Since we have discussed about personal cash flow statement and net worth statement, it is time to talk about the financial rates and ratios. Ratios using data from cash flow statement Savings ratio Savings ÷ Gross income It shows what percentage of your gross income is set aside for future consumption. The benchmark is at …
Net worth statement is one of the statements that we use in personal finance review. In this article, we will see how this statement looks like. Sample personal net worth statement The values used in the statement are taken on a specific date only, generally year-end (31 December) but it can be any date. It …
In personal finance review, we will use two statements to determine your financial standing. These statements are cash flow statement and balance sheet or net worth statement. Cash flow statement This statement deals with your cash inflows and outflows. The inflows are every ringgit that you receive, such as your salary, dividends, and interests while …
