Financial Health And Wellness is an easy to create lifestyle that brings a balance between having good debt, living life and saving for the future.  It is a commitment to yourself or with your spouse or partner to become financially free. A Financial health and wellness lifestyle will allow you to  take control of your financial situation reduce your debt and actually start saving money for vacations, holidays, and most importantly financial security. Financial Health And Wellness wellness is a guide written in eBook format so that you can take advantge of the many features of this excellent digital medium. 

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Have you ever wondered how much you can spend per month before your debt is considered unhealthy?

Your not alone, I am sure there are many people that just don’t know the point at which there monthly debt is too high and has them on the verge of serious financial problems.

Debt to income ratio or (DTI) is the percentage of your gross income that is spent on fixed monthly debts. I healthy DTI is considered to be when the percentage of your gross income spent on fixed monthly debts is less than 36%.

The FHA maximum debt to income ratio for approving a mortgage loan is 29%. This includes all costs associated with your monthly mortgage. Principal and interest, escrow deposits for taxes, hazard insurance, and mortgage insurance premium, So this only allows 7% of debt to be on other fixed monthly expenses. Car loans, personal loans, boat loans, credit cards, and other loans.

Problem is, all of this is calculated on your gross income and to me doesn’t accurately reflect the real situation. What I personally do is calculate my debt to income ratio on my net income to get a realistic look of what is going on.

A good rule of thumb is to keep your debt to income ratio for non mortgage related expenses to less than 8% with a long term goal of 0% or no debt at all, which is where you would like to be at retirement. We all know that a DTI of 0% is not actually possible because you will always have some recurring bills. Just keep in mind that the closer to 0% debt to income ratio the more financially healthy you are. Remember to evaluate yourself on your net income and you should be doing even better.

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