Personal Finance Management involves planning and controlling your financial activities to achieve your financial goals. It includes budgeting, saving, investing, and managing debt. By tracking income and expenses, individuals can make informed decisions about their spending and savings, ensuring they live within their means. Effective Personal Finance Management also emphasizes the importance of setting financial goals, such as saving for retirement or buying a home. Tools like budgeting apps and financial advisors can help individuals create a plan and stay on track. Ultimately, good financial management leads to greater financial security and peace of mind.