Question

Question

Debt payment should be limited to what percent of your income?
Responses

15 percent
15 percent

35 percent
35 percent

10 percent
10 percent

20 percent

Answer 1

The general recommendation is that debt payments should ideally be limited to around 15% of your income. However, some financial experts suggest aiming for a lower percentage, such as 10% to 20%, depending on individual financial circumstances. In terms of the options presented, 15 percent is a commonly cited guideline for debt repayment as a percentage of income.