A debt-to -income ratio is the percentage of your monthly income that is used to pay back your debt. It is a great way to work out if you are over-indebted and spending too much of your salary paying back your creditors. It is also used by lenders to work out if you qualify for loans. A healthy ratio on the other hand means that you debt is manageable and you can use your income to cover living expenses and save some money too!
Debt-to-income ratio
Our user-friendly calculators are here for you to gain the insights you need in making the smart choices that will empower you to protect and grow your wealth. The calculators do not provide any advice or recommendation in relation to the suitability of any products.
It’s important to note that the calculations are only estimates, based on your inputs and assumptions. Interest rates are a factor in all of them, and these vary from one financial services provider to another and are influenced by several factors including your credit history.
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