article thumbnail

The Danger In Assuming

Prairie Eco-Thrifter

Unfortunately the recession of 2008 was not an isolated incident. To buy a home under the assumption that you’ll some day make a profit from it or rely on one source of income assuming it’ll always be available to you is financially foolish. They can come in the form of a health scare a home repair or otherwise.

article thumbnail

Can You Cut Expenses by a Half Million Dollars?

Prairie Eco-Thrifter

With the advent of the Great Recession, today’s populations are re-learning frugality and expense reduction. Using only our last two houses, and calculating on cleanings weekly, we saved $200 a month for 10 years and on our larger home, $300 a month for 20 years for a total of $96,000. 40,720 Home Repair.

article thumbnail

HELOC Vs Home Equity Loan: How Do They Work?

Savings Corner

And, as with your primary mortgage, you can expect closing costs whether you choose a home equity loan or HELOC. Many borrowers use them to pay for major home repairs or renovations, like finishing a basement , remodeling a kitchen or updating a bathroom. Why are HELOCs and home equity loans popular now?

Home 52