National Debt Relief Talks About Financial Knowledge For 35 Year Olds
Dallas, TX (PRWEB) December 22, 2016 -- National Debt Relief recently shared in an article published December 6, 2016 some of the financial questions people had to know about if they are already around 35 years of age. The article titled “10 Financial Questions You Should be Able to Answer by Age 35” helps consumers get a better grip on their finances by helping them understand what their level of financial knowledge should be based on their age.
The article starts off by pointing out that consumers who are around 30 years of age should by now have heard financial terms such as APR, index funds and even debt-to-income ratio. However, it is not enough that they have heard about it because they need to have an idea how these and a lot more affects their financial standing.
The article starts off by explaining the basics of how a household budget works and what the essential components should be in every list. First off, consumers need to put in the essentials such as rent or mortgage, food and other utility expenses. Debt payments and future funds such as retirement and reserve money should form an integral part of the budget as well.
Consumers also need to know what their net worth is to help them understand the big picture when it comes to their finances. This is easily computed by deducting liabilities from their assets. The hard part is getting the numbers for each as liabilities and assets are made up of several items. Getting the number helps consumers understand their financial position and be in a position to craft improvements as they go along.
The article also shares that consumers need to know how much they actually need in their reserve funds to make it relevant. It is ideal that people have about 3 to 6 month’s worth of living expenses in their emergency fund. This is to cover even the loss of a job which usually takes a few months for people to get a new one.
To read the full article, click https://www.nationaldebtrelief.com/10-financial-questions-answer-age-35/
Paul Ritz, National Debt Relief, http://www.nationaldebtrelief.com/, +1 888-703-4948, [email protected]
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