Debt Management

How Much Debt Is OK?

Some types of debt are unavoidable but credit card debt is never OK.
How Much Debt Is OK?
Your total monthly debt obligation shouldn't be more than 36 percent of your gross income. fizkes/Shutterstock
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These days, as my virtual mailbag fills with messages and pleas for help, I’m noticing a decided increase in those that are related to debt. I pulled out a couple to share with you today.

Dear Mary: Is it ever OK to have debt? How much debt can I afford?—Deanna
Mary Hunt
Mary Hunt
Author
Mary invites you to visit her at EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions and comments at https://www.everydaycheapskate.com/contact/, “Ask Mary.” This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of EverydayCheapskate.com, a frugal living blog, and the author of the book “Debt-Proof Living.” COPYRIGHT 2022 CREATORS.COM
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