Tip 2: Determine Your Debt Percentage
Virtually everyone has some form of debt, and that’s not always a bad thing. But having too much debt can cause undue amounts of stress in your life and begin to spill out of control. Debt can easily build upon itself and it is important for you to know how much of your income is going towards it. Do you spend more than 28% of your income on your housing rent or mortgage? Do you spend more than 40% of your income on paying debt? If so, you should focus on reducing those items or, even better, finding ways to generate more income to reduce your debt percentage.
To see all the tips, visit: 30 Tips to Ensure Your Financial Fitness
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Interesting article. Were did you got all the information from…
When you’re calculating the %, do you use your gross salary or net after taxes?
Is the mortgage payment the only thing considered? Or, do you include the interest, insureance & utilities also?