or with a family. Clipping coupons, using super saver cards, and waiting for sales aren't only strategies families can use to save money but ways for everyone too. All these blog websites are allowing everyone to bring their own unique situation together with others and see where each other are going wrong. This is creating a new trend of not personal or family finance, but country finance. Where people you don't even know and have never seen before from across the country give you tips on how to budget wisely and how it worked for them. In today's economy it is good to see people so concerned with saving their money and that they care that everyone else is saving their money as well. The key to economic prosperity and growth in the US or anywhere is in a large and growing middle class and because of these new trends hopefully we should be heading in that direction.


Sources:
1
2
3