Debt isn’t automatically bad. For many people, tool ito para ma-achieve ang goals nila gaya ng new home, car, o bagong business. Pero nagiging “bad” o mabigat ang utang ‘pag naipon na ‘to at mahirap nang magbayad on-time and in full.
That’s why it’s important to be a responsible borrower and understand kung pasok ba talaga ang monthly payments mo sa iyong current budget at financial situation. Iwas din ito sa stress na karaniwang naa-associate sa bad debt.
So ano ba ang dapat gawin para maging responsible borrower? It starts with planning ahead, understanding your limits, and building healthy financial habits.
Your Debt Burden Ratio or DBR is your total monthly loan payments or current debts divided by your gross monthly income. Isa ito sa tinitignan ng mga bank o financial institutions ‘pag nagre-review ng loan application. ‘Pag mas mababa ang DBR, ibig sabihin ay mas may capacity ka na magbayad ng additional loan.
Here’s a sample computation. In this scenario, si Borrower ay may ongoing car loan, and they’re considering getting a home loan. Iche-check muna nila ang DBR nila with their preferred loan term.
Sabi ng ibang experts, ideal na 35% and below ang DBR. 33% ang DBR dito sa sample computation, which suggests that they may pay for a home loan comfortably with their current monthly income.
Knowing your DBR can give you a realistic view of your financial capacity. Pwede mo itong i-check para malaman kung financially ready ka for a new loan or a big purchase.
Debt only becomes stressful over time kung ‘di na ito nama-manage at tuloy-tuloy lang ang bad money habits, like:
To be a responsible borrower, kailangan ng discipline at consistency through the entire loan term. This includes habits like:
Managing expenses and staying within budget
Paying in full and on-time every month
Maximizing perks, rewards, and cashback offers
Setting aside money for savings and investments
Maintaining a low DBR