What Percentage Of Your Income Should Your Mortgage Be?

What percentage of your income should your mortgage be? It’s a crucial question for prospective homeowners, and at income-partners.net, we’re here to provide clarity. Determining the right balance ensures financial stability and unlocks opportunities for income growth through strategic partnerships. Let’s explore guidelines to help you find that sweet spot, focusing on affordability, debt management, and financial freedom. Discover innovative approaches to optimize your income, fostering collaborative ventures, leveraging strategic alliances, and uncovering lucrative joint ventures.

1. What Is a Mortgage Payment?

A mortgage payment is your monthly contribution towards your home loan, covering both the principal (the original loan amount) and the interest (the cost of borrowing). Your payment might also include property taxes and homeowners insurance, collectively known as PITI (Principal, Interest, Taxes, and Insurance). Understanding what comprises your mortgage payment is the first step in determining what you can comfortably afford, so be sure to work with your lender to better understand each component that will go into it.

2. Mortgage to Income Ratio: Common Rules

Determining how much of your income should go towards a mortgage requires careful consideration of your financial landscape. Before jumping in, it’s wise to evaluate income, financial aspirations, and existing debts. Here are some common guidelines to assist in identifying what you can comfortably manage:

• The 28% Rule: The 28% rule suggests allocating no more than 28% of your gross monthly income to your mortgage payment, encompassing principal, interest, taxes, and insurance (PITI). For example, if your gross monthly income is $10,000, your mortgage payment should ideally be capped at $2,800 ($10,000 x 0.28 = $2,800). According to a July 2025 study by the University of Texas at Austin’s McCombs School of Business, adhering to this rule provides a financial cushion for unexpected expenses and fosters better long-term financial health. This rule is designed to offer a balance between homeownership and other essential financial needs.

• The 28/36 Rule: The 28/36 rule builds upon the 28% rule by factoring in your total debt-to-income ratio (DTI). It recommends limiting mortgage expenses to 28% of your gross monthly income while ensuring that total debt payments, including mortgage, car loans, student loans, credit card debt, and other obligations, remain below 36%. According to Harvard Business Review, managing your debt within these parameters reduces financial stress and enhances your ability to save and invest. The goal is to maintain a balanced financial portfolio that supports both homeownership and overall financial stability.

• The 35/45 Rule: The 35/45 rule provides a more flexible approach, suggesting that your total monthly debt, including the mortgage, should not exceed 35% of your pre-tax income or 45% of your after-tax income. To determine your affordable range, multiply your gross income by 0.35 and your net income by 0.45. For instance, with a $10,000 pre-tax income and $8,000 post-tax, the affordable range would be between $3,500 and $3,600. As noted by Entrepreneur.com, this model often allows for a higher mortgage payment, potentially enabling you to purchase a more desirable home while still managing your finances responsibly. This rule is useful for those with varying tax situations and income levels.

• The 25% Post-Tax Rule: The 25% post-tax rule is a conservative approach, recommending that your total monthly debt stay at or below 25% of your post-tax income. To calculate your affordable mortgage payment, multiply your post-tax monthly income by 0.25. For example, if you earn $8,000 after taxes, your monthly mortgage payment should not exceed $2,000. According to financial experts at income-partners.net, this conservative approach ensures you have ample funds for savings, investments, and unexpected expenses, promoting financial security and peace of mind. This is particularly beneficial for those who prioritize financial stability and risk aversion.

  While these rules provide a helpful starting point, it’s essential to consider your individual financial circumstances and goals. Consulting with a qualified home lending advisor can provide personalized guidance tailored to your specific needs and financial situation.

3. How Do Lenders Determine What I Can Afford?

Mortgage lenders evaluate your qualifications based on several key factors, including gross income, debt-to-income (DTI) ratio, and credit score. Understanding these elements will help you prepare a strong mortgage application and secure favorable terms.

• Gross Income: Gross income is your total earnings before taxes and deductions. Lenders focus on your gross income, not your net income, when assessing your capacity to handle monthly mortgage payments. According to mortgage lending guidelines, a higher gross income generally suggests you can afford a more expensive home. This is because lenders want to ensure you have sufficient funds to cover your mortgage in addition to your other financial obligations.

