Savings Corner

APRIL 4, 2024

You can use your equity to renovate some rooms, pay off credit cards, cover college tuition, start your own business … or almost anything else. It represents the total debt against the home: both the original mortgage and the size of the new home equity loan or line of credit. Home equity can be a valuable resource for homeowners.

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Calculators Home Debt Fair-Trade 52

Savings Corner

APRIL 4, 2024

Key takeaways A home equity loan allows you to borrow a lump sum against your home’s equity, usually at a fixed interest rate that’s lower than other forms of consumer debt. While high compared to their average of six percent in 2022, that’s significantly lower than other forms of consumer debt. What is a home equity loan?

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Home Debt Credit Cards Credit 52

Prairie Eco-Thrifter

MAY 16, 2013

Check them out: Good Reads From The Blogosphere: When you’re aggressively trying to pay down debt, you may feel that you’ve done all you can to curb your expenses, but have you really? Don’t miss Melissa’s post at My Personal Finance Journey if you Think You’re Sacrificing to Pay Down Debt? Think Again.

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Fridays Debt Unemployment Rent 187

Family Balance Sheet

JUNE 22, 2020

It was so big that I cried for two days straight– we paid off six figures in non-mortgage debts. How we got to six figures of non-mortgage debt: In the summer of 2012, we found an opportunity to purchase an office building for our small business. After the first year, the new business debt weighed on me.

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Debt Health Insurance Insurance Budgeting 130

Savings Corner

APRIL 4, 2024

But it’s a revolving debt that offers an amount of funds (a replenishable balance, similar to a credit card limit) tied to the level of equity in your home. Many borrowers use them to pay for major home repairs or renovations, like finishing a basement , remodeling a kitchen or updating a bathroom. HELOC: What is it?

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Home Work Debt Credit 52

Prairie Eco-Thrifter

JUNE 6, 2013

My friend Jackie over at The Debt Myth has created a Pay Off Debt App which I think is very cool. She has lived the journey of being sunken in debt and then freeing herself and now she is trying to help others do the same with her new app. Saving Money on Renovations. It really makes me happy. How To Organize A Project.

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Debt Fridays Win Green And Frugal 145

Family Balance Sheet

SEPTEMBER 21, 2015

We carried no credit card debt and we contributed to our retirement. But in August 2013, our business softened, renovations to our new building were more costly than planned, and we were now the owners of two mortgages, our home and our business. We had a lot of debt, not enough cash flow, and very little set aside for emergencies.

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Finance Debt August 2013 100

Family Balance Sheet

DECEMBER 29, 2020

Special Purchases – Have some fun with this spreadsheet and use it to plan for upcoming large expenses, such as vacations, home renovations, equipment, replacement, etc. Summer Planning – Use this spreadsheet to plan for your summer fun, such as vacations, day trips, pool memberships, home/landscaping renovations, etc.

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Budgeting Budget Family Property Taxes 130

Savings Corner

APRIL 4, 2024

This can help you keep your monthly payments down and avoid unnecessary debt and interest. If you qualify for the best rates, a HELOC can be a less expensive way to consolidate debt or finance a home renovation. You can only take the deduction up to a certain threshold, however, based on your total mortgage debt.

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Credit Home Debt College Tuition 40

Prairie Eco-Thrifter

DECEMBER 19, 2013

Staring a home renovation? JP from My Family Finances shares his ideas about Why Paying Down Debt Is Better Than Investing In The Stock Market. Are you graduating this spring? If so, bookmark SFB’s post about How to Set Yourself Up To Be a Financial Success When Starting the First Job at Simple Finance Blog.

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Fridays Finance Personal Finance Renovation 167

Family Balance Sheet

JANUARY 26, 2011

I work a budget around what comes in, what we spend and what I would like to spend, hopefully leaving some leftover to devote to more debt reduction or savings. Our "Household" category could be anything from light bulbs to major home renovations. We have around 20 categories. It doesn't always work out in my favor.

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Debt Renovation Leftovers Software 147

Savings Corner

APRIL 4, 2024

Images by Getty Images; Illustration by Hunter Newton/Bankrate Although interest rates aren’t as favorable as they were in recent years, refinancing might make sense for homeowners who want to pull out cash to renovate their homes. Based on those benchmarks, here is our guide to the best mortgage refinance lenders in 2024.

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Refinancing Bank Banking Credit 40

Prairie Eco-Thrifter

FEBRUARY 4, 2011

Punch Debt in the Face tells us why no spend challenges are for wussies. Renovations can get expensive too. Renovations like these are always worth the time and effort if you ask me. Reducing Debt. Live Real, Now shares 5 strategies we can use to prevent debt burnout. You are more likely to get honest advice.

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January February Debt Personal Finance 113

Family Balance Sheet

APRIL 2, 2022

Include everything from weekend trips to longer vacations, yard/garden projects, home renovations, kids’ camps, gear and clothing, and any other summer expense you might have. They’re all designed to help you save money, pay off debt, and achieve your financial goals, so please take advantage of them. Share in the comments!

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Budgeting Budget Friends And Family Sale Home and Garden 130

Savings Corner

APRIL 4, 2024

The steps may vary depending on whether you’re looking for debt consolidation loans , home improvement loans, medical loans or wedding loans. Personal loan qualification requirements Your credit score , income and debt are usually evaluated by personal loan lenders to see if you qualify.

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Debt Credit Cards Credit Home Improvement 52

Prairie Eco-Thrifter

MAY 9, 2011

When you are working on a home renovation, buy your screws, nails, and other bits out of the bins and not those packaged in boxes. 5 Ways to Reduce Your Debt. There are simple ways to cut down on waste, from buying concentrated household products to buying in bulk. Buy in bulk or in loose. Any creative tips to share?

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Reuse Recycle Recycled Recycling 174

Saving With Shellie

JULY 22, 2011

I encouraged you to build an emergency fund or pay down debt with your savings. Deidre at Cuckoo for Coupon Deals is pledging to be Debt Free in Three Years. Ruth of Living Well, Spending Less is pledging to save $100 per week in order to renovate her backyard after the destruction of Hurricane Charlie.

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Goals Emergency Fund Financial Goals Debt 49

Family Balance Sheet

JANUARY 17, 2018

This is our very last non-mortgage loan and we send an extra payment every month as part of our Debt Freedom Plan. I’ll apply that money to the debt. Our Debt Freedom Plan (an update): In 2013, we found ourselves with a lot of debt and not enough cash flow. You can read my original post: Our Debt Freedom Plan Begins.

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Financial Goals Goals 2018 Debt 113

Savings Corner

DECEMBER 25, 2023

In other words, it’s the extent to which your home is an asset rather than a debt. Offers a generous selection of loans, including government-backed, interest-only, ITIN, jumbo, and renovation loans. More equity in your home right away. Your home equity is your home’s value minus the amount you owe on your mortgage.

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Insurance Home Refinancing Money 52

Family Balance Sheet

JUNE 8, 2018

I came up with strategies to help us pay for yearly bills, large expenses, and we were able to pay off debts. Special Purchases – Have some fun with this spreadsheet and use it to plan for upcoming large expenses, such as vacations, home renovations, equipment, replacement, etc. During that time, I started to budget for everything.

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Budgeting Budget Financial Goals Goals 133