{"id":7299,"date":"2023-01-30T13:50:05","date_gmt":"2023-01-30T13:50:05","guid":{"rendered":"https:\/\/rakshithpai.com\/?p=7299"},"modified":"2023-01-31T14:56:48","modified_gmt":"2023-01-31T14:56:48","slug":"financial-ratios-help-budgeting","status":"publish","type":"post","link":"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/","title":{"rendered":"Five (5) Financial Ratios To Help With Our Budgeting;"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6642aa06daed5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\" style='display:none' id=\"ez-toc-cssicon-toggle-item-6642aa06daed5\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#What_is_Personal_Finance\" title=\"What is Personal Finance?\">What is Personal Finance?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#What_Is_an_Emergency_Fund\" title=\"What Is an Emergency Fund?\">What Is an Emergency Fund?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#Importance_of_Budgeting_in_Personal_Finance\" title=\"Importance of Budgeting in Personal Finance;\">Importance of Budgeting in Personal Finance;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#Five_5_Financial_Ratios_To_Help_With_Our_Budgeting\" title=\"Five (5) Financial Ratios To Help With Our Budgeting;\">Five (5) Financial Ratios To Help With Our Budgeting;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#Basic_Liquidity_Ratio\" title=\"Basic Liquidity Ratio\">Basic Liquidity Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#Liquid_Asset_to_Net_Worth\" title=\"Liquid Asset to Net Worth\">Liquid Asset to Net Worth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#Savings_Ratio\" title=\"Savings Ratio\">Savings Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#Debt_to_Assets_Ratio\" title=\"Debt to Assets Ratio\">Debt to Assets Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#Debt_Service_Ratio\" title=\"Debt Service Ratio\">Debt Service Ratio<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#Conclusion\" title=\"Conclusion:\">Conclusion:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#For_More_Information_Check_this_Video\" title=\"For More Information, Check this Video:\">For More Information, Check this Video:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/rakshithpai.com\/financial-ratios-help-budgeting\/#Also_read\" title=\"Also read:\">Also read:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Personal_Finance\"><\/span><strong>What is Personal Finance?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Money management, savings and investments, tax preparation, and retirement preparation are all subsets of personal finance. <\/strong>Budgeting, mortgages, insurance, and other banking procedures are also included.&nbsp;<\/p>\n\n\n\n<p>You might think of personal finance as the realm of goods and services that help you make educated decisions about your money so you can achieve your objectives.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-1 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/zerodha.com\/open-account?c=PR4768\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Zerodha Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p>Making money is easy, but getting the most out of it takes careful financial planning. <strong>In order to save for the future, deal with unexpected expenses, and grow your wealth, you need a solid financial strategy.&nbsp;<\/strong><\/p>\n\n\n\n<p>If you&#8217;ve ever heard the word &#8220;personal finances,&#8221; you know that it may refer to a wide variety of different things depending on who you ask. Read on to discover more about personal finance so you can handle your money wisely.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Is_an_Emergency_Fund\"><\/span><strong>What Is an Emergency Fund?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>An emergency fund is a sum of money set aside for use in the event of a sudden and unexpected expense.&nbsp;<\/strong><\/p>\n\n\n\n<p>An emergency fund is a savings account kept specifically for the purpose of covering small and large unexpected costs, including those associated with a medical emergency or substantial house repair.<\/p>\n\n\n\n<p><strong>Cash or other easily converted assets are typical of what you&#8217;d find in an emergency fund.<\/strong> In this way, you won&#8217;t have to resort to high-interest debt sources like credit cards or unsecured loans or jeopardize your financial future by withdrawing from retirement savings.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Importance_of_Budgeting_in_Personal_Finance\"><\/span><strong>Importance of Budgeting in Personal Finance;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When talking about Personal finance, you might have heard of Budgeting, and more importantly, the word &#8220;Emergency fund&#8221;. As explained above.<\/p>\n\n\n\n<p><strong>It is said that 3 to 6 months of our expenses are sufficient to build an emergency fund. <\/strong>And, having an emergency fund is crucial at times of recession where the possibility of job loss, immediate expenses such as hospitalization, and other contingencies may occur.<\/p>\n\n\n\n<p>Something like now, where the economy isn\u2019t holding up well. And, hence it helps to have a rainy day fund.<\/p>\n\n\n\n<p>But, what do emergency funds and their budgeting mean? What all is included?<\/p>\n\n\n\n<p>Let&#8217;s get started on today&#8217;s topic.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Five_5_Financial_Ratios_To_Help_With_Our_Budgeting\"><\/span><strong>Five (5) Financial Ratios To Help With Our Budgeting;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Basic_Liquidity_Ratio\"><\/span><strong>Basic Liquidity Ratio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Liquidity refers to the ability of an asset to be converted into cash and equivalents at any given point. <\/strong>For example, your cash and bank balance are already in cash. But, your stocks, bonds, and other instruments are listed on the stock market. If they can be converted into cash at a moment&#8217;s notice, they form part of your liquid assets.