A balance sheet is a financial statement that takes a point-in-time picture of the financial state of the company, by...

People become over indebted when their excessive personal debts make repayment difficult and cause financial distress. Signs of Over-indebtedness:..

Good financial behaviors to follow include these: Develop a plan for financial future, Start or increase savings, Follow a budget...

Financial statements are compilations of personal financial data that describe an individual’s or family’s current financial condition. They present a...

The time value of money (TVM) is perhaps the single most important concept in personal finance. It adjusts for the...

The rule of 72 is a handy formula for figuring the number of years it takes to double the principal...

Recall the rule of 72, which can be used to calculate the number of years it would take for a...

Components of the Balance Sheet: A balance sheet consists of three parts: assets, liabilities, and net worth. Your assets include...

What Is Owed: Liabilities: The liabilities section of the balance sheet summarizes debts owed, including both personal and business-related debts.

Net Worth is what Is Left. Net worth is determined by subtracting liabilities from assets, as indicated below, the net worth...