Money & Finance: Tightwad Tip

A thrifty reader passes along moneywise words

March 1, 1996

Instead of tossing all the flyers and junk mail he gets, Robert E. Lambert, assistant manager and broker associate with Coldwell Banker--Van Schaack & Co., Aurora, Colo., uses the blank side for notes, phone messages, and first drafts of letters.

It's good for the environment and the company's budget.

How Much Debt Is Too Much?

You have too much debt when you

  • Pay more than 10 percent of your after-tax income for debts and loans, not including mortgage
  • Make mortgage payments that are more than 30 percent of your gross income
  • Pay the minimum due, or less, on monthly bills
  • Don't know how much you owe
  • Get repeated notices from creditors threatening or actually initiating legal action
  • Have credit denied

Source: Feathering Your Nest: The Retirement Planner by Lisa Berger, published by Workman Publishing, New York

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