Introduction        Often we feel like our pockets areperforated, we make money but do not know how to spend it. The middle of themonth comes and the entire salary is paid, and sometimes the salary is paid inthe first week of the month. In the past, we had less income and more and more.Now our incomes have doubled, and there are not enough, many expenses and manycommitments. We can not save anythingThis isa fact, so we need to control what we earn and benefit from it in the best andmost efficient manner.

         The most important entities of economy arepersonal financial resource However, most researches concern the problems ofcompanies, sectors, or countries. Financial decisions related to personalresource influence the whole economy, . Insolvency of employers all over theworld is becoming one of the worldwide issues. In case of crisis prevention, itis necessary to analyze the financial situation of personal resource. Based onthat assumption, this article presents the basic data concerning personalfinance management in universities, such as income, expenditure, savings, andinvestment  Resources :       Generallyresources mean  stock or supply of money,materials, staff, and other assets that can be drawn on by a person ororganization in order to function effectively.Financeresource mean:       Themoney available to a business for spending in the form of cash, liquid securitiesand credit lines. Before going into business, an entrepreneur needs to securesufficient financial resources in order to be able to operate efficiently andsufficiently well to promote success.       Just literally means where the money is coming from.

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For an individualincome could be from multiple sources such as employment, investment andwelfare for example. For business it’s could be from a particular markets,products, customers, investments or government grants. It simply means “different ways from where you getmoney”.Briefly sourceof finance  means the place or places orareas from you are making money. For example if I am running my Make Money blog and I have monetize it withads so, I can say that My source of earning is my blog.Personal Financial resource:        Personal finance is the science of handling money. It involves allfinancial decisions and activities of an individual or household – thepractices of earning, saving, investing and spending.

All individual financial activities fall under the purviewof personal finance;personal financial planning generally involves analyzing your current financialposition, predicting short-term and long-term needs and executing a plan tofulfill those need within individual financial constraints. It depends onone’s expenses, income, living requirements and individualgoals and desires.Among the most important aspects ofpersonal finance are: Assessing expected cash flow Savings investment expenditureAll individual financial activitiesfall under the purview of personal finance; personal financial planning generally involves analyzing your current financialposition, predicting short-term and long-term needs and executing a plan tofulfill those need within individual financial constraints. It depends onone’s expenses, income, living requirements and individualgoals and desires.

Among the most important aspects ofpersonal finance are: Assessing expected cash flow Buying insurance Calculating and filing taxes Savings and investment Retirement planningEmployers finance resource(income):          Employers finance resource(income) ismoney they receive from working. they may be paid cash-in-hand, directly intotheir bank account, or in another way. Regardlessof whether they have one job or more, are full time, part-time , casual orothers. The financial resources of the employers are: Salary and wages Allowances and other employment income Lump sum payments Reportable fringe benefits and super contributionsSalary and wages:The most common type of employmentincome is salary and wages.Salary and wages includes: your normal weekly, fortnightly or monthly pay commissions bonuses (including retention bonuses to remain with your employer) money for part-time or casual work payments from  an income protection policy a sickness or accident insurance policy a workers compensation scheme.  Allowances and other employment income:You may receive other payments in connectionwith your employment such as: allowances which are separately identified payments made to you by your employer including: car, travel, clothing and laundry.

working conditions – for example, danger, height, dirt or hard lying. qualifications or special duties.  tips, gratuities and payments for your services consultation fees and payments for voluntary services*If you received a travel allowance orovertime meal allowance paid under an industrial law, award or agreement.

Lump sum payments:There are two common types of lump sumpayments: When you leave a job, you may receive a lump sum payment for unused annual, long service leave or special leave you may have been entitled to had you not left your job. The second is a lump sum payment in arrears for money owed to you from an earlier income year.Both of these lump sum payments areassessable in the year you receive them.Reportable fringe benefits and supercontributions:Other employment-related incomeincludes: reportable fringe benefits given to you by your employer, such as a work car for private purposes, a cheap loan or free private health insurance. reportable super contributions made on your behalf by your employer.

 Rules of Personal Finance:Managing yourfinances feels like nothing but a lot of paperwork andBeneath all the softwareand the budgets, there are a few rules that will always help improve yourfinancial life: Spend less money than you earn: If you earn $30,000/year and you spend $31,000/year, you’ll end up in a spiral of debt that’s hard to walk away from. If you spend exactly as much as you earn every year, you’ll never be prepared for emergencies or major life changes. Spending less than you earn allows you the freedom to save, to prepare for the future, and deal with the inevitable crises that life throws at you.

