What Does Debt to Income (DTI) Really Mean?
Topics: Debt & Debt Consolidation, Home Buying & Selling
When lenders sit down to review a loan application, there’s one main question they ask: Is the borrower trust worthy enough to lend to? Many factors influence the lending decision, including your credit score, terms of the loan, employment history, collateral, and, your debt-to-income ratio (DTI).
Your DTI is a percentage calculated by dividing your monthly gross income with your monthly debt payments. Follow the steps below to discover your own DTI.
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How To Create Your Budget & Stick To It
Topics: Budgeting & Improving My Finances, Debt & Debt Consolidation
You know you want to live debt-free. You understand the core principles that make up a good get-out-of-debt game plan. So, now the hard part: Getting started.
3 Ways to Weave Giving into Your Financial Plan
Topics: Budgeting & Improving My Finances, Debt & Debt Consolidation, Merging Faith with Finances
St. Francis of Assisi said, “It is in giving that we receive.” Generosity, whether big or small, is a big part of Christianity. And for those who are trying to match their faith-based values with their financial ones, giving should be part of the financial plan.
How To Save & Control Debt At The Same Time
Topics: Budgeting & Improving My Finances, Debt & Debt Consolidation
When you’re focusing on paying down debt, setting aside money in a savings account each month may seem like a daunting task. Don’t let your savings goals suffer while you’re accomplishing other tasks on your financial checklist.
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What's Your Contingency Plan?
Topics: Budgeting & Improving My Finances, Debt & Debt Consolidation
Despite all your planning and preparing, something will go wrong. Your dishwasher may break. Your car may need repairs. A health emergency may arise. Life happens, and sooner or later you’ll be faced with an unexpected expense. That’s why it’s so important to build in a contingency plan.
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How To Create Your Debt Game Plan & Build Credit
Topics: Budgeting & Improving My Finances, Debt & Debt Consolidation
Sometimes the hardest part of getting out of debt is getting started. Once you’ve identified your financial goals and initiated new spending habits, it’s time to create a game plan for reducing debt and building credit.
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