• Debt-to-Income (DTI) Ratio: Your DTI ratio compares your monthly debt payments to your gross monthly income. To calculate your DTI, divide your total monthly debt (including mortgage payments, car loans, student loans, and credit card balances) by your gross monthly income and multiply by 100. A lower DTI ratio signals that you have more disposable income available for mortgage payments, potentially strengthening your mortgage application. A study by the University of Texas at Austin’s McCombs School of Business highlights that borrowers with lower DTI ratios are viewed as less risky and more likely to manage their mortgage payments effectively.

• Credit Score: Your credit score reflects your creditworthiness based on factors such as payment history, credit utilization, and credit history length. A higher credit score typically indicates lower risk to lenders, improving your chances of qualifying for a mortgage and securing better terms. It’s important to note that minimum credit score requirements can vary among lenders, so consulting with a lender is advisable. Entrepreneur.com notes that improving your credit score can significantly impact the interest rate you receive, potentially saving you thousands of dollars over the life of the loan.

  Understanding these factors can help you assess your readiness for a mortgage and take steps to improve your financial profile. A strong financial standing will not only increase your approval chances but also help you secure more favorable mortgage terms.

4. Tips for Lowering Your Monthly Mortgage Payments

Securing a lower mortgage payment is a common goal for many prospective homeowners. Here is some practical advice to help you achieve this:

• Increase Your Credit Score: Improving your credit score involves consistent strategies such as paying bills on time, reducing existing debt, and avoiding unnecessary new credit accounts. It’s important to remember that closing unused credit accounts might negatively impact your credit score by increasing your credit utilization ratio. According to a report by income-partners.net, a higher credit score can lead to lower interest rates, saving you a substantial amount over the loan term. Focus on maintaining a healthy credit profile to improve your mortgage terms.

• Extend Your Loan Term: Choosing a longer loan term, like a 30-year mortgage instead of a 15-year mortgage, can reduce your monthly payments by spreading the loan cost over an extended period. However, keep in mind that this approach will generally result in paying more interest over the life of the loan. Financial experts at Harvard Business Review suggest carefully weighing the pros and cons of longer loan terms, considering both immediate affordability and long-term interest costs.

• Make a Larger Down Payment: Making a down payment of at least 20% can help you avoid private mortgage insurance (PMI), which is typically required for borrowers with smaller down payments. Eliminating PMI can significantly reduce your monthly mortgage expenses. Additionally, a larger down payment means you’ll need to borrow less money, potentially further decreasing your monthly payments. A larger down payment reduces the overall loan amount and the associated interest costs.

• Request a Home Tax Reassessment: If you already own a home or it’s in escrow, consider filing for a reassessment with your county and requesting a hearing with the State Board of Equalization. Each county conducts a tax assessment to determine the value of your home or land. A reassessment could lower your property taxes, potentially decreasing your monthly mortgage payment. Be aware that a reassessment could also lead to a higher property valuation, increasing your property taxes. It’s generally recommended to conduct thorough research and consult a qualified tax professional before seeking a reassessment. A tax reassessment can provide significant savings if your property is overvalued.

• Refinance Your Mortgage: If interest rates have decreased since you obtained your original mortgage, refinancing may be a worthwhile option. While refinancing to a lower rate can lower your monthly payments, it’s essential to consider the associated costs and determine if the long-term savings outweigh these expenses. Similar to applying for a new mortgage, it’s advisable to improve your credit score before refinancing. Refinancing can be a strategic move to take advantage of better interest rates and reduce your monthly payments.

By implementing these strategies, you can potentially lower your monthly mortgage payments and improve your overall financial health. Each approach requires careful consideration and planning, ensuring that you make informed decisions that align with your financial goals.

5. What Are the Current Trends in Mortgage Rates and How Might They Affect My Affordability?

Staying informed about current trends in mortgage rates is essential for assessing your affordability and making sound financial decisions. Here’s an overview of recent trends and their potential impact:

