Latest news with #DTI
GMA Network
2 days ago
- Business
- GMA Network
DTI releases price guide for school supplies ahead of S.Y. 2025
The Department of Trade and Industry (DTI) on Friday released the price guide for school supplies in time for the upcoming school year opening in June. The department said prices of some items have been reduced to provide affordable options for parents and students. 'This 2025 price guide covers 195 stock keeping units (SKUs) across 12 product categories. Notably, 29 items have seen decreased prices compared to the previous year, with reductions ranging from PHP 1.00 to PHP 10.00,' the DTI said in a statement. The prices for four SKUs of notebook were cut between P5.00 to P10.00; for 24 SKUs of pad paper, prices have been slashed between P1.00 to P6.00; and a piece of pencil is now cheaper by P5.00. Hence, notebooks are priced from P15.00 to P52.00, pad paper ranges from P15.00 to P48.75, and pencils cost P11.00 to P24.00. Meanwhile, the price of SKUs for ballpens, erasers, and sharpeners remain unchanged. Pens are available from P3.00 to P33.00, sharpeners are priced at P15.00 to P69.00, and erasers remain priced at P4.50 to P20.00. Other school supplies like crayons, in various box sizes, range between P12.00 to P114.00. Rulers can be bought at P16.00 to P39.00. The DTI reminds the public to be careful when purchasing school supplies. Consumers must check the product labels, the number of leaves in notebooks and pad papers, among others. 'Every peso counts for Filipino families, especially during back-to-school season. This price guide is a promise that under this administration, no learner is left behind. We want every child, regardless of background, to step into the classroom with pride and readiness, and every parent to feel that the government is walking alongside them,' said Secretary Cristina Roque. — BAP, GMA Integrated News
Miami Herald
3 days ago
- Business
- Miami Herald
What is debt-to-income ratio and how does it affect you?
You don't need a finance degree to have money smarts. Understanding a few simple terms can help you lead your best financial life. One of those terms is DTI, or debt-to-income ratio. It's an important concept because lenders use DTI to determine whether you can afford the loan you want. Achieve says understanding your DTI can give you an important edge when you're looking for a home equity loan or another kind of loan. Definition of DTI (debt-to-income ratio) DTI, or debt-to-income ratio, is the percentage of income you spend on your debts and housing each month. DTI doesn't consider the total amount of debt you have. Just how much you have to pay each month. How to calculate DTI To calculate DTI, add up your housing payment and the minimum payments on all your debts. Divide the total by your total income. If your income is $5,000 per month, and your debt and housing payments total $2,500 per month, divide $2,500 by $5,000. 2,500 ÷ 5,000 = 0.5 (50%) There are a few rules: The income you'll use is your total before-tax income, not your take-home pay. To be counted, income must be ongoing and include every bill. General living expenses like food, income taxes, utilities, fuel, and childcare don't count toward your include the minimum payments on your credit include extra-but optional-payments you make toward your include housing costs. If you rent, it's your rent. If you own, it's your mortgage payment, including principal, interest, taxes, insurance, and HOA include the required monthly payments on your loans. Include car loans, personal loans, student loans, and other debts you're paying off. If you are legally obligated to pay child support or spousal support, include those as well (but the lender might not consider these payments if they're due to end soon). DTI and your credit score DTI doesn't affect your credit score, and your credit score doesn't influence your DTI. Your credit score is based on: Your payment historyAmounts owedAccount ageCredit mixHard inquiries (the kind that happen when you apply for credit) That said, both DTI and credit score are measures of financial health, and they often go hand in hand. For example, if your credit card balances are high and you can only afford to make minimum payments, chances are good that your credit score has taken a hit and you have a high DTI. On the flip side, if you have a low DTI, that could mean that you are living below your means and avoiding excessive debt. It would be great if these qualities were rewarded with high credit scores, but they aren't. To have good credit, you need to have and use credit accounts. If you avoid debt, you might not even have a credit score, even with a great DTI. Here are a few examples of DTI calculations. DTI with a personal loan Dan and Lucy earn $8,000 per month between them. Their rent is $2,000. The minimum payments on their credit cards total $300 per month, and they have a $300 monthly car payment. They need $10,000 to cover medical expenses, so they're applying for a personal loan together. The loan will have a $200 monthly payment. Here's how the lender calculates their DTI: Most lenders will approve a loan at a 35% DTI, assuming the applicants meet their other requirements. DTI with a home equity loan Luke earns $78,000 a year ($6,500 per month) and owns his home. His mortgage payment includes $1,100 for principal and interest, plus $140 for property taxes and $60 for homeowner's insurance (total payment: $1,300). He also has a $300 car payment. Luke wants a $100,000 20-year home equity loan for some renovations. He qualifies for an 11.5% APR. The monthly payment will be $1,078. This home equity loan example is for informational purposes only. The payment is calculated