Bright Money

Is your Debt to Income ratio more than 45%? If yes, your credit score might be in trouble.

Don't worry, Bright Money is here to help you manage your debt. Just follow @brightmoney.co and leave the rest to us.

What is Debt-to-income ratio or DTI?
It measures your ability to repay your debts. It is calculated by dividing your monthly debt payments by your gross income.

Ideal DTI=36%
Preferred DTI=18% or lower
High-risk DTI= 45% or over
Keeping your DTI low is important as it opens access to more credit and lower interest rates.

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1 year ago | [YT] | 0

Bright Money

Tired of looking for a free credit report? Bright money got you.

Here are 4 platforms that provide you with free reports every 12 months:
1. Equifax - www.equifax.com/personal/credit-report-services/fr…

2. Experian - www.experian.com/consumer-products/free-credit-rep…

3. TransUnion - www.cibil.com/consumer

4. Federal Trade Commission - consumer.ftc.gov/articles/free-credit-reports

Follow @brightmoney.co for daily your financial dose.

#creditreport #creditcard #finance101 #finances #january #financeadvice #2024january #creditreports #creditgoals #manifestingmoney #financialfreedom

1 year ago | [YT] | 0

Bright Money

"Beware of little expenses; a small leak will sink a great ship" - Benjamin Franklin.
Small purchases can sneak up and sink your budget, but don't let little leaks turn into financial floods.

Bright Money's here to help. ‍Our app makes managing debt simple.

1️⃣ Download the app (link in bio) and take control of your finances!
2️⃣ Follow @brightmoney.co for daily money tips!

#benjaminfranklin #expenses #spendinghabit #january #2024goals #finances #finance101 #financequotes #financeadvice #debtfreegoals #debtfreelife #financetips #benjaminfranklinquotes #finance #financialplanning #financialgoals #personalfinance #spending #debtfree #Bright #debtfreecommunity #debtfreeliving #debtfreejourney #brightmoneyapp #debtfreeliving

1 year ago | [YT] | 1

Bright Money

Insurance is not an essential part of Financial Planning!

1 year ago | [YT] | 0

Bright Money

IRA (Individual Retirement Account) is a

1 year ago | [YT] | 0

Bright Money

What Credit Score can get you a Small Business Loan?

1 year ago | [YT] | 0