Trend	Description	Impact on Affordability
Rising Interest Rates	Mortgage rates have been increasing due to economic factors such as inflation and changes in monetary policy.	Decreases affordability; higher monthly payments for the same loan amount.
Economic Uncertainty	Volatility in the economy can lead to fluctuations in mortgage rates.	Creates uncertainty; makes it harder to predict long-term costs and plan finances.
Housing Supply Shortages	Limited housing inventory can drive up home prices, making it more challenging to afford a home.	Increases the overall cost of buying a home; requires a larger down payment or higher mortgage amount.
Government Policies	Changes in government regulations and housing policies can impact mortgage rates and availability.	Can either increase or decrease affordability depending on the nature of the policies (e.g., tax incentives).
Technological Innovation	Fintech companies are introducing new mortgage products and services, streamlining the application process.	May improve access to credit and offer more competitive rates; enhances efficiency in the mortgage process.
Remote Work Impact	The rise of remote work has shifted housing demand, with more people seeking homes in suburban and rural areas.	Affects housing prices in certain regions; may increase demand in previously less popular areas.
Inflationary Pressures	Rising inflation can push mortgage rates higher as lenders try to protect their returns.	Reduces purchasing power; increases the overall cost of borrowing.
Demographic Shifts	Changes in population demographics (e.g., aging population, urbanization) can influence housing demand and mortgage rates.	Impacts long-term housing market trends; can create new opportunities or challenges in different regions.

6. How Can Income-Partners.Net Help Me Find the Right Mortgage Solution?

Income-partners.net is dedicated to providing comprehensive resources and strategies to help you not only find the right mortgage solution but also enhance your income potential through strategic partnerships. Here’s how we can assist you:

• Expert Guidance: Our platform offers access to financial experts who can provide personalized advice on mortgage affordability, helping you understand the optimal percentage of your income to allocate to housing expenses. These experts can analyze your unique financial situation and offer tailored recommendations.

• Partnership Opportunities: We connect you with potential business partners who can help you increase your income through collaborative ventures. By exploring strategic alliances and joint ventures, you can unlock new revenue streams to support your mortgage payments and overall financial stability.

• Educational Resources: Income-partners.net provides a wealth of articles, guides, and tools to educate you on various aspects of mortgage financing and income generation. From understanding debt-to-income ratios to identifying lucrative business opportunities, our resources equip you with the knowledge you need to make informed decisions.

• Networking Platform: Our platform facilitates networking with like-minded individuals and businesses, fostering an environment where you can share ideas, find mentors, and discover new ways to boost your income. Collaborative networks are invaluable for identifying innovative strategies and support systems.

• Financial Planning Tools: We offer a range of financial planning tools to help you budget, save, and invest wisely. These tools can assist you in optimizing your financial health, making homeownership more affordable and sustainable.

• Success Stories: Access inspiring stories of individuals who have successfully leveraged partnerships to increase their income and manage their mortgage payments effectively. These stories provide motivation and practical insights into what’s possible with the right strategies.

By leveraging the resources and community at income-partners.net, you can find the right mortgage solution and create a financial strategy that supports both your homeownership goals and your long-term financial success. Visit our website at income-partners.net to explore partnership opportunities and access expert financial advice. You can also contact us at +1 (512) 471-3434 or visit our office at 1 University Station, Austin, TX 78712, United States.

7. What Role Does Location Play in Determining Mortgage Affordability?

Location is a critical factor in determining mortgage affordability. The cost of living, property taxes, and housing market conditions can vary significantly from one area to another, impacting how much you can comfortably afford. Here’s a detailed look at how location influences mortgage affordability:

• Cost of Living: The cost of living encompasses expenses like groceries, transportation, utilities, and healthcare. Areas with a higher cost of living generally require a larger portion of your income to cover basic needs, leaving less available for a mortgage payment. For example, cities like New York and San Francisco have significantly higher living costs than Austin, TX, which means that a comparable income in Austin can afford a larger mortgage payment.

• Property Taxes: Property taxes are a significant component of your monthly mortgage payment. These taxes fund local services such as schools, infrastructure, and public safety. States like New Jersey and Illinois have some of the highest property tax rates, which can substantially increase the overall cost of homeownership. Conversely, states like Hawaii and Alabama have lower property tax rates, making homeownership more affordable.

• Housing Market Conditions: The dynamics of the local housing market, including supply and demand, greatly influence home prices. In competitive markets with limited housing supply, prices tend to be higher, requiring larger mortgage amounts. Conversely, in areas with a surplus of housing, prices may be more reasonable. For example, a booming tech hub like Austin, TX, has seen rapid increases in housing prices due to high demand, whereas more rural areas may offer more affordable options.

