FULL JOY

Exploring the Power Dynamics of Wealth and Debt: Let's work not to become a product to society.

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Your Debt to Income Ratio is a way to measure how much debt you have compared to how much income you earn. It helps you understand if you are spending more money than you can afford. Here's an example: Let us say you make $100 a week and have $50 of debt. Your Debt to Income Ratio would be 50%.

Having a low Debt to Income Ratio is crucial because it means you are not spending too much on debt payments and have more money to save and spend on things you want. Ideally, you want your Debt to Income Ratio to be less than 36%.

Before we share some examples of how you can avoid spending too much money and keep your Debt to Income Ratio low:

Let us introduce our mind reset quote:

If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed." –Edmund Burke.

Here are four easy-to-follow examples you can implement today to increase your income and lower debt.

  1. Make a budget: By making a budget, you can see where your money is going and make sure you're not spending too much on unnecessary things.
  2. Avoid impulse buying: Ask yourself if you need it before buying something. You are waiting a day or two before purchasing can help you avoid impulse buying.
  3. Save money: Putting some of your money into a savings account can help you avoid borrowing money and getting into debt.
  4. Avoid using credit cards: Credit cards can be tempting, but they can also lead to a lot of debt. So it's best to avoid using them and pay for things with cash or a debit card instead.

    5. In addition to these practical tips, reading books on personal finance and budgeting can help you learn how to manage your money wisely.

    YOU ARE A MIRACLE. LIVE LIFE ON PURPOSE!

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    FULL JOYBy Kevin Brown
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