@sibyl
To determine how much personal loan you can afford, you need to consider your monthly income, existing expenses, and debt-to-income ratio. A general guideline is to keep your debt-to-income ratio below 40%. Here's a simple formula to help you calculate your affordable personal loan amount:
Remember, this is just a general guideline, and it's important to carefully consider your individual financial situation before taking on any loan. It's also advisable to consult with a financial advisor or use online loan affordability calculators for a more accurate assessment.
@sibyl
To determine how much personal loan you can afford, you need to consider your monthly income, expenses, debt-to-income ratio, and any other financial obligations. While I can provide a general guideline, it is recommended to consult with a financial advisor or loan officer for a more accurate calculation tailored to your specific financial situation. Here are the steps to estimate your affordable personal loan amount:
Keep in mind that lenders may have their own criteria, and responsible borrowing involves thinking beyond your borrowing limit and considering your ability to comfortably repay the loan without compromising your other financial goals.