Money IN/Money OUT Your Credit Inventory on ___________(date)

Lender and Account Number	Address and Telephone Number	Account Holder	APR	Total Amount Owed	Monthly Payment Due
TOTAL Debt Load and Monthly Payments

Analyzing Your Debt
What is your usual, monthly take home pay? $________________

Total monthly debt payments EXCEPT mortgage divided by monthly take home pay = __________%

• If your rate is 10% or less, great! You are a good credit manager.
• 2-hIf your rate is 15%, you need to slow down and set some limits.
• If your rate is 20%, you are at the recommended maximum.

Another way of evaluating your debt is how long it would take to pay off all your debt with 10% of your monthly take home pay:

Total debt Load = _____________number of months to reduce debt to $0
10% of monthly
take home pay

• Ideally, the maximum number of months should be between 24 and 36.

_{North Carolina State University
College of Agriculture and Life Sciences
North Carolina Cooperative Extension Service
Family & Consumer Sciences Department}