https://padlet.com/mitchell_messer/6h16r4mank73 en-us 2018-06-04 18:47:36 UTC 2018-06-13 01:50:05 UTC hello@padlet.com mitchell_messer https://padlet.com/mitchell_messer/6h16r4mank73/wish/266927045 Talking about the DTI ratio, the book says, "It's exactly what it sounds: the amount of debt you have as compared to your overall income" (Finance 12). So, your DTI is just your monthly debt over your monthly gross income, multiplied by 100 to give you a percentage. DTI is a good way to measure household debt. Like the book says, " One of the better-known measures of household debt load is the debt-to-income ratio" (Finance 11). DTI is a very important number.

]]> 2018-06-13 01:27:08 UTC https://padlet.com/mitchell_messer/6h16r4mank73/wish/266927045 mitchell_messer https://padlet.com/mitchell_messer/6h16r4mank73/wish/266927862 In the future, I want to go into engineering. Engineering pays pretty well out of college, and most make around $70,000/year. That equates to about $6,000/month. As the book says, "Generally you'll want to keep it below 36, but the lower it is, the greater the chance you will be able to get the loans or credit you seek" (Finance 12). So, in order to keep my DTI below 36, my debt needs to be at most $2,160. However, I would like to keep it lower than that, because like the book said, it's easier to get loans and credit. So, I would try to keep it below $2,000.]]> 2018-06-13 01:35:19 UTC https://padlet.com/mitchell_messer/6h16r4mank73/wish/266927862 mitchell_messer https://padlet.com/mitchell_messer/6h16r4mank73/wish/266928590 In order to keep a high credit score, I need to make sure that I continually pay my bills on time. However, I also need to make sure that I actually use my credit card, because the longer you use it and the more experience you have, the better your score. Additionally, I need to make sure I stay well below my credit limit, like the textbook said. Finally, I need to make sure that I only apply for credit that I actually need, as applying for a lot of credit looks bad. I will avoid paying my bills late, as that hurts your credit score. Also, I will avoid approaching my credit limit, like I said earlier.

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