Business World

Calculating Your Creditworthiness

You can calculate your own debt to income ratio by determining your monthly debts. You should look at your recent credit card statements to see what you have been paying for on average each month. You should determine your total monthly income if you have a fixed salary, then you will need numerous of the recent pay stubs in order to determine your gross income per month. Divide the monthly debt expenses by the monthly gross income to arrive at your debt to income ratio. You then increase your income by considering take on a second or part time job, Lower expenses and reviewing your investments among others.