4.3 Balancing Credit and Debt by Jenni Mejia https://padlet.com/jennimejia0619/ysk1b72ybpd8 Including at least 3-4 cited references to the reading, explain what debt to income ratio is. Then, think about your future income in your planned career. What is will your debt to income ratio be? What can you do now and in the future to keep a high credit score? What specific actions will you avoid so that you credit score won't go down? en-us 2017-04-28 18:18:33 UTC 2024-10-02 01:18:57 UTC hello@padlet.com Debt to Income Ratio: jennimejia0619 https://padlet.com/jennimejia0619/ysk1b72ybpd8/wish/169461399 Used to determine if the household qualifies for a loan/mortgage.
“The DTI ratio compares gross income (before-tax income) to the debt load a household is carrying.  Individuals with high DTI ratios will have difficulty repaying loans because their monthly debt payments are a relatively high proportion of their total income" (Pg. 11).]]> 2017-05-02 15:43:38 UTC https://padlet.com/jennimejia0619/ysk1b72ybpd8/wish/169461399 My Debt to Income Ratio: jennimejia0619 https://padlet.com/jennimejia0619/ysk1b72ybpd8/wish/169462270 0% ]]> 2017-05-02 15:45:49 UTC https://padlet.com/jennimejia0619/ysk1b72ybpd8/wish/169462270 How to Keep my Credit Score High and Things to Watch Out For: jennimejia0619 https://padlet.com/jennimejia0619/ysk1b72ybpd8/wish/169462752 -Pay my Bills on time 
“One way to make sure your payments are on time is to set up automatic payments, or set up electronic reminders. If you’ve missed payments, get current and stay current" (Pg. 13).
-Don't get close to my credit limit 
-A long credit history will help my score 
-Only Apply for the credit I need
“Credit scores look at your recent credit activity as an indicator of your need for credit” (Pg. 13). 
]]> 2017-05-02 15:46:59 UTC https://padlet.com/jennimejia0619/ysk1b72ybpd8/wish/169462752 jennimejia0619 https://padlet.com/jennimejia0619/ysk1b72ybpd8/wish/169496264 2017-05-02 17:32:59 UTC https://padlet.com/jennimejia0619/ysk1b72ybpd8/wish/169496264