Finance is a broad term that essentially refers to money management or channeling money for various purposes. It applies to people, businesses, governments, organizations, or other entities. Finance includes banking, debt, capital markets, investments, credit, assets and liabilities, financial systems, and the governance and study of money.
In a personal context, personal finance is managing, saving, and investing one’s money. In a business setting, it handles acquiring funds for the business, managing existing funds, and planning how to spend funds in the future. Finally, for the public, finance refers to managing the government’s activities related to budgeting, spending, deficits, and taxation.