Personal Financial Planning Definition: Financial management of money by an individual or a family unit is known as Personal finance. The steps involves earning, spending and saving the income by keeping an account of risks involved and future life events. According to the Oxford dictionary, the word ‘finance’ signifies ‘management of money’. Khan and Jain,

Optimism Bias Definition: Optimism bias is a cognitive bias that makes an individual believe that they will be relatively safer than others if any negative event were to occur. When someone’s subjective confidence in their judgments is reliably greater than their objective accuracy, that person has optimism bias. It is like living in the utopia