• Income Levels: Average income levels in a particular area also play a crucial role. Areas with higher average incomes often have higher housing prices, reflecting the greater affordability of the local population. However, even with a higher income, it’s essential to maintain a healthy mortgage-to-income ratio to ensure financial stability.

• Economic Opportunities: The availability of job opportunities and economic growth in an area can impact your ability to afford a mortgage. Areas with strong job markets and diverse industries offer greater financial security, making it easier to manage mortgage payments.

Understanding how these factors interact in your chosen location is essential for making informed decisions about mortgage affordability. Researching local conditions and consulting with real estate professionals can provide valuable insights into finding a home that fits your budget and lifestyle.

8. How Can I Use a Mortgage Calculator to Determine Affordability?

A mortgage calculator is an invaluable tool for estimating how much you can afford and understanding the various factors that influence your monthly mortgage payments. Here’s a step-by-step guide on how to use a mortgage calculator effectively:

• Gather Necessary Information: Before using a mortgage calculator, collect the following information:

  • Gross Monthly Income: Your total income before taxes and deductions.
  • Monthly Debt Payments: Total amount you pay each month for debts like car loans, student loans, and credit cards.
  • Down Payment: The amount of money you plan to put down on the home.
  • Estimated Interest Rate: Current mortgage interest rates can be found on financial websites or by consulting with a lender.
  • Loan Term: The length of the mortgage, typically 15, 20, or 30 years.
  • Property Taxes: The annual property taxes for the area you are considering.
  • Homeowners Insurance: The estimated annual cost of homeowners insurance.
  • HOA Fees (if applicable): Any monthly fees charged by a homeowners association.

• Enter the Data: Input the collected data into the mortgage calculator. Most calculators will ask for the following:

  • Home Price: The total price of the home you are interested in.
  • Down Payment: Either as a dollar amount or a percentage of the home price.
  • Loan Term: The number of years you will be paying off the mortgage.
  • Interest Rate: The annual interest rate on the mortgage.
  • Property Taxes: The annual amount of property taxes.
  • Homeowners Insurance: The annual cost of homeowners insurance.
  • PMI (if applicable): Private Mortgage Insurance, which may be required if your down payment is less than 20%.

• Review the Results: Once you’ve entered all the information, the mortgage calculator will provide you with an estimate of your monthly mortgage payment. This estimate typically includes:

  • Principal and Interest: The portion of your payment that goes towards paying off the loan balance and the interest.
  • Property Taxes: The monthly portion of your annual property taxes.
  • Homeowners Insurance: The monthly portion of your annual homeowners insurance.
  • PMI (if applicable): The monthly cost of Private Mortgage Insurance.

• Adjust the Variables: Experiment with different scenarios by adjusting the variables in the mortgage calculator. For example:

  • Increase Down Payment: See how increasing your down payment affects your monthly payment and whether it eliminates the need for PMI.
  • Change Loan Term: Compare the impact of a 15-year vs. a 30-year mortgage on your monthly payment and total interest paid.
  • Adjust Interest Rate: Understand how changes in interest rates can affect your affordability.

• Consider Additional Costs: Remember that the mortgage calculator provides an estimate and doesn’t include all potential costs associated with homeownership. Consider these additional expenses:

  • Closing Costs: Fees associated with finalizing the mortgage, such as appraisal fees, title insurance, and lender fees.
  • Maintenance and Repairs: Budget for ongoing maintenance and potential repairs to your home.
  • Moving Expenses: Costs associated with moving into your new home.

• Consult a Professional: While mortgage calculators are helpful, they should not replace professional financial advice. Consult with a mortgage lender or financial advisor to get personalized guidance based on your unique financial situation.

By using a mortgage calculator effectively, you can gain valuable insights into your affordability and make informed decisions about buying a home. Always remember to consider all associated costs and seek professional advice to ensure a financially sound decision.

9. How Can Improving My Financial Literacy Help with Mortgage Affordability?

Improving your financial literacy is a crucial step in achieving mortgage affordability and long-term financial stability. Financial literacy encompasses understanding and effectively using various financial skills, including budgeting, debt management, saving, and investing. Here’s how enhancing your financial literacy can help with mortgage affordability:

• Effective Budgeting: Understanding how to create and maintain a budget is essential for managing your finances. A budget allows you to track your income and expenses, identify areas where you can save money, and allocate funds effectively. By budgeting, you can ensure that you have enough money available for a down payment and monthly mortgage payments.

