Personal Finance And Investing Archives: Economy
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21 December 2008
Getting Debt Under Control
As individuals, we often represent a microcosm of the country. In 2006, the US savings rate went negative, and it remained anemic for quite a while thereafter. At the time there was some beard-wringing; but ultimately some argued that this was nothing to worry about, because our stocks and houses were worth so much more. The obvious problem with that logic has become clear: it doesn’t take into account gains or declines in asset value. So when you have a sharp and sudden decrease in those asset prices, your negative savings rate is even worse than it would appear at face value.
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14 December 2008
Finding Your Net Worth
Net Worth is the value of your assets less the value of your liabilities. It sounds very simple, and it is in theory, except that each of those key words: value, assets, liabilities can be a bit hard to interpret. Moreover, as much as we may want them to be, they are not static. Even the value of your very liquid assets, including your cash, is changing. So starting with the basics.
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