Jessie Jimenez

Debt-Income Ratio 3

The next debt-to-income ratio is for all your consumer debt. This means any balance that you carry on a credit card,
<img src="/images/creditcardpost.jpg" alt="credit card">
An car payments,
<img src="/images/car.jpg" alt="car">
Any monthly debt payments that are not for your housing. So boats,
<img src="/images/boat.jpg" alt="boat">
You name it! All your consumer debt paid monthly dvided by your monthly income should be below 15%. Lower is even better! Okay, next week we will cover the back-end ratio.
Sources:
<img src="/images/sources1.jpg" alt="sources">
Financial Counseling by Dorothy B. Durband, Ryan H. Law, and Angela K. Mazzolini