How is my debt to income ratio calculated in the Boshhh Money App?

We divide your total monthly debt repayments by your monthly income and multiply by 100 to get a percentage.

What debts are included in my debt to income ratio?

We include loans, credit card bills, car finance payments, mortgage or rent, overdrafts, council tax arrears, and child support.

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Debt-to-income ratio (DTI)

Q: What is a debt-to-income ratio?

Your debt to income ratio compares your monthly debt payments to your income. It helps lenders assess if you can handle more lines of credit.

Q: What is a good debt-to-income ratio?

A debt to income ratio below 35% is generally seen as healthy. The lower the ratio, the more comfortable your financial position.

Q: How can I lower my debt-to-income ratio?

You can lower it by paying off existing debts or increasing your income to improve your affordability and borrowing power.

Your DTI ratio shows how much of your income goes towards repaying debts. It's a key part of your financial health.

What's included in your DTI calculation

Loans

Personal, auto, and other loan payments

Loans

Personal, auto, and other loan payments

Loans

Personal, auto, and other loan payments

Loans

Personal, auto, and other loan payments

Credit cards

Minimum monthly payments

Credit cards

Minimum monthly payments

Credit cards

Minimum monthly payments

Credit cards

Minimum monthly payments

Car finance

Monthly car payments

Car finance

Monthly car payments

Car finance

Monthly car payments

Car finance

Monthly car payments

Mortgage or rent

Student loans

Monthly student loan payments

Student loans

Monthly student loan payments

Student loans

Monthly student loan payments

Student loans

Monthly student loan payments

Child support

Support or maintenance payments

Child support

Support or maintenance payments

Child support

Support or maintenance payments

Child support

Support or maintenance payments

Overdraft charges

Regular overdraft fees

Overdraft charges

Regular overdraft fees

Overdraft charges

Regular overdraft fees

Overdraft charges

Regular overdraft fees

What's included in your DTI calculation

Formula:

(Total Monthly Debt Payments ÷ Monthly Income) × 100 = DTI %

Low DTI

Under 30%

Good financial health

Medium DTI

30-50%

Some financial strain

High DTI

Over 50%

Financial stress

Why your debt-to-income ratio matters

Lenders use your DTI to see whether you can handle more borrowing. A lower ratio means you're less financially stretched.

Your DTI is one of the most important numbers in your financial life. It helps lenders understand if you have enough income to comfortably cover your existing debts plus any new loan payments.

Improving your DTI by paying down debt or increasing your income can significantly boost your overall affordability score.

Lenders use your DTI to see whether you can handle more borrowing. A lower ratio means you're less financially stretched.

Your DTI is one of the most important numbers in your financial life. It helps lenders understand if you have enough income to comfortably cover your existing debts plus any new loan payments.

Improving your DTI by paying down debt or increasing your income can significantly boost your overall affordability score.