Borrowing Money Wisely
The best way to avoid getting into trouble with debt is borrowing money wisely from the get-go.
It is important to understand the formula to borrowing money. Did you know there is a formula to comfortable debt? It's important to understand that formula before you borrow money.
Financial institutions will often approve borrowing at 42% total debt servicing. Total debt servicing is calculated as a percentage of your pre-tax income versus your monthly debt obligations.