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32 Examples of Personal Economy

John Spacey, updated on April 09, 2024

Personal economy is the practice of viewing your finances as an economic system. A personal economy is perhaps an intriguing way to think of your economic life whereby you create value, capture value and put it to work to live your life and save for the future. The following are common elements of a personal economy.

Budgeting	Business Ventures
Career Plan	Charitable Giving
Credit & Credit Score	Debt
Education Savings	Emergency Fund
Employment	Estate Planning
Family Businesses	Family Support
Financial Decisions	Financial Goals
Financial Planning	Generational Wealth
Homeownership	Household Efficiency
Household Expenses	Income
Insurance	Investments
Net Worth	Personal Expenses
Retirement Plan	Risk Tolerance
Savings	Side Hustles
Spending Efficiency	Spending Habits
Taxes	Unplanned Financial Events

A personal economy can include elements such as life long learning and your career plan that may influence your long term employment or business income.

Spending efficiency relates to getting value for your money and household efficiency relates to the ability of a household to manage resources, time and energy.

Summary

The practice of thinking of your personal economic life as a small economy. This may be an interesting perspective for personal planning and budgeting.

Discussion

Personal economy has its roots in home economics, a historically common course in high school in the United States that taught household management, family budgeting and consumer economics alongside practical skills in areas such as cooking, sewing and childcare.

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