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Debt-Income Ratio 2
- Jessie Jimenez
The next debt-to-income ratio is for all your consumer debt. This means any balance that you carry on a credit card,
An car payments,
Any monthly debt payments that are not for your housing. So boats,
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.
Financial Counseling by Dorothy B. Durband, Ryan H. Law, and Angela K. Mazzolini