Three part Question How can you utilize financial ratios in your personal finances? Why is it...
Three part Question
How can you utilize financial ratios in your personal
finances?
Why is it important for you to be aware of your
personal financial ratios?
How can ratios help you with your personal
goals?
Homework Answers
Financial ratio in personal finance;
Like financial ratios in corporation are used to analyze the position of the company. Similarly these ratios can be used to analyse the personal finance. The ratio helps to manage personal finance needs and helps to take better decision.
Important of being to be aware of your personal financial ratios
The ratio assist to the make better decisions. These helps us to improve our financial health.
The ratios will assist in the understanding the financial needs
How can ratios help you with your personal goals
Basic liquidity ratio = cash /monthly expenses
This ratio helps to keep minimum cash form monthly expenses
Saving ratio = Saving/Income
This shows the total savings as % of income.
Debt assets ratio = debt /total assets
This ratio shows the amount of debt in the individual total assets.
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