Experts advise that your debt payments to take home pay, Financial Management

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Experts advise that your debt payments to take home pay

Experts advise that your debt payments to take home pay ratio should not exceed 20%. A homeowner has the following monthly income and expenses:

Item Value

Gross salary $2,000

Taxes/social security $ 340

Visa card payments $ 35

Mastercard payments $ 30

Discover card payments $ 20

Auto loan payments $ 385

What is the homeowner's "debt payments to take home pay" ratio?

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Financial Management: Experts advise that your debt payments to take home pay

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Financial Management: Experts advise that your debt payments to take home pay

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