I read this article yesterday on debt to income ratio. While it may seem straight forward on how to calculate it, I found the ratings interesting. I thought I would share.
Add all your monthly debt obligations (using minimum monthly payments for credit cards) and divide it by your monthly gross income.
If you are under 36%, you are in great shape. If you are between 37-42% you are in an acceptable range. If you are in a 43-49% range you have too much debt and if you are over 50%, you are in trouble.
I haven't gotten up to courage to calculate our situation yet :)
About Me
- JSmith5780
- I am a wife and mom of 3 little boys. My oldest is 6 and had Infantile Spasms and clonic seizures. His seizures are currently controlled by Vigabatrin, a non-FDA approved drug. My twins are 5. One is a typical, energetic little boy and the other has been diagnosed with Asperger's, an Autism Spectrum Disorder. This blog tells of our everyday lives and our struggles to get the best care and services for our boys. I also work full-time as a contract Materials Engineer.
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