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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Hello and welcome to the 316th Carnival of Personal Finance- Family Edition. Big Cajun Man from THE Canadian Personal Finance Site asks What is Your Financial Plan B? Ken from Spruce Up Your Finances asks Need A Down Payment For Your House? Darwin from Darwin’s Money asks Are You Better Off Than Your Parents?

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Cool Things I Read This Week

Prairie Eco-Thrifter

RT @ wisebread Houses You Can Build Yourself | Wise Bread [link] Going to consider this if we decide to change residence. #. Reader Asks About Selling Home to Pay Off Debt – [link] I agree. Prairie Eco-Thrifter has Been Featured in the Carnival of Personal Finance # 297 [link] #. 0 saves Save.

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What Is A Personal Loan?

Savings Corner

Key takeaways A personal loan is money you can borrow to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms. You will also start to repay the money.

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

We paid off over $147,000 in debt (actually way over that amount, if you want to count a $210,000 rental property that I sold at a slight loss.) About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) Then my husband decided to pay off his car.

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Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

We spent the next couple of years building our savings back up, but I am now thinking that it needs to be increased. Three to six months living expenses used to be what the personal finance experts recommended, but in today's environment, maybe six months to a year is more prudent. How Much Do You Need in an Emergency Fund? Six months?

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Meet Carrie. She Paid Off $14,000 in Debt in 14 Months.

Family Balance Sheet

How much debt did you pay off? What kind of debt was it? After my first marriage fell apart, I ended up with over $14,000 of consumer debt, made up of a car loan and credit cards. It took just over a year (14 months to be exact) before I paid off all my debts and became debt free!

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What Is A Home Equity Loan?

Savings Corner

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. to 10 percent.

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