<\/p>\n\n\n\n<p>As per the Basic Liquidity Ratio formula,&nbsp;<\/p>\n\n\n\n<p><strong>You must have liquid assets worth 3 to 6 months&#8217; worth of your monthly expenses. So basic liquid asset = cash, and cash equivalents (which include liquid assets) \/ your total monthly expenses.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-BudgetingBasic-liquidity-ratio-1024x576.jpg\" alt=\"\" class=\"wp-image-7300\" width=\"1200\" height=\"675\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-BudgetingBasic-liquidity-ratio-1024x576.jpg 1024w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-BudgetingBasic-liquidity-ratio-300x169.jpg 300w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-BudgetingBasic-liquidity-ratio-768x432.jpg 768w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-BudgetingBasic-liquidity-ratio-150x84.jpg 150w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-BudgetingBasic-liquidity-ratio.jpg 1280w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n\n\n\n<p>This ratio is also known as the current ratio or, as we call it more often, the &#8220;emergency fund.&#8221;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Liquid_Asset_to_Net_Worth\"><\/span><strong>Liquid Asset to Net Worth<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Cash is trash if we hold it as it is for a long period of time. For example, holding cash when inflation is over 6% means that close to half of the savings&#8217; purchasing power will be lost within a decade.<\/p>\n\n\n\n<p>But cash is also important in times of need. Right? As a result, we must keep cash and other liquid assets on hand in case of an emergency. But, how much should we hold?<\/p>\n\n\n\n<p><strong>To determine how much cash and cash equivalents you should have in relation to your net worth, we use this ratio.<\/strong><\/p>\n\n\n\n<p>Here, &#8220;liquid asset&#8221; stands for assets such as cash savings, bank deposits, stocks, bonds, and all other assets that are easily convertible into cash at a minute&#8217;s notice.<\/p>\n\n\n\n<p><strong>Divide liquid assets by your net worth. Net worth is nothing but your total assets (-) your total liabilities.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Liquid-Asset-to-Net-Worth-1024x576.jpg\" alt=\"\" class=\"wp-image-7301\" width=\"1198\" height=\"674\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Liquid-Asset-to-Net-Worth-1024x576.jpg 1024w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Liquid-Asset-to-Net-Worth-300x169.jpg 300w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Liquid-Asset-to-Net-Worth-768x432.jpg 768w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Liquid-Asset-to-Net-Worth-150x84.jpg 150w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Liquid-Asset-to-Net-Worth.jpg 1280w\" sizes=\"(max-width: 1198px) 100vw, 1198px\" \/><\/figure>\n\n\n\n<p><strong>So, a healthy liquid asset to net worth ratio is when you have at least 15% of your entire net worth in liquid assets.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Savings_Ratio\"><\/span><strong>Savings Ratio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>The savings rate, defined as the proportion of disposable income that is put aside each year, can be determined for a whole economy, any company, or in this case, an individual. <\/strong>A person&#8217;s disposable income is defined by the Income Tax Act as their total income minus their tax liability.<\/p>\n\n\n\n<p>The savings rate is the fraction of after-tax income that an individual puts away in a savings account or invests for future use.<\/p>\n\n\n\n<p><strong>In economics, the savings rate is a measure of time preference since it represents the rate at which an individual or society is willing to sacrifice some current spending in favour of enhanced future consumption.<\/strong> The marginal inclination to save is connected to the savings rate as well.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-2 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/zerodha.com\/open-account?c=PR4768\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Zerodha Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p>So, now we know we must have 15% in liquid assets. But, how do I reach there? What should we do to build my savings?<\/p>\n\n\n\n<p>To answer this question, we have the savings ratio.<\/p>\n\n\n\n<p><strong>As per this ratio, you must save at least 10% of your total income every year. <\/strong>Remember, your journey to financial freedom begins with saving.<\/p>\n\n\n\n<p>The formula goes like this:<\/p>\n\n\n\n<p><strong>Savings ratio = Savings (which include short-term investments) \/ Your Total Income (that is your post-tax income)<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Savings-Ratio-1024x576.jpg\" alt=\"\" class=\"wp-image-7302\" width=\"1198\" height=\"674\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Savings-Ratio-1024x576.jpg 1024w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Savings-Ratio-300x169.jpg 300w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Savings-Ratio-768x432.jpg 768w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Savings-Ratio-150x84.jpg 150w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Savings-Ratio.jpg 1280w\" sizes=\"(max-width: 1198px) 100vw, 1198px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Debt_to_Assets_Ratio\"><\/span><strong>Debt to Assets Ratio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Total debt to total assets is a measure of leverage that indicates how much debt you have in relation to your total assets. You may evaluate the strength of your leverage by using this statistic.&nbsp;<\/p>\n\n\n\n<p><strong>A person&#8217;s financial security may be inferred from such data. Higher ratios indicate a greater degree of leverage (DoL) and, by extension, a greater likelihood of insolvency.