Net worth equals assets minus liabilities. Money equals freedom through more options and opportunities. Millionaires invest 20% of household income annually
Credit card balance is total money owed to issuer. Balances increase with purchases and decrease with payments. Includes purchases, balance transfers, fees, and interest. New balances updated within 24-72 hours after transactions
Net debt-to-EBITDA ratio measures company leverage by dividing total debt minus cash by EBITDA. Ratio shows years needed to pay back debt with constant net debt and EBITDA. Can be negative if company has more cash than debt
NerdWallet started in 2009, provides detailed financial advice since then. Good Financial Cents founded by Jeff Rose in 2008, offers budgeting and debt advice. The Balance has been operating for over 20 years, covering various financial topics. The Simple Dollar started in 2006, focuses on debt repayment and savings
U.S. national debt exceeds $35.85 trillion as of October 2024. Debt-to-GDP ratio reached 121.57% in second quarter 2024. Net interest payments projected to reach $870 billion in 2024
Financial literacy is the ability to effectively manage various financial skills. It leads to greater monetary stability and reduces stress. Warren Buffett emphasizes the importance of personal investment