Debt to Income Ratio by kyle white https://padlet.com/kylew8843/4xq2ftnv0k9b7cs2 Lesson 4.3 en-us 2020-12-15 22:39:30 UTC 2020-12-15 23:11:29 UTC hello@padlet.com What is debt to income ratio? kylew8843 https://padlet.com/kylew8843/4xq2ftnv0k9b7cs2/wish/1022184057 One of the better-known measures of household
debt load is the debt-to-income ratio, or DTI ratio.
The measure is commonly used to determine if the
household qualifies for a mortgage or loan (iBook, Balancing Credit and Debt, 11)]]> 2020-12-15 22:43:16 UTC https://padlet.com/kylew8843/4xq2ftnv0k9b7cs2/wish/1022184057 What will your debt:income ratio be? kylew8843 https://padlet.com/kylew8843/4xq2ftnv0k9b7cs2/wish/1022188359 My future job as a professional gamer should yield me an annual salary of $60,000, plus streaming and tournaments (could yield over $100k/year).
I'm figuring my monthly income to be $8334 and my debts (house, car, utilities, cc's, insurance, misc) to be $4500 so my DTI would be 54% (kinda high) ]]> 2020-12-15 22:45:49 UTC https://padlet.com/kylew8843/4xq2ftnv0k9b7cs2/wish/1022188359 How can you keep a high credit score? kylew8843 https://padlet.com/kylew8843/4xq2ftnv0k9b7cs2/wish/1022207908 -pay your bills on time, every time
-don't get close to the credit limit (no more than 30 percent of your total credit limit)
-long credit history
-only apply for credit you need
(iBook, Balancing Credit and Debt, 13)

]]> 2020-12-15 22:57:40 UTC https://padlet.com/kylew8843/4xq2ftnv0k9b7cs2/wish/1022207908 Specific actions to avoid so that your credit score won't go down. kylew8843 https://padlet.com/kylew8843/4xq2ftnv0k9b7cs2/wish/1022214013 -Avoid spending to credit limit
-Avoid applying for a lot of credit over a short period of time
-Avoid closing accounts
--Avoid not using your credit cards
(iBook, Balancing Credit and Debt, 13)]]> 2020-12-15 23:01:14 UTC https://padlet.com/kylew8843/4xq2ftnv0k9b7cs2/wish/1022214013