<\/strong><\/p>\n\n\n\n<p>Once your savings are set, you must first concentrate on your debt. Those who are in debt have a difficult time during recessionary periods.<\/p>\n\n\n\n<p>As per this ratio, you must have debt that is equal to or less than half of your total assets. So, the formula goes like this,&nbsp;<\/p>\n\n\n\n<p><strong>Debt to asset ratio = Total debt \/ Total asset.&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-to-Assets-Ratio-1024x576.jpg\" alt=\"\" class=\"wp-image-7303\" width=\"1200\" height=\"675\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-to-Assets-Ratio-1024x576.jpg 1024w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-to-Assets-Ratio-300x169.jpg 300w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-to-Assets-Ratio-768x432.jpg 768w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-to-Assets-Ratio-150x84.jpg 150w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-to-Assets-Ratio.jpg 1280w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n\n\n\n<p><strong>So, all your debt, such as a home loan, a vehicle loan, an education loan, and other payables, must be equal to or less than half of your total assets.<\/strong> If not, try to reduce your debt first before going any further. Why? Because of this next ratio.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Debt_Service_Ratio\"><\/span><strong>Debt Service Ratio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>The debt service coverage ratio (DSCR) is an important indicator of your financial health and your capacity to take on additional loans and interest payments when they come due.&nbsp;<\/strong><\/p>\n\n\n\n<p>Along with the debt-to-equity ratio and the debt-to-total-assets ratio, it is one of three indicators used to evaluate a company&#8217;s ability to incur and service debt.<\/p>\n\n\n\n<p>The debt service ratio is related to the debt-to-asset ratio. Here, we try to estimate our total debt liability, which includes both the principal and the interest cost. <strong>Now, this amount must be below 35% of our annual net income.<\/strong><\/p>\n\n\n\n<p>So, the formula goes like this,<\/p>\n\n\n\n<p><strong>Debt to Service ratio = Annual debt payments \/ Annual net income.&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-Service-Ratio-1024x576.jpg\" alt=\"\" class=\"wp-image-7304\" width=\"1199\" height=\"674\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-Service-Ratio-1024x576.jpg 1024w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-Service-Ratio-300x169.jpg 300w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-Service-Ratio-768x432.jpg 768w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-Service-Ratio-150x84.jpg 150w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2023\/01\/Five-5-Financial-Ratios-To-Help-With-Our-Budgeting-Debt-Service-Ratio.jpg 1280w\" sizes=\"(max-width: 1199px) 100vw, 1199px\" \/><\/figure>\n\n\n\n<p><strong>If your debt service cost is over 35%, then please consider reducing consumption and working on settling your debt.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>These ratios will undoubtedly assist you in making better financial decisions in the future. Remember, anything that&#8217;s related to finance (personal finance) has everything to do with how much you make, what part of it you set aside, and how much you expend.<\/p>\n\n\n\n<p><strong>And if you are rushing to achieve your materialistic financial goals through debt (not suggested), be sure to consider the metrics listed above before making a decision.<\/strong><\/p>\n\n\n\n<p>In line with the topic, I&#8217;ve written a book on &#8220;personal finance.&#8221; It&#8217;s called &#8220;A Personal Guide to Your Personal Finance.&#8221; It&#8217;s an ebook on the topic. Feel free to download it and let me know your opinion of the book.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-3 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/drive.google.com\/file\/d\/14nc90zq5Z6MYjdTXZXZVF9mKIBfLliRM\/view\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Download E-Book!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"For_More_Information_Check_this_Video\"><\/span><strong>For More Information, Check this Video:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe loading=\"lazy\" title=\"Five (5) Financial Ratios To Help With Our Budgeting | Download Free E-BOOK On Personal Finance!\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/hanrQuuRrAw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p><strong>Disclaimer: <\/strong>All the information on this website is published in good faith and for general information purposes only.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Also_read\"><\/span><strong>Also read:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><a href=\"https:\/\/rakshithpai.com\/equity-investing-approach\/\" target=\"_blank\" rel=\"noreferrer noopener\">Best Way to Invest in Equity Market!<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/beginner-trader-tips\/\" target=\"_blank\" rel=\"noreferrer noopener\">10 Tips for Beginner Traders:<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/sectoral-allocation-market-correction\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sectoral Allocation Contributes to Market Correction!<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/types-of-personal-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\">Five (5) Types Of Personal Loans And Their Feature You Must Know!<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/benchmark-vs-portfolio\/\" target=\"_blank\" rel=\"noreferrer noopener\">Use Benchmarks to Measure Portfolio Performance<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>What is Personal Finance? Money management, savings and investments, tax preparation, and retirement preparation are all subsets of personal finance. 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