using the Actual 360 interest calculation method. Interest rate and payments are for illustration only. Individual results vary. Here's Luke's DTI: Most home equity lenders will consider Luke's DTI to be within the acceptable range to qualify for a new loan. DTI for a debt consolidation loan Chantal earns $5,000 per month, pays $1,500 in rent, and owes $25,000 in credit card debt. Her credit card APRs range from 24.99% to 28.99%. Her total monthly credit card payments are $812. Beforeborrowing, Chantal's DTI is: For many people, a 46% DTI is too high to live comfortably. Spending that much of your income on housing and debt leaves little for taxes, utilities, food, healthcare, household expenses, savings, or fun. But what if Chantal gets a $25,000 personal loan to consolidate her credit card debt? If she qualifies for a 17% interest rate and opts for a five-year term, her payment drops to $621. After she uses a loan to consolidate her credit card debt, Chantal's credit card balances are zeroed out and the $812 in credit card payments goes away. The new loan payment is $621. Chantal's expenses total $2,121 and her DTI drops to 42%. Now she has nearly $200 worth of additional breathing room in her budget every month. This DTI gives her a little more flexibility to cover life's other expenses. Why is DTI important? DTI isn't just important to lenders. It matters even more to you. Your DTI is a snapshot of how doable your lifestyle is at any given time. What is a low DTI? Most lenders consider 36% or lower to be very healthy, and of course, lower is always better. When you apply for a loan, lenders love a low DTI because it shows that there's money in your budget that could cover a new loan payment. That's why having a lower DTI could improve your chances for loan approval. In some situations, a low DTI could help you land a lower interest rate on the loan you want. A low DTI isn't just about loan applications, though. It's about managing your budget. Having a low DTI makes it easier to afford your current financial obligations, with money left over for household expenses, savings, unexpected costs, and some fun. What is a high DTI? Anything over 43% is considered high-ish. It's a limit established by many mainstream lenders. However, people get loans with a DTI over 43%, and even over 50%, every day. It depends on the overall strength of your finances and the type of loan you're after. A high DTI could make it harder to borrow when you need to. Or it could make it harder to borrow the amount you want. Mainly because to the lender, it looks like you might not be able to afford the payment. A higher DTI could also lead to more expensive loans. That's because a higher DTI represents a higher risk to the lender, so they might charge more to compensate for the risk. If you have a high DTI, the lender may ask for other evidence of financial stability before approving your loan. The world won't end if your DTI is on the high side, but it's something to watch, and something you'll probably want to work on. Even if you're not planning to apply for new credit any time soon, a high DTI means most of your money is already spoken for. That leaves you less to save, invest, and spend on the necessities of life. Bringing your DTI down means making more of your money available to spend or save the way you choose to. DTI and home loans Mortgage lenders, including home equity lenders, look closely at your DTI when you borrow. In the past, many lenders set 43% as a cut-off for mortgage approval. However, not every lender or loan program applies this limit today. In fact, some home equity loan lenders will consider your application even if your DTI is as high as 50%. Loan eligibility is typically based on multiple factors, including your credit score and the reason you want the loan. If your DTI is higher than 43%, the best thing to do is talk to a mortgage advisor who can help you learn about your options. DTI and personal loans The way personal loans work is ultimately up to each lender that offers them. Providers vary widely in what DTIs they're willing to accept. The typical maximum is 35% to 43%. DTI is just one part of your application. The lender will evaluate your income, your credit standing, the reason you need a loan, and other factors. Keep in mind that DTI isn't about how much money you make or how much debt you have. The focus is on how your monthly income and expenses relate to one another. For example, let's say Alex applies for a personal loan. Alex makes good money and isn't concerned about getting approved for the loan. Here is Alex's debt and income breakdown: A personal loan lender might decline to offer Alex a loan, because any new payment looks unaffordable. If Alex can afford it, a great way to lower DTI would be to pay down (or pay off) the credit card debt and eliminate that expense. Getting rid of the credit card expense would bring Alex's DTI down to under 38%. Tips for improving DTI and increasing loan eligibility There are several ways to improve your DTI. Generally, they fall into one of these three categories: Lower your monthly debt payment by consolidating or refinancing your debtsPay down your debtIncrease your income Debt consolidation:The way debt consolidation works is that you take one new loan and use it to pay off more than one smaller debt. This could lower your DTI if the consolidation loan has a lower payment than the loans it replaces. You could reduce what you pay each month if you get a loan with a lower interest rate and/or a longer repayment term. Debt consolidation doesn't get rid of any of your debts. It only moves your debt from one place to another. Debt refinancing: Refinancing a loan means replacing it