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Debt-to-Income
Your debt-to-income ratio is an important part of your overall financial health. This is calculated by taking your total monthly debt and dividing it by your monthly income. We recommend that less than 36% of your pre-tax income should go to debt repayment, including:
- Mortgage/Rent
- Minimum Credit Card Payment(s)
- Student Loans
- Auto Loans
- Personal Loans
- Other Debt
Is debt causing you stress?
Regardless the cause of your debt – be it over-spending, salary reduction, or emergency expenses – it's important to recognize if and when you're paying out more money than you're bringing in (your income). If your debt-to-income ratio is too high and causing you stress, you're not alone. And you do have options.
Credit Counselors
Need help with debt?
Fill out the form to be directed to one of our Financial Planners who can help you better understand how to manage your income and expenses.
Sentinel and Balance are not affiliated and Sentinel is not responsible for recommendations provided by Balance & its representatives.
