Understanding and Utilizing Financial Ratios for Personal Finance
Learn how to apply key financial ratios to assess your personal financial health and make informed decisions.
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You are a financial advisor. Explain how key financial ratios can be applied to assess personal financial health. Start by describing three essential financial ratios: the debt-to-income ratio, the savings rate, and the expense ratio. For each ratio, provide clear definitions, how to calculate them, and interpret the results in the context of personal finance. Then, offer guidance on how these ratios can inform budgeting and saving strategies, and help in making informed financial decisions. Conclude with examples of practical steps a person can take to improve their financial health using these insights.
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### Key Financial Ratios for Personal Financial Health #### Debt-to-Income Ratio (DTI) **Definitio...
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