with a new one. People do this when the new loan has a lower interest rate, lower payments, or some other benefit. If your new loan has a lower payment, this reduces your DTI. Increase your income: A great way to reduce DTI is to offset your debt expenses with more income. More income could ease financial stress, too. Consider picking up another job or exploring other ways to generate more income. Pay down debt: This is your long-haul plan. You can improve your DTI without taking on a new loan. Get a budget together and set some goals. To pay off your balances over time, you'll need to be mindful about spending. Once you've got your plan in place, make it stick. Check your balances and DTI every month. Do your best to stay on track and don't forget to celebrate your progress. At the end of the day, DTI is a measure of your financial comfort level. If your DTI is on the high side, consider the goals you could work toward if you had more money at your discretion each month. Setting your sights on specific priorities could help motivate you to work toward a lower DTI. Frequently asked questions What does a DTI do? DTI is a calculation. It's your monthly housing and debt payments divided by your monthly pre-tax income. DTI shows how much of your income you spend on housing and required payments. DTI also shows lenders if you can afford a new payment when you apply for a loan. What DTI ratio is good? A DTI under 36% is considered healthy and low. Most lenders allow DTIs up to 43% for most kinds of loans. Many mortgage loans allow a DTI above 50%, but it's not as common for unsecured loans. Is 50% DTI too high? A DTI above 50% is common, especially in areas where housing is expensive, but it's hard. Spending half of your pretax income on housing and debt service doesn't leave you a lot of wiggle room. The rest of your income has to cover income taxes, food, utilities, transportation, school costs, hobbies, household goods, clothing, and anything else. That said, some people manage at a 50% DTI by being ruthless with their budgets. Consider targeting a lower DTI over time to make your life more comfortable and secure. This story was produced by Achieve and reviewed and distributed by Stacker. © Stacker Media, LLC.
The Citizen
4 days ago
- The Citizen
Top 10 stories of the day: New lottery operator
Here's your daily news update for Wednesday, 28 May 2025: An easy-to-read selection of our top stories. News today includes the Department of Trade and Industry (DTI) have announced the appointment of a new lottery operator. Meanwhile, the Chief Executive Officer (CEO) of the Road Accident Fund (RAF), Collins Letsoalo, has been placed on special leave with full pay. Furthermore, the Hawks confirmed this afternoon that they are investigating Peet and Melany Viljoen for fraud after a judge ordered in April that a copy of his order be forwarded to the National Prosecuting Authority (NPA) for investigation and possible prosecution for not complying with the Companies Act. Weather tomorrow: 29 May 2025 Damaging winds and waves are expected between Saldanha Bay and Cape Agulhas in Western Cape, otherwise the day will usher in mostly fine and cool weather across the country. Full weather forecast here. Stay up to date with The Citizen – More News, Your Way. Big change to Lotto operations: Will tickets be on sale next week? The Department of Trade and Industry (DTI) have announced the appointment of a new lottery operator. Minister Parks Tau confirmed that he had received a report from the National Lotteries Commission (NLC) confirming an agreement with their preferred bidder. Picture: iStock The report on the concluded negotiations was received on Monday, but lottery players are still in the dark as to whether they can panda, pusha, playa next week. CONTINUE READING: Big change to Lotto operations: Will tickets be on sale next week? Six year old's family attempts to withdraw sexual assault case against Limpopo radio DJ The family of a six-year-old girl in Limpopo is attempting to withdraw a sexual assault case against a Limpopo radio DJ despite legal procedures preventing such action. A 34-year-old radio personality from Vhembe District was arrested on charges of sexually assaulting a minor who is also a relative. Minor sexual assault. Image used for illustration. Picture: iStock The DJ, who works at a radio station based in Thohoyandou, appeared before the Waterval Magistrate's Court on Tuesday for a bail application, where family members made their withdrawal request known to authorities. CONTINUE READING: Six year old's family attempts to withdraw sexual assault case against Limpopo radio DJ RAF CEO placed on special leave with full pay, as MPs grill fund The Chief Executive Officer (CEO) of the Road Accident Fund (RAF), Collins Letsoalo, has been placed on special leave with full pay. This was confirmed during a Standing Committee on Public Accounts meeting in parliament on Wednesday. According to RAF board member Lekau Nyama, this is due to precautionary measures. RAF CEO Collins Letsoalo. Picture: RAF/X He has been implicated in alleged financial mismanagement and corruption. CONTINUE READING: RAF CEO placed on special leave with full pay, as MPs grill fund 'I looked for Joshlin when I was mourning my own daughter,' community member tells court The conviction of Joshlin Smith's mother, Racquel 'Kelly' Smith, along with her co-accused, Jacquen 'Boeta' Appollis and Steveno van Rhyn, may never fill the void left by the disappearance of the little girl, as they continue to seek answers from her mother. The three returned to the Western Cape High Court in Saldanha on Wednesday, where victim impact statements were read out. Joshlin Smith. Picture: Supplied