Lessons:
About Money
101
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How deep is your debt?
This worksheet, adapted from The Money Book of Personal Finance, shows how much of your take-home pay goes to service debts -- and whether that amount is more than you can handle. Mortgage debt is not included because it is backed by an appreciating asset that eventually adds to your net worth. Monthly debt payments, including your mortgage, should not exceed 40% of pretax income.
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