Buy Insurance Pay Off Debt Renovation 
Savings Corner
APRIL 4, 2024
Home equity loans are best used for five-figure renovation or repair projects — which can garner you a tax deduction on their interest — or to consolidate other debts. You can deduct the interest (up to the limit) if the home equity loan is used to “buy, build or substantially improve” the property.
Family Balance Sheet
JUNE 22, 2020
After the first year, the new business debt weighed on me. Aside from the mortgage, we also added equipment and renovation loans with the purchase, and we had a student loan. By the summer of 2013, we found ourselves in a pickle–we had too much debt and not enough cash flow. What could possibly go wrong?
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