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Debt vs paycheck - how much is too much?
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Been chatting with a friend about finances and she mentioned something called debt-to-income ratio. Basically, it's how much of your monthly income goes straight to paying debts (loans, credit cards, mortgage, etc.). Got me thinking...um, I never really calculated mine before. Curious if most people here keep track of this stuff or just wing it like me, lol.
Quick poll:
Do you regularly track your debt compared to your income?
- Yep, every month
- Nah, never bothered
- Only when applying for loans
- Wait...what's debt-to-income ratio again?
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