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Debt-to-Income Ratio

Do you have enough income to pay your bills on time? The larger your income, the more debt you can handle. You need enough income to meet your monthly expenses, in addition to the payments due on the balance of your debt.

Various formulas have been suggested for calculating the debt-to-income ratio. The average goal is to keep debt to within 20 percent or less. Calculate your debt-to-income ratio with these online tools:

CreditSoup

In addition to a debt-to-income calculator, CreditSoup has payment calculators for auto loans, loan/mortgages, annuity/investments, double investments, monthly income/payments, and home equity

Are you in over your head?

In the Money & Business Tools section of U. S. News & World Report Web site you can "get a rough idea of your debt-to-income ratio and whether it is already higher than is considered manageable on your income."

Borrow only what you can afford

Learn how much is "too much" by calculating your debt-to-income ratio on this easy-to-use site from SallieMae.