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what are the three methods for setting your own debt limits

what are the three methods for setting your own debt limits

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Answer #1

Three methods for setting on debt limit would be-

1.fixation of a certain percentage of overall income which is monthly generated for providing with the debt payments and it should not be flexible in nature because it can lead to disaster, if not managed properly.

2. Balanced budget amendment approach must be followed in order to match the proposed amendment with proposed expenses in order to not have much stress on the overall income.

3. Building upon the emergency funding should also be proposed because it would help in taking excessive caution against any kind of unfavourable debt payments.

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