Thinking about where you will be financially in 4 years from now is not easy to picture. But it is something we should be actively aware of. Planning your financial goals and what you need to do to achieve these personal goals seems like a long way in the future for teenagers, but in reality is an important thing to learn about and to start practising at a young age. Good financial management is imperative to everyone’s daily lives and for their future. By not planning your finance you may end up in debt that can last a lifetime. Managing personal finances is an important skill to learn and master. So what really is personal finance. Personal finance is defined as the management of money and financial decisions for a person or family. This includes budgeting, planning for retirement and investing in companies.