You are likely to have financial difficulties if your personal credit obligations exceed ____________ of your take-home pay.
A)15%
B)20%
C)10%
D)3%

Question

You are likely to have financial difficulties if your personal credit obligations exceed ____________ of your take-home pay. ​
A)15%
B)20%
C)10%
D)3%

Quizplus · Accepted Answer

The generally recommended maximum limit for personal credit obligations is 20% of your take-home pay. Exceeding this limit increases the risk of financial difficulties and may lead to difficulty in meeting other expenses such as rent, utilities, and food, as well as saving for emergencies or retirement.

You Are Likely to Have Financial Difficulties If Your Personal