Have you heard of the 28/36 rule?
This is a guideline used in personal finance to determine how much of your income should go toward housing and debt expenses.
Here’s how it works:
28% for Housing Costs
No more than 28% of your gross monthly income should be spent on housing costs, typically mortgage payments, property taxes, homeowner’s insurance, etc.
36% for Total Debt
No more than 36% of your gross monthly income should go toward your total debt payments, which include housing costs (as mentioned above) plus other debts such as car loans, student loans, credit card payments, and other debt obligations. Adhering to the 28/36 rule can help ensure that you’re not overextending yourself financially and maintaining a healthy balance between income and expenses.
This rule is especially useful when planning a budget or applying for a mortgage. To learn more get in touch, I’d love to meet with you! 