On 2 May, Judge Nathan Erasmus found the three guilty of kidnapping and human trafficking. CONTINUE READING: 'I looked for Joshlin when I was mourning my own daughter,' community member tells court Hawks investigating Peet and Melany Viljoen for fraud with Tammy Taylor franchises The Hawks confirmed this afternoon that they are investigating Peet and Melany Viljoen for fraud after a judge ordered in April that a copy of his order be forwarded to the National Prosecuting Authority (NPA) for investigation and possible prosecution for not complying with the Companies Act. Brigadier Thandi Mbambo, spokesperson for the Hawks, confirmed that the Hawks are investigating the matter after a case was opened at the Sandton police station. Peet and Melany Viljoen. Picture: Instagram/peetviljoen_ttn Judge Joseph Raulinga made the order after a prospective Tammy Taylor franchisee, Lebohang Hlathuka, sued Tammy Taylor Global Franchising as well as both the Real Housewives of Pretoria star and her husband to get back the R600 000 she paid for a Tammy Taylor franchise. CONTINUE READING: Hawks investigating Peet and Melany Viljoen for fraud with Tammy Taylor franchises Here are five more stories of the day: Yesterday's News recap READ HERE: RIP Presley Chweneyagae | Police hunt Olorato's suspected killer | Ramaphosa QA
Yahoo
6 days ago
- Business
- Yahoo
South Korean Lotteria set to expand into Philippines market
Lotteria, a South Korean fast-food chain, is planning to establish a presence in the Philippines market. The news was disclosed by the Philippine Department of Trade and Industry (DTI). Discussions took place on 16 May in Seoul between Trade Secretary Cristina Roque and representatives from Lotte GRS and other South Korean conglomerates, the Philippine Star reported citing the DTI. The talks focused on the conglomerates' investment and expansion strategies in the Philippines, with an emphasis on food service, franchising, and retail sectors. The companies are considering various investment avenues such as joint ventures, master franchise agreements, and operations tailored to the local market. Lotte GRS, the restaurant service division of Lotte Group, is specifically gearing up to introduce its brand, Lotteria, in the country. Over the next five year, the company aims to open a minimum of 30 stores. The newspaper quoted DTI as saying: 'This initiative has strong focus on local sourcing and workforce development. Additionally, other companies revealed plans to roll out modern convenience store models designed to meet the demands of consumers in the Philippines. A commitment was made to predominantly source products locally; more than 95% of items sold in their international outlets are procured from within the host nation. The dialogue also encompassed strategies for incorporating digital commerce solutions and enhancing last-mile delivery capabilities. Beyond food service and retail endeavours, South Korean entities are investigating prospects for restaurant growth and establishing import-export networks for Philippine agricultural and seafood commodities. A recent partnership has led to one company's announcement that it will open its inaugural outlet in Manila by August 2025. In August of the previous year, Aniai, a New York-based robotic kitchen startup, installed 15 hamburger grill robots across various burger chains in South Korea, including in Lotteria locations. "South Korean Lotteria set to expand into Philippines market" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
GMA Network
20-05-2025
- Business
- GMA Network
Don Quijote in PH? Still a ‘long-term consideration' —DTI
People cross a street in front of a Don Quijote store in Shibuya area in Tokyo on October 3, 2024. Yuichi Yamazaki/ AFP Pinoy fans of Don Quijote or 'Donki' will have to wait long before the popular Japanese discount shop chain is officially established in the Philippines. In a news release on Tuesday, the Department of Trade and Industry (DTI) said that Trade Secretary Cristina Roque held a 'strategic meeting' in Tokyo on Monday with executives of Pan Pacific International Holdings Corp. (PPIH), the Japanese retail house behind Don Quijote and Don Don Donki store chains. The DTI said the meeting centered on expanding the sourcing of Philippine products for inclusion in PPIH's global store network, particularly in Japan, the United States, and other Asian markets. It added that PPIH expressed 'strong interest' in increasing the visibility of Filipino-made goods in their retail ecosystem. However, the Trade Department said executives of PPIH have noted that 'opening a Donki store in the Philippines remains a long-term consideration.' Nevertheless, the executives of the Japanese retail house 'acknowledged that a successful sourcing partnership with the Philippine government and exporters could play a significant role in including the Philippines in future regional expansion plans.' 'As we navigate the complexities of a rapidly changing global economy, we are guided by a fundamental principle: alone we can only do so little, but together, we can achieve so much,' said Roque. 'We welcome every opportunity to introduce Filipino products to the world—especially through partners who share our commitment to innovation, inclusion, and excellence,' said the Trade chief. The DTI said PPIH identified food and wellness items, natural and sustainable home goods, and unique lifestyle products as key areas of sourcing interest. The Japanese retail house also expressed a desire to connect directly with more Philippine exporters and manufacturers, beyond current intermediaries, to gain better access to new and trending products, according to the agency. — BM, GMA Integrated News
