FINANCAT PERSONALE SFIDË BASHKËKOHORE
PERSONAL FINANCES - CONTEMPORARY CHALLENGE

Summary/Abstract: The purpose of this paper is financial education and personal finance management, which is a very important component because a financially educated individual increases the opportunity for personal finance growth and as such contributes to the performance of a country's economy. Today, the reality in Kosovo shows that Albanians lack information about this field, due to the economic and political transition that our country has gone through. Another reason is the lack of information in high school curricula. Young people are the future of the country and as such they need to be educated financially, so the government must create opportunities for them and support programs. Together with the systems of good governance, democracy and the rule of law, it is the human and social dimensions of Kosovo that underlie economic growth. Good financial planning and maintaining financial stability will help prevent financial crises, which are associated with irreparable social consequences such as divorce and other consequences that distort the normal continuity of a healthy family or an unconditional individual personality. This paper is dedicated to the general public, in order to simply approach the basic concepts and notions from the field of personal financial management. During the preparation of this paper, efforts have been made to be understandable for both the younger generations and people who do not have formal economic education, so that through this paper the public is informed what is the most appropriate way to manage financial resources that to achieve the desired goals. More specifically, the paper provides an explanation of how money can be managed wisely, how to prepare financial plans and monitor their implementation, how to be careful and not to be overburdened with financial debts, how to use funds carefully taken with credit and credit cards and regularly pay off debts etc.

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