According to financial experts, even if people have a lot more money than they had a few decades ago, the amount of knowledge on how to handle that money has not kept up with the times (Maura Fogarty, 2012). (Maura Fogarty, 2012). Everyone needs to practice these skills and take ownership of budgeting and managing their finances. Setting up a household budget, saving money, making investments, and making retirement plans all need this. This article looks at the idea of financial management, its importance, how each person may plan and manage their finances, and the state of financial management knowledge in India.
In addition to teaching readers how to plan and manage their money for their own good both now and in the future, this work attempts to increase people's understanding of the need of doing so, which tangentially advances national development. Index Terms: Debt, India I, Middle Class, Investment, Personal Finance.