Personal finance encompasses all aspects of finance that has been encountered in a family. Buying, spending, saving, managing credits and debits, paying of taxes etc are the areas that need attention. Evaluation of a person’s financial capability is of primary importance before carrying out any financial transactions. Once the income and expenditure are assessed, a plan can be laid out to meet the future needs. When a goal is set, people will be compelled to work towards achieving the same. Periodical assessment of the financial condition gives a clear picture which gives way for further adjustments. Instead of wasting money on needless things, proper financial plans will secure the future of the working class people.