Your personal economy represents the health of your financial life.

Your personal economy represents the health of your financial life. It incorporates all the things you value most - your family, your home, your passions, your work, your experiences, your legacy. Simply put, your personal economy is how you use your finances for all the things that matter to you. There's plenty to learn about personal financial topics, but breaking them down can help simplify things. To start expanding your financial literacy, consider these five areas: budgeting, building and improving credit, saving, borrowing and repaying debt, and investing. The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.