Often, the first real financial lesson is learnt when you realise you have got too much debt with little or no means to pay it off. The three major issues that should concern you are: liquidity to meet emergencies, ability to meet long-term debt obligations such as the 15-year home loan that you have taken, or whether you are saving as much as you think you should. Also, it is important to realise the true worth of your holdings to judge your solvency. Here are some of the ratios that will help you get a fix on your financial status.

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