The bigger the gap between your income and your spending, the better. Always plan for the future: This doesn’t just mean retirement. When a store offers to let you pay off some gadget in 6 months with no interest, you need to know you can pay it off, or avoid that deal. Establishing an emergency fund will allow you to deal with unexpected car repairs or medical bills. Having a retirement plan will ensure you have income when you’re unable to work anymore. Your finances should always look forward beyond the current month. Make your money make more money: Want to know how the rich keep getting richer? It’s because money can grow while you sleep, provided you save some of it. Properly invested money earns more money over time.

Don’t just sock all your cash away in a low-interest savings account. Invest in things that will earn you more money than you had before. Sometimes that’s an investment account, but sometimes it’s starting a business, or even getting an education to get a better paying job.

personalfinance management:                                             Currently,the prevailing view is that one cannot speak of a single science of finance,but there are many sciences of finance (Dobosiewicz, 2000), which also include:Personalfinancial management(Mi?aszewicz, 2001) is a relatively new research area,therefore, in the literature, there are very few definitions on this concept.In the foreign literature, more attention is given to topics such as personalfinance planning. Most scientists identify the concept of personal financemanagement with the concept of household finance managing.

An example of thisphenomenon may be the definition of personal finance management by Garman &Forgue (2008) who thinks that it is the study of personal and family resourcesthat are considered essential to achieving financial success. It applies tosavings, spending, and investment protection of people’s financial resources.However, some, such as ?wiecka (2014), believes that personal finance is anarrower concept than household finances and affect private finance.

?wiecka(2014) suggests a “sensu largo and sensu stricte” approach to personal finance,defining personal finance in the broad sense as a sub-discipline of economicsciences related to the management of financial resources by individuals. Inthis case, the term “personal finance managing in the broad sense” may besynonymous with the term “household finance.” In contrast, in the strict senseof personal finance, it is a sub-discipline of the science of finance dealing withthe acquisition of funds, their collection, and spending by individuals.

According to Kapoor, Dlabay, & Hughes (2007), personal finance managementis a process of continuous management of money, consisting of activitiesrelated to the preparation and implementation of monetary operations. The mainareas of personal financial management may include( Kapoor et al., 2007):• obtaining income – to receive resourcesfrom employment.• spending – the purchase of consumer goods •savings – depositing money for “rainy day” or toward specific financial goals.

 •investing – buying investment products to make a profit. • lending – borrowing and lending of variouskinds. • riskmanagement – the use of various financial products, eg. • retirement planning –depositing and investing money for the future; • taxplanning – skillful use of tax credits. • wealth transfer – transfer of assets toheirs Personal circumstances differ considerably,with respect to patterns of income, wealth, and consumption needs.

Tax andfinance laws also differ from country to country, and market conditions varygeographically and over time. This means that advice appropriate for one personmight not be appropriate for another. A financialadvisor can offer personalized advice incomplicated situations and for high-wealth individuals, but University ofChicago professor Harold Pollack and personal finance writer Helaine Olen argue thatin the United States good personal finance advice boils down to a few simplepoints: ·        Pay off your credit card balance every month, in full.

·        Save 20% of your income.·        Maximize contributions.·        When investing savings: Don’t attempt to trade individual securities Avoid high-fee and actively managed funds Look for low-cost, highly diversified mutual funds that balance risk vs.

reward appropriately to your target retirement yearThe limits stated by laws may be different ineach countries; in any case personal finance should not disregard correctbehavioral principles: people should not develop attachment to the idea ofmoney, morally reprehensible, and, when investing, should maintain themedium-long term horizon avoiding hazards in the expected return of investment.    References*DobosiewiczZ. (2000). Wprowadzenie do finansów i bankowo?ci Introduction to finance and banking, Warszawa: PWN.*Garman, E. T.

, & Forgue, R. (2008). Personal finance. USA: Houghton MifflinCompany *Kapoor, J. R., Dlabay,L. R.

, & Hughes, R. J. (2007). Personal finance (8th ed.). New York,McGraw-Hill. *Mi?aszewicz, D. (2001).

Problemy zarz?dzania finansami gospodarstw domowych Household financemanagement problems, Twój Kapita? 2001, Zachodniopomorskie ForumFinansowo-Kapita?owe, Szczecin, 337 *?wiecka,B. (2014). Finanse osobiste jako subdyscyplina finansów Personal Finance as afinance sub-discipline. In: B.

?wiecka (ed.), Wspó?czesne problemy finansówosobistych Contemporary issues of personal finance (pp. 18). Warsaw: CeDeWu.*’**’*’