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Financial Planner

Category - General Principles of Financial Planning

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Individual consumer debt should not exceed what amount:

Explanation

Answer: C - Individual consumer debt should not exceed 20%. Consumer debt includes credit cards, auto loans, and the like. This should not be confused with or include mortgages which should not be more than 28% of monthly income. However, total monthly payout of all debt should not be more than 38% of monthly income.

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