Published Paper Details:

Personal finance is a skill set that every people should have in their life. It gives financial freedom and financial security for future. It should be indulged in everybody's life style to check their daily expenditure, should know where they are over spending. If everybody asks themselves that, is it really necessary to spend before making any financial decision, they can save a lot of money from unnecessary spending. People with limited income should make their financial plan accordingly and they should have proper budget for every expenditure. It will be better if they are able to maintain monthly budget for their expenses. It will give them a target rather a blue print of their spending. So, this will help to create a clear understanding of their savings. Savings of money is not enough for future financial freedom; it should be invested accordingly for future wealth creation. In this study, college teachers' spending and investing behavior has been studied and it has been found that they are spending maximum portion of their income to satisfy their basic needs followed by medical expenditure. In investment portion, they are choosing secured financial instruments which brings assured return in future which helps them to meet their future obligations after retirement.