Consumer finance refers to the management of money and financial products that individuals use for personal needs. This includes loans, credit cards, mortgages, and savings accounts. The goal of consumer finance is to help people make informed decisions about borrowing, spending, and saving to achieve their financial goals. Understanding consumer finance is essential for budgeting and planning for future expenses. It involves evaluating interest rates, fees, and terms associated with financial products. By being knowledgeable about financial literacy, consumers can better navigate their options and avoid pitfalls like excessive debt or poor investment choices.