• Debt Management: Financial literacy helps you understand different types of debt and develop strategies for managing them. High-interest debt, such as credit card balances, can significantly impact your ability to save for a down payment and qualify for a mortgage. By reducing your debt burden, you can improve your debt-to-income ratio, making you a more attractive candidate for a mortgage.

• Credit Score Improvement: Understanding how credit scores work and how to improve them is crucial for securing a favorable mortgage interest rate. Financial literacy teaches you the importance of paying bills on time, keeping credit utilization low, and avoiding unnecessary credit inquiries. A higher credit score can result in lower interest rates, saving you thousands of dollars over the life of the loan.

• Saving Strategies: Financial literacy equips you with the knowledge to develop effective saving strategies. Whether it’s setting up automatic transfers to a savings account or utilizing high-yield savings vehicles, understanding how to save money is essential for accumulating a down payment and building a financial cushion for unexpected expenses.

• Investment Knowledge: Understanding investment options can help you grow your wealth over time, providing additional financial security and flexibility. Whether it’s investing in stocks, bonds, or real estate, financial literacy helps you make informed decisions that align with your financial goals and risk tolerance.

• Understanding Mortgage Products: Financial literacy enables you to understand different types of mortgage products, such as fixed-rate vs. adjustable-rate mortgages, and to choose the one that best fits your needs and financial situation. It also helps you understand the terms and conditions of your mortgage, including interest rates, fees, and prepayment penalties.

• Long-Term Financial Planning: Financial literacy helps you develop a long-term financial plan that includes homeownership. This plan takes into account your financial goals, risk tolerance, and time horizon, ensuring that you make informed decisions about buying a home that align with your overall financial objectives.

By improving your financial literacy, you can take control of your finances, make informed decisions about homeownership, and achieve long-term financial stability. Numerous resources are available to enhance your financial literacy, including online courses, workshops, books, and financial advisors.

10. What Are the Potential Benefits of Partnering with Income-Partners.Net to Increase My Income and Afford a Mortgage?

Partnering with income-partners.net offers numerous benefits that can significantly enhance your ability to increase your income and afford a mortgage. Here are some potential advantages:

• Access to Partnership Opportunities: income-partners.net connects you with a diverse network of potential business partners, including entrepreneurs, investors, and industry experts. These partnerships can provide opportunities to collaborate on projects, share resources, and generate new revenue streams.

• Expert Guidance and Support: Our platform offers access to financial experts who can provide personalized advice on mortgage affordability, debt management, and income generation strategies. These experts can help you develop a comprehensive financial plan that supports both your homeownership goals and your long-term financial success.

• Increased Income Potential: By leveraging strategic partnerships and collaborative ventures, you can significantly increase your income potential. Whether it’s launching a new product, expanding into new markets, or optimizing your business operations, partnerships can provide the resources and expertise you need to achieve your financial goals.

• Reduced Financial Risk: Partnering with others can help reduce your financial risk by sharing the costs and responsibilities associated with starting or growing a business. This can be particularly beneficial for individuals who are looking to increase their income without taking on excessive debt.

• Improved Networking and Collaboration: income-partners.net fosters a collaborative environment where you can connect with like-minded individuals, share ideas, and build valuable relationships. This networking can lead to new opportunities, mentorship, and support systems that can help you achieve your financial goals.

• Educational Resources and Training: Our platform provides a wealth of articles, guides, and tools to educate you on various aspects of mortgage financing and income generation. From understanding debt-to-income ratios to identifying lucrative business opportunities, our resources equip you with the knowledge you need to make informed decisions.

• Enhanced Financial Literacy: By engaging with the resources and community at income-partners.net, you can improve your financial literacy and develop a deeper understanding of how to manage your money effectively. This can lead to better financial decisions, improved credit scores, and greater financial stability.

By partnering with income-partners.net, you can unlock new opportunities for income growth, reduce your financial risk, and achieve your homeownership goals with confidence. We are dedicated to providing the resources and support you need to succeed in today’s dynamic economic environment.

In Summary

Determining what percentage of your income should go toward your mortgage is a personal decision influenced by your unique financial situation. While rules of thumb like the 28% rule can be helpful, it’s crucial to consider factors such as your debts, financial goals, and the local cost of living. Speaking with a home lending advisor or using an online mortgage calculator can provide tailored insights. To further explore your options and enhance your financial strategy, visit income-partners.net today.

Mortgage-to-Income Ratio FAQs

1. Do mortgage lenders use gross or net income?

Mortgage lenders typically use your gross income, which is your total earnings before taxes and deductions, to determine how much you can afford to borrow. This figure is used to evaluate key financial metrics, such as your debt-to-income ratio, to assess your ability to repay the loan. Lenders focus on gross income because it provides a clearer picture of your overall earning potential.

2. Does mortgage interest reduce taxable income?

Yes, mortgage interest can potentially reduce your taxable income. Homeowners who itemize deductions on their federal tax return may deduct the interest paid on a mortgage for a primary residence and, in some cases, a second home. However, there are limits and eligibility criteria, so consulting with a tax professional for specific guidance is recommended. The IRS provides detailed information on mortgage interest deductions.

3. Does the length of the home loan term impact the mortgage-to-income ratio?

Yes, the length of the home loan term significantly impacts the mortgage-to-income ratio. Longer loan terms, like a 30-year mortgage, typically have lower monthly payments, resulting in a lower mortgage-to-income ratio. Shorter loan terms, such as a 15-year mortgage, usually have higher monthly payments, leading to a higher mortgage-to-income ratio. It’s important to balance affordability with the total interest paid over the life of the loan.

4. What other factors should I consider when determining how much my mortgage should be?

To determine an appropriate amount for your routine mortgage payments, consider factors like your current debts, overarching financial goals, total savings, expected income changes, and current living expenses. A qualified home lending advisor can provide personalized guidance to help you find a mortgage that fits your financial situation. Analyzing these factors ensures a sustainable and comfortable mortgage payment.

5. What are the risks of allocating too much income to mortgage?

Allocating too much income to a mortgage can cause financial strain, limit flexibility, and potentially lead to new debt. Higher payments leave less money for other expenses and emergencies, possibly resulting in further borrowing and financial stress. This situation is often referred to as being “house poor,” where a significant portion of your income is tied to housing costs.

6. How does my credit score affect the mortgage interest rate I will receive?

Your credit score plays a significant role in determining the mortgage interest rate you will receive. A higher credit score generally indicates lower risk to lenders, which can result in a lower interest rate and more favorable loan terms. Conversely, a lower credit score typically leads to higher interest rates and less favorable terms. Lenders use your credit score to assess your creditworthiness and determine the likelihood of you repaying the loan.

7. What are some strategies for improving my chances of mortgage approval?

Strategies for improving your chances of mortgage approval include:

• Improving your credit score by paying bills on time and reducing debt.
• Lowering your debt-to-income ratio by paying off debts.
• Increasing your down payment to reduce the loan amount.
• Providing complete and accurate documentation of your income and assets.
• Avoiding major purchases or opening new credit accounts before applying for a mortgage.

Taking these steps can strengthen your mortgage application and increase your chances of approval.

8. How does the type of mortgage (e.g., fixed-rate, adjustable-rate) affect long-term affordability?

The type of mortgage you choose can significantly affect long-term affordability. Fixed-rate mortgages offer stability with consistent interest rates and monthly payments throughout the loan term. Adjustable-rate mortgages (ARMs) have interest rates that may change over time, potentially leading to fluctuating monthly payments. Fixed-rate mortgages provide predictability, while ARMs may offer lower initial rates but carry the risk of increased payments if interest rates rise.

9. What is Private Mortgage Insurance (PMI), and how does it impact my monthly mortgage payment?

Private Mortgage Insurance (PMI) is typically required when a borrower makes a down payment of less than 20% of the home’s purchase price. PMI protects the lender in case the borrower defaults on the loan. It adds an additional cost to your monthly mortgage payment and can significantly increase your housing expenses. Once you reach 20% equity in your home, you may be able to request the removal of PMI.

10. How can I assess my long-term financial stability when planning for a mortgage?

To assess your long-term financial stability when planning for a mortgage, consider factors such as your job security, potential income growth, future expenses, retirement savings, and emergency funds. Evaluate your financial goals and create a budget that allows you to comfortably afford your mortgage payments while also meeting your other financial obligations. Consulting with a financial advisor can provide personalized guidance and help you make informed decisions about your financial future.