Staying in the Black
Stay in the Black is dedicated helping teachers get their money straight and live their fullest life on a public servant salary Are you a teacher living check to check? Are you worried about your student loans? Can you afford to purchase a home? Can you afford to have children or send them to college? In this podcast we will cover pensions, student loans, side hustles and ways to maximize and expand your finances. We will also cover budgets, saving, credit and more! You will find information, interviews, book reviews and you will leave with action steps to help you Stay in the Black, for more go to stayingintheblk.com
Staying in the Black
20/10 Rule
•
Ms. Black
If your net monthly pay is $5000, here is how you would find your 20/10 numbers:
Multiply your net monthly pay by 10%
$5,000 per month x 0.10= $500
Then your annual pay by 20%
($5,000 per month x 12 months) x 0.20= $12,000
Therefore, your overall consumer debt should not exceed 12,000
and your monthly debt repayment should exceed $500