PFM, or Personal Finance Management, refers to the process of managing an individual's financial activities, including budgeting, saving, investing, and spending. It involves tracking income and expenses to make informed decisions about money. Effective PFM helps individuals achieve their financial goals, such as buying a home, saving for retirement, or paying off debt. Tools and applications for PFM, such as budgeting apps and financial planning software, assist users in organizing their finances. These tools often provide features like expense tracking, goal setting, and financial analysis, making it easier for individuals to understand their financial situation and make better choices.