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Know about personal financial management and how it is used.

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Personal Financial Management:

While the word "personal financial management" is frequently used to refer to methods of managing your personal money,

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It is also an actual term typically abbreviated as PFM and refers to the sort of software used for personal finance apps.

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Personal financial management, or PFM, refers to the software that powers a variety of personal finance and mobile banking apps.

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Since its inception in 1983, the program has evolved and expanded beyond its original goal of decluttering and simplifying bill paying.

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PFM software and the apps it enables will grow in tandem with changes in customer behavior and needs.

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Quicken drew users by creating a software product that resembled a hard-copy product and tuning it in various ways,

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Customers who used the program allowed it to evolve. That was a significant component of its success.

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For example, after discovering that a third of its users were using the program to track business spending,

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Intuit released what is now known as Quickbooks—a version of Quicken that focused on managing such expenses.

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