Michelle's annual take-home pay is $29,000. What is the maximum amount that she can spend per month paying off credit cards and loans and not be in danger of credit overload?


3 Answers

S L jamen Profile
S L jamen answered

Add up the constant  bills, like rent, food, gas, entertainment, etc.  Then decide how much to pay on credit cards with what is left over.

Tom  Jackson Profile
Tom Jackson answered

I assume you have some kind of breakdown of how much of her take home pay should be allotted to the various common categories of monthly or annual expenses.

Just multiply $29000 by those percents. 

Karl Sagan Profile
Karl Sagan answered

The whole thing with loans is so complicated. Even though I tried to figure it out, it still seems to be quite tough. But it doesn't really matter for me as far as I prefer to stay away from loans. I mean, I can take a quick loan online from time to time in a critical situation but nothing more than that.

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