What is your debt to income ratio?

Avatar for lovmy2kids
iVillage Member
Registered: 03-26-2003
What is your debt to income ratio?
6
Sun, 10-24-2004 - 12:55am

What is your debt to income ratio?



  • Under 20%
  • 20 to 30%
  • 30 to 40%
  • 40 to 50%
  • 50 to 60%
  • 60 to 70%
  • 70 to 80%
  • 80 to 90%
  • 90 to 100%
  • Over 100%


You will be able to change your vote.


 

Avatar for lovmy2kids
iVillage Member
Registered: 03-26-2003
Sun, 10-24-2004 - 1:10am
The poll about how much debt we have, got me to thinking. Comparing the amount of debt we have is really like comparing apples to oranges. A two income household with no kids is just not the same as a one income household with 4 kids. Our debt to income ratio is a more comparable number. After all the bottom line is that you have to make more than you pay out. I found a good calculator at http://www.smart-debt-consolidation.com/debt-to-income-ratio-calculator.html just to stay consistant with each other I just included payments that are financed (regardless of the interest)and did not include utilities. I suppose you should also include payments that are not financed (but normally would be)because they are made to a private person.

-Darcy

 

iVillage Member
Registered: 09-21-2004
Sun, 10-24-2004 - 8:40pm
I have to say we are not as bad of as I thought but do need to work on it. Actually I'm pleased cause I was thinking the worst. :)
Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Mon, 10-25-2004 - 10:05am

OK, we are the worst....LOL!!!

iVillage Member
Registered: 03-31-2003
Mon, 10-25-2004 - 10:30am
I am in the under 20%, but only if I consider DH's income, which I don't when it comes to my cc debt. So it's a car loan and a small bank loan shared between the two of us, plus my cc debt, against the household income to arrive at that %. We own our other car and the house outright; that's how it comes out to be so low. If I take just my part of the shared debt plus my cc debt against just my income (zero regular at the moment), I go right to the other end of the scale




Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Tue, 10-26-2004 - 7:46pm
YIKES! According to the calculator I'm at 94.78% and that doesn't count car insurance, cable, cell phone, electric etc. No wonder our snowflakes are few and far between!


Susan

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iVillage Member
Registered: 04-05-2003
Wed, 10-27-2004 - 12:51pm
We were around 50%, which is not bad considering a few years ago when we first started to pay attention to our finances, we were over 100%!!
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