11 Best Financial Concepts To Understand Before Turning 30

As you become an adult and will start to take control of your finances, you’ll need to understand some basic financial concepts.

And when you start to master these important concepts, you’ll set yourself (and your family) up nicely because you will start to make better decisions with your money.

What Are The Basic Financial Concepts?

To be well established later in life, you want to understand these topics before the age of 30, but getting a later start is okay too.

1. Net Worth

Your net worth helps you measure your current financial wealth and is calculated by taking your total assets minus the total amount you owe.

To fully understand how to build your net worth and be able to retire comfortably, you have to appreciate the value of compound interest.

2. Compound Interest

Inflation refers to the consistent increase in the cost of goods and services. As prices of goods or services rise due to inflation, it means you’ll able to afford less and less.

3. Inflation

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