20 - Debt to income: How to figure yours out and how much you should have

18/04/2024 27 min Temporada 1 Episodio 20

Listen "20 - Debt to income: How to figure yours out and how much you should have"

Episode Synopsis

In this episode of "Peeling Back Money and Life," Casey and Mike dive into the crucial topic of debt-to-income ratio. They break down what it is, why it matters, and how to calculate it. Discover the ideal range for a healthy debt-to-income ratio and the consequences of having a high ratio. Learn practical strategies for improving your ratio. Plus, explore the mindset shift and environment changes that can help you on your journey to financial well-being. Don't miss this episode filled with valuable insights and tips to take control of your debt and boost your financial health! Tune in now!

Resources
The Total Money Makeover - This book by Dave Ramsey outlines his step-by-step plan for getting out of debt. Dave Ramsey is a well-known personal finance expert who provides advice on budgeting, debt elimination. Best to go somewhere else when it comes to investing.

Pay Your Student Loans Fast - Val Breit. As a college student, Val accumulated thousands of dollars in loans before finding intense determination to get rid of her debt fast. As a public school counselor, Val proved you can get out of debt fast--even on a modest salary--if you create and stick to a plan

Video - The High Price of Materialism and as the book by Tim Kasser. Tim Kasser offers a scientific explanation of how our contemporary culture of consumerism and materialism affects our everyday